Imran Ali Kundi

  • TISLAMABAD  - The World Bank has said that Pakistan urgently needs to invest more in its people if they are to be richer, better educated and healthier when the country turns 100 in 2047. In its report titled ‘Pakistan@100: Shaping the Future’ launched at the Human Capital Summit ...

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  • TISLAMABAD  -   Pakistan’s textile exports had not increased despite the fact that the government had depreciated the currency and reduced the prices of electricity and gas. The country’s textile exports had marginally enhanced by over one percent to $8.9 billion in eight ...

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  • TISLAMABAD - The government would have to pay additional Rs400 billion on interest payment on foreign loans during ongoing fiscal year mainly due to the sharp depreciation in local currency and increase in interest rate. A top official of the ministry of finance said that interest payment on foreign ...

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  • TISLAMABAD - The government on Friday gave another opportunity to the non-tax filers to file their income tax returns by the end of ongoing month (March). “In exercise of the powers conferred under section 214A of Income Tax Ordinance, the Federal Board of Revenue is pleased to extend date of ...

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  • TISLAMABAD - Pakistan’s exports had increased at very low pace as against the regional competitors due to higher cost of doing business, energy costs, low productivity and higher imports tariffs on inputs. The officials of Commerce Division on Thursday informed a parliamentary committee that ...

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  • TISLAMABAD - The large-scale manufacturing (LSM) index witnessed negative growth of 2.3 percent during seven months of current fiscal year indicating that economic activities have decelerated in the country. The LSM growth had declined by 2.3 percent in July-January period of the fiscal year 2018-19 ...

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  • TISLAMABAD - The Federal Board of Revenue (FBR) on Wednesday said that Benami Transactions Prohibition Act 2017 would be applicable from February 2017 when the government had passed it. The federal government on Monday notified the Benami Transactions Prohibition Rules that would empower the FBR to ...

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  • TISLAMABAD - The Board of Directors of Sarmaya-e-Pakistan Limited (SPL) on Wednesday unanimously elected Ehsan Malik as its chairman. The Board constituted statutory committees as per requirement of Corporate Governance Rules, 2013. The Board considered the prime objective of SPL, initiation of a ...

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  • TISLAMABAD  -   Finance Minister Asad Umar said yesterday that Pakistan will have to do a lot in next three months to remove its name from Financial Action Task Force (FATF)’s grey list. He informed the National Assembly Standing Committee on Finance and Revenue that government ...

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  • TISLAMABAD - The Economic Coordination Committee (ECC) of the cabinet has approved Ramazan package worth Rs2 billion to provide basic commodities at subsidised rates to the masses at Utility Stores Corporation (USC)’s outlets during the holy month. The ECC meeting, which was chaired by Finance ...

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  • TISLAMABAD - Pakistan on Tuesday received one billion dollars from United Arab Emirates (UAE) that would increase the country’s reserves held by the central bank to above $9 billion. Spokesperson to ministry of finance Dr Khaqan Hassan Najeeb has said that government of Pakistan’s ...

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  • TISLAMABAD - Pakistan’s trade deficit narrowed by over 11 percent in first eight months of the current fiscal year, reducing pressure on the country’s foreign exchange reserves. The country’s trade deficit was recorded at $21.52 billion during July to February period of the 2018-19 ...

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  • TISLAMABAD - Finance Minister Asad Umar on Monday expressed hope that Financial Action Task Force would clear Pakistan by September as Islamabad has fulfilled the FATF’s major concern of declaring banned outfits as high risk last week. He said that FATF had expressed satisfaction with the ...

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  • TISLAMABAD  -   The Federal Board of Revenue (FBR) yesterday notified rules of Benami Transaction (Prohibition) Act 2017 that will enable the government to confiscate all assets and bank accounts kept in name of others in a bid to evade taxes. The last PML-N government had approved ...

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  • TISLAMABAD - Pakistan has asked Financial Action Task Force to appoint any other member of FATF as co-chair of the Asia-Pacific Group (APG) in place of India for a fair, unbiased and objective review process of Islamabad’s anti-money laundering efforts. In a letter addressed to FATF President ...

