5 Posts

budget

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Govt to present budget 2024-25 on June 10: sources

  • 2 min
The Pakistan government will present the budget for the financial year 2024/25 on June 10, delayed from the original date of June 7 due to Prime Minister Shehbaz Sharif's visit to Beijing from June 4 to June 8. Inflation may increase as the IMF has requested Pakistan to reduce sales tax exemptions.
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Budget 2025: More tax ‘proposed’ on cigarettes

  • 2 min
The Pakistan government is considering raising cigarette prices in Budget 2025, with potential recommendations for a 15-19% increase in federal excise duty. This move aims to reduce tobacco consumption, which has had significant public health and economic ramifications, with widespread usage and smoking-related illnesses impacting a large portion of the population.
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PPP delegation meets PM Shehbaz, discuss federal budget

  • 2 min
A delegation from the PPP met with PM Shehbaz Sharif to discuss the upcoming federal budget. The PPP presented recommendations and demanded increased funding and development projects for Sindh, especially for flood-affected individuals. Prime Minister assured consultation on their demands, with senior government officials also present at the meeting.
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Budget 2024: Power tariff likely to reduce for industrial sector

  • 2 min
The 2024 budget may see a reduction in power tariffs for the industrial sector, providing relief to industries amid considerations for tariff rationalization and proposals to reduce costs for export-oriented industries. This move is expected to amount to around Rs 100 billion in benefits for the export sector. The budget is expected to be presented on June 7, with an estimated total expenditure of Rs 16,700 billion.
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Govt to ‘increase’ tax on cash withdrawal in upcoming budget

  • 3 min
The federal government plans to increase the advance tax on cash withdrawals for non-filers from 0.6% to 0.9% in the upcoming budget. This move could generate over Rs. 15 billion in annual revenue. Additionally, the government may raise the withholding tax on vehicles over 850cc and launch a crackdown on individuals not registered under the Tajir Dost Scheme. IMF has also requested electricity price hikes to tackle the power sector's circular debt.