Imran Ali Kundi

  • TISLAMABAD - The government’s drive of broadening tax base of the country has slowed down as the Federal Board of Revenue (FBR) issued notices to 3500 non-taxpayers so far. The PTI led government had announced to broaden the tax base of the country by bringing non-taxpayers into tax net. ...

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  • TISLAMABAD   -   Pakistan on Friday has received the second tranche of one billion dollar from Saudi Arabia while the first tranche had already been utilised in less than one month period due to external debt servicing and other official payments. “The State Bank of ...

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  • TISLAMABAD - State Bank of Pakistan (SBP) Governor Tariq Bajwa on Thursday said that the central bank was compelled to depreciate the local currency as foreign exchange reserves were depleting due to widening current account deficit and non-inflow of foreign investment in the country. He warned ...

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  • TISLAMABAD - The Pakistani government and the Asian Development Bank (ADB) on Thursday signed loan and grant agreements worth $284 million to improve Pakistan’s power transmission network. The agreement was signed by ADB Country Director for Pakistan Ms Xiaohong Yang and Secretary of the ...

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  • TISLAMABAD   -  The Economic Coordination Committee (ECC) of the Cabinet on Wednesday has approved the budget estimates of the National Telecommunication Corporation (NTC). The ECC, which was chaired by Finance Minister Asad Umar, has cleared proposal of Ministry of Information ...

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  • TISLAMABAD  -   Pakistan has followed the Turkish model for the new mobile tax policy for foreign visitors by allowing only one duty-free mobile phone set in a bid to stop the import of illegal phones in the market. The PTI led government had implemented the new mobile tax policy, ...

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  • TISLAMABAD - Pakistan’s trade deficit had shrunk to $14.5 billion in first five months (July to November) of the current fiscal year on the back of minor decline in imports while the pace of increase in exports remained modest. The trade deficit had recorded at $14.5 billion during July to ...

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  • TISLAMABAD - The ministry of finance is likely to move a summary to Prime Minister Imran Khan next week for the appointment of chairman of the Securities and Exchange Commission of Pakistan (SECP). The chairman post was vacated in October this year when Shaukat Hussain had resigned. “A ...

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  • TISLAMABAD   -  The Monetary and Fiscal Policies Coordination Board Friday anticipated that the short-term conditions on the exchange rate front are likely to normalise due to availability of deferred oil facilities and the recent decline in the international oil prices The board has ...

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  • TISLAMABAD  -   The Federal Board of Revenue (FBR) will have to collect mammoth Rs586 billion in current month (December) to meet the tax collection target of Rs1.96 trillion set for the first half (July to December) of ongoing fiscal year (FY2019). The FBR had collected Rs1.38 ...

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  • TISLAMABAD - The World Bank has noted in its report that trade between Pakistan and India could increase to $37 billion from existing only 2 billion dollars if the two South Asian countries ready to reap the benefits of shared land borders. South Asian countries are yet to reap the benefits of ...

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  • TISLAMABAD - Inflation rate was higher at 6.5 percent during November mainly due to the economic policies of enhance power and gas tariffs, depreciating currency and impact of the mini budget. Inflation measured by Consumer Price Index (CPI) was only 4 percent in the same month of previous year, ...

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  • TISLAMABAD - The PTI-led government has introduced austerity plan for the current fiscal year including imposing ban on creation of new jobs and purchase of vehicles to control the rising expenditures of the country. The Ministry of Finance, through a notification, has directed all ministries and ...

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  • TISLAMABAD - Following massive currency depreciation and failure in talks with International Monetary Fund, Finance Minister Asad Umar is under increasing pressure as questions about his competence and handling of the country’s economic matters have been raised by both the ruling and ...

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  • TISLAMABAD - Although Ministry of Finance denies its role in fixing the exchange rate independent economists believe that State Bank of Pakistan allows the currency devaluation after getting green signal from top officials of the government. Background discussions with officials of the ministry and ...

