Tag: Mini budget
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Suzuki Swift GLX now costs more than Rs4.7 million after latest hike
Pak Suzuki Motor Company has announced its third price hike in less than 30 days, resulting in an increase in the prices of some of its more affordable car models. This move follows the ongoing trend, with Pak Suzuki citing mounting inflation and local currency depreciation as the primary reasons for the price increase. With…
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National Assembly passes mini-budget to meet IMF targets
The National Assembly of Pakistan passed the Finance (Supplementary) Bill, 2023, aimed at amending certain laws relating to taxes and duties. The bill is intended to generate an additional Rs170 billion within the next four and a half months, to fulfill the last prior actions agreed upon with the International Monetary Fund (IMF). Pakistan’s reserves…
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From soap to air tickets: What’s getting costlier after mini-budget?
The Federal Board of Revenue (FBR) has issued an SRO to increase the standard 17 per cent general sales tax (GST) to 18 per cent, which will collect taxes worth Rs115 billion. The remaining Rs55 billion will be generated through other measures mentioned in the Finance (Supplementary) Bill 2023.
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Saying ‘qabool hai’ just got more expensive: Mini-budget proposes increased tax rates on weddings, related events
The Finance (Supplementary) Bill, 2023 proposes to reintroduce advance tax on functions and gatherings, requiring a tax withholding of 10 per cent for filers and 20 per cent for non-filers. The tax rate will be applied to the total amount of the bill from the individual or entity hosting the function, whether it is in…
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Govt increases petrol price by Rs22 to a historic high of Rs272 per litre
In an effort to satisfy the International Monetary Fund (IMF) and secure a crucial loan tranche, the federal government has raised the price of petrol to a historic high. This move comes mere hours after the introduction of a tax-laden “mini-budget”. Petroleum division confirmed that the price of petrol has increased by Rs22.20 to reach…
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Ishaq Dar presents mini-budget in National Assembly to meet IMF conditions
A crucial tax amendment bill to fulfil the conditions of the International Monetary Fund (IMF) to revive a stalled loan programme that the country needs to stave off default was presented in both houses of parliament on Wednesday. Finance Minister Ishaq Dar introduced the Finance (Supplementary) Bill 2023 first in the National Assembly and then…
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‘Govt will be removed in a democratic way, will take to streets on February 27’: Bilawal Bhutto
Pakistan People’s Party (PPP) chairperson Bilawal Bhutto-Zardari has said that the government forcibly passed the anti-people mini-budget in ‘the dark of night’. Talking to the media along with former Prime Minister (PM) Yusuf Raza Gilani, Bilawal Bhutto said that they protested inside and outside the Parliament against the mini-budget. They were promised that tax will…
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No PTI minister present in front row of Parliament, Opposition lashes out at non-seriousness of govt
Pakistan Muslim League-Nawaz (PML-N) leader Khawaja Asif took to Twitter to lash out at the ruling Pakistan Tehreek-e-Insaf (PTI) and said, “The ongoing session of the Assembly, which has been called to pass the catastrophic budget and the State Bank of Pakistan’s (SBP) slavery bill, is currently suspended due to lack of quorum.” “Neither the…
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Bilawal in Parliament says not expected from a player like Imran Khan to impose taxes on condoms
Pakistan People’s Party (PPP) Chairperson Bilawal Bhutto-Zardari during his speech in the National Assembly (NA) on Tuesday lamented how the ruling Pakistan Tehreek-e-Insaf (PTI) has imposed taxes on the people of Pakistan. Talking about a list of items on which the government-imposed taxes, Bilawal said that the people of Pakistan are in pain. He said,…
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Opposition confused? Bilawal plans February protest in Islamabad, Maulana in March
The season of ‘the long march’ is back on in Pakistani politics. Pakistan People’s Party (PPP) chairman Bilawal Bhutto-Zardari on Thursday announced that he will lead a “long march” against the Pakistan Tehreek-e-Insaf (PTI) government from Karachi to Islamabad on February 27. Addressing a press conference in Lahore, Bilawal said that the nation wants to…