Tag: budget 2023-24
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ECC greenlights 25% sales tax increase on domestic cars
In a significant development, the Economic Coordination Committee (ECC) of the Cabinet has given its nod to a proposal for increasing the sales tax on vehicles manufactured and assembled within the borders of Pakistan.
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ECC approves Rs7.49 billion Ramzan Relief Package
In a significant move to provide relief to the general public during the upcoming Ramazan, the Economic Coordination Committee (ECC), in its latest meeting chaired by the Federal Minister for Finance, Revenue, and Economic Affairs, Dr Shamshad Akhtar, approved the Ramzan Relief Package-2024.
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Budget, May 9 top agendas during PM-COAS meeting
Chief of Army Staff (COAS) General Asim Munir met Prime Minister Shehbaz Sharif on Monday at PM house, right after the presentation of the federal budget, DAWN has reported. The National Assembly later passed a resolution right after the meeting that demands instant prosecution of the miscreants involved in the May 9 attack on state…
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Budget 2023-24 prioritises promoting economic growth, says Ishaq Dar
Federal Minister for Finance and Revenue, Ishaq Dar, delivered a comprehensive assessment of the FY2023-24 budget during a post-budget press conference in Islamabad. He highlighted the distinctive nature of this budget compared to previous traditional budgets, emphasising its focus on fostering economic growth.
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Govt allocates only Rs97 billion for education affairs and services in budget 2023-24
The federal government has designated a budget of only Rs97.098 billion for education affairs and services in the fiscal year 2023-24. This allocation reflects a 5.5 per cent increase compared to the revised allocation of Rs91.777 billion for the current fiscal year.
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Budget 2023-24: Finance Minister announces tax relief measures for IT sector and freelancers
In a recent announcement, the federal government has unveiled a series of measures aimed at fostering growth and investment in the freelancing and information technology (IT) sectors. The government has decided to implement a reduction in tax rates for investments in the IT sector, provide tax breaks to freelancers, and establish a favorable environment for…
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Govt expected to reduce petrol price by Rs10 per litre in a pre-budget relief move
Ahead of the much-anticipated federal budget for 2023-24, set to be announced on June 9, the government is planning to alleviate the burden of inflation by reducing the prices of petroleum products, according to industry officials.
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Govt to maintain 18% GST rate in upcoming budget 2023-24
In the forthcoming budget for 2023-24, it is anticipated that the government will maintain the current standard rate of General Sales Tax (GST) at 18 per cent. Additionally, efforts are being made by the government to increase the rates of withholding taxes, where applicable, with the aim of augmenting tax revenues.
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Pakistan’s IMF bailout programme revival delayed: blame game between Pakistani authorities and IMF
Pakistani authorities and the International Monetary Fund (IMF) are blaming each other for the delay in reviving the IMF bailout programme. The IMF approved a $6.5 billion bailout package for Pakistan in 2019, of which $1.1 billion is still outstanding. However, issues related to fiscal policy adjustments have delayed the release of the funds since…