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ISLAMABAD: The federal government is bracing for a tax revenue shortfall of Rs80-90 billion in December 2024, despite recent measures to enhance revenue. A presidential ordinance has imposed a 44% tax on banking sector profits. The Federal Board of Revenue (FBR) expects to collect Rs70 billion from the banking sector by December 31, 2024. This …
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The federal government is expected to announce new petroleum prices on December 31. Diesel and kerosene oil prices may see an increase, while petrol prices are likely to remain unchanged. Sources from the Petroleum Division suggest a potential increase of more than Rs4 per litre in diesel prices. Diesel is widely used in transportation and …
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The unfair tax on the cigarette industry by the federal government will incline users towards illegal cigarettes. The recent increase in federal excise duty on cigarettes in the federal budget and the proliferation of illegal cigarettes in the country have raised new questions. The federal government is relying heavily on cigarettes to generate 170 billion …
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ISLAMABAD: Interior Minister Sheikh Rasheed has said that the federal government has agreed to suspend the Tehreek-e-Labbaik Pakistan (TLP) under the anti-terrorism law. The federal minister said that the decision was made at the behest of the Punjab government. “We are forwarding a summary to the federal cabinet in order to place a ban on …
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