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  • TISLAMABAD  -  Owing to the tight fiscal space, the government has slashed the Public Sector Development Programme (PSDP) by Rs100 billion for the ongoing fiscal year. The government has planned to further cut the Public Sector Development Programme (PSDP) by Rs100 billion during the ...

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  • TISLAMABAD - Pakistan is all set to receive $2 billion from United Arab Emirates (UAE) in next few days that would help in building the country’s foreign exchange reserves. The agreement for placement of the second tranche of US$ 2.0 billion by Abu Dhabi Fund for Development (ADFD) with the ...

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  • TISLAMABAD - The Federal Board of Revenue (FBR) has decided to expedite the process of bringing non-taxpayers into tax base, as it would start issuing notices to already identified 20,000 wealthy people who do not pay their taxes. In the first phase, the FBR had issued notices to around 6500 ...

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  • TISLAMABAD - The government would not take any measure to generate additional revenues during ongoing fiscal year to bridge massive revenue shortfall of Rs230 billion, as it is relying on Supreme Court for reviving taxes on mobile phone cards. “The government so far has no plan to take any ...

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  • TISLAMABAD - The federal government has borrowed Rs2.9 trillion in just seven months to finance the soaring budget deficit of the country.  The federal government’s debt has grown by 11.8 percent or Rs2.86 trillion in first seven months (July to January) of the ongoing fiscal year. ...

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  • TISLAMABAD - The PTI led government has planned to privatise 48 public sector entities (PSEs) including loss-making Pakistan International Airlines (PIA) and Pakistan Steel Mills (PSM) during its five years constitutional tenure. Senior officials of the Privatization Commission have informed the ...

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  • TISLAMABAD  -   Amid the opposition uproar, the National Assembly finally passed the mini-budget with a majority vote on Wednesday, more than a month after the PTI-led coalition government presented it in the house. The government had also made some amendments in the mini budget ...

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  • TISLAMABAD   -     Prime Minister Imran Khan on Wednesday approved, in principle, the first-ever ‘National Tariff Policy’ of the country that aims at ensuring transparency, predictability and institutionalizing the entire structure of tariff regime of the ...

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  • TISLAMABAD - The Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved technical supplementary grant of Rs180 million for engaging services of a consortium of banks for Pakistan Banao certificates (PBCs). The ECC meeting, which was chaired by Finance Minister Asad Umar, discussed ...

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  • TISLAMABAD - Finance Minister Asad Umar on Tuesday said that government is fully committed to improve the livelihoods of Pakistanis through job creation, promoting entrepreneurship and enhancing access to formal financial services in an efficient and affordable manner. Chairing the 6th meeting of ...

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  • TISLAMABAD - The economic managers of the country might struggle to control the soaring budget deficit due to the massive shortfall in tax collection during eight months of the current fiscal year. The Federal Board of Revenue (FBR) has faced massive shortfall of Rs230 billion in tax collection ...

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  • TISLAMABAD - Pakistan’s annual inflation rate jumped to 8.21 percent in February due to the impact of the rupee depreciation, increasing gas and electricity prices and government’s borrowing from the central bank. Inflation measured by Consumer Price Index (CPI) was only 3.8 percent in ...

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  • TIMRAN ALI KUNDI ISLAMABAD The National Assembly Standing committee on Finance and Revenue on Thursday has shown concerns over slow progress on establishment of custom offices at Torkhan and Chaman Border that is important for integrated transit Trade management system (ITTMS).  The meeting of ...

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  • TISLAMABAD  -  Pakistan borrowed $2.7 billion loan from multilateral and bilateral sources in seven months of the ongoing fiscal year, which were lesser than the need of the government. Multilateral and bilateral sources are not releasing sufficient borrowing to Pakistan in the absence of ...

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  • TISLAMABAD  -   The Federal Board of Revenue (FBR), which as its chairman admitted lacks transparency, deputed its teams at mega chain stores in three major cities of the country in order to detect multi-billion tax evasions. FBR Chairman Muhammed Jehanzeb Khan informed the National ...

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