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  • TISLAMABAD   -  Following sharp depreciation in local currency, the country’s interest payment on foreign loans would massively increase in the ongoing fiscal year that would widen the budget deficit. A dollar has traded on Rs139 in interbank on Friday that was around Rs115 in ...

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  • TISLAMABAD - The US dollar hit an all-time high of Rs144 in interbank market on Friday, suggesting the government has accepted IMF demand of devaluing rupee to Rs145 against dollar. But Finance Minister Asad Umar rejected this impression saying the “issue of dollar is associated with supply ...

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  • TISLAMABAD - The federal government on Friday reduced the prices of petroleum products by up to Rs5 per litre after rejecting the summary of Oil and Gas Regulatory Authority (Ogra) that recommended increasing the prices. Finance Minister Asad Umar announced the government has decided to reduce the ...

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  • TISLAMABAD   -   The Economic Coordination Committee (ECC) of the Cabinet on Friday approved to provide 40,000 metric tonnes of wheat to Afghanistan as a gift. The ECC, which was chaired by Finance Minister Asad Umar, has considered the proposal of Ministry of National Food ...

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  • TISLAMABAD - Pakistan’s foreign exchange reserves had tumbled by around $230 million in last week despite it received one billion dollar from Saudi Arabia recently.  Pakistan had received one billion dollar from Saudi Arabia last week, which took the State Bank of Pakistan (SBP)’s ...

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  • TISLAMABAD  -   The Federal Board of Revenue (FBR) on Wednesday said that government has closed the audits and waived the penalties imposed on the salaried individuals in order to facilitate them. The FBR has waived the penalties imposed on around 350,000 taxpayers of the salaried ...

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  • TISLAMABAD - The Economic Coordination Committee of the Cabinet has decided that there would be no gas loadshedding in the current winter season as the government would import the regasified liquefied natural gas to overcome the gas shortage. The ECC, which met in the chair of Finance Minister Asad ...

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  • TISLAMABAD - State Minister for Revenue Hammad Azhar Tuesday said the government was focused on improving and simplifying taxation system by introducing new technology to facilitate the taxpayers. He was addressing the business community at Islamabad Chamber of Commerce & Industry (ICCI). He ...

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  • TISLAMABAD - The government has called a meeting of the Economic Coordination Committee (ECC) of the cabinet today (Tuesday) to take up gas load management plan for the winter and progress on acquiring Islamic Financing Facility to reduce the circular debt. The ECC, which would be chaired by Finance ...

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  • TISLAMABAD   -  The federal government has transferred Rs663 billion to the four provinces under National Finance Commission (NFC) Award that enabled the provinces to give surplus budget during first quarter (July to September) of the current fiscal year. The federal government is ...

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  • TISLAMABAD - Pakistan has recorded a budget deficit of Rs541.7 billion during the first quarter (July to September) of the ongoing fiscal (FY2019) year despite provincial government generated massive surplus and cut in development budget. The country’s expenditures have stood at Rs1.64 ...

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  • TISLAMABAD - The growth of large-scale manufacturing (LSM) has shrunk by 1.71 percent during first quarter (July to September) of the current fiscal year (FY2019) indicating that economic activities have slowed down in the country. The LSM growth has declined by 1.71 percent during July to ...

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  • TISLAMABAD - The federal cabinet will appoint the president of National Bank of Pakistan (NBP) today as the post was lying vacated after the government had suspended former president Saeed Ahmad on the National Accountability Bureau’s request. Federal cabinet under the chair of Prime Minister ...

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  • TISLAMABAD - The Economic Coordination Committee (ECC) of the Cabinet on Thursday allowed import of cotton from Afghanistan/Central Asian states via the land route through the Torkham Border. The ECC, which met under the chair of Finance Minister Asad Umar, also accorded approval for sale of 200,000 ...

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  • TISLAMABAD - The Economic Coordination Committee (ECC) of the cabinet on Tuesday approved to export 0.5 million tonnes of wheat at subsidized rate. The ECC, which was chaired by Finance Minister Asad Umar, discussed the proposal submitted by the Ministry of National Food Security and Research ...

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