No Result
View All Result
Monday, July 28, 2025
MM News
اردو
  • Home
  • Latest News
  • National
  • Dramas
  • Showbiz
    Netflix August 2025

    Here’s what’s coming to Netflix in August

    Honey Singh

    After their last hit, Honey Singh and Shehnaaz Gill to share screen again

    Dr. Salunkhe

    CID Season 2, Episode 63 marks Dr. Salunkhe’s comeback

    Saiyaara

    Will Son of Sardaar 2 and Dhadak 2 stop Saiyaara’s box office run?

    File Photo

    Alizeh Shah claims she is receiving death threats from fellow actress

    (Image: cinebuster.in)

    Who is Ruchi Gujjar and what did she do?

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
MM News
  • Home
  • Latest News
  • National
  • Dramas
  • Showbiz
    Netflix August 2025

    Here’s what’s coming to Netflix in August

    Honey Singh

    After their last hit, Honey Singh and Shehnaaz Gill to share screen again

    Dr. Salunkhe

    CID Season 2, Episode 63 marks Dr. Salunkhe’s comeback

    Saiyaara

    Will Son of Sardaar 2 and Dhadak 2 stop Saiyaara’s box office run?

    File Photo

    Alizeh Shah claims she is receiving death threats from fellow actress

    (Image: cinebuster.in)

    Who is Ruchi Gujjar and what did she do?

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
No Result
View All Result
No Result
View All Result
MM News
اردو
  • Latest
  • Showbiz
  • Thought Box
  • Business & Stock
  • Opinions
  • Technology
  • The Other Side-Pakistan
Home Business & Stock

Record hike in petroleum levy may help in reducing revenue shortfall

MM News Staff by MM News Staff
March 6, 2020
KARACHI: Former Provincial Minister Mian Zahid Hussain has said that the record hike in petroleum levy would help the government reduce revenue shortfall.
A meeting was held today between Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), and  Senior Vice Chairman of the Businessmen Panel of FPCCI.
The government has not reduced petroleum prices as per the expectations which will help it raise few hundred billion rupees, Mian Zahid Hussain
Hussain further said that the petroleum levy will not be enough to cover the entire shortfall therefore sales tax could be increased by one percent on various items.
Talking to the business community, the veteran business leader said that Russia, Saudi Arabia, and other countries are trying to arrest the fall in oil prices.
If it rebounds, the government will have to hike sales tax by two to three percent while a steep fall in oil prices will provide relief, he added.
The Former Minister noted that Prime Minister Imran Khan has refused the IMF’s desire to introduce a mini-budget, revise energy prices and increase taxes but the revenue agreed with the lender target must be achieved.
A revenue target of Rs5550 billion was agreed with the IMF which was revised to Rs5238 billion which if scaled down again will do away with the need to increase the sales tax.
He said that it is very difficult for the FBR to collect more than Rs4461 billion which will be short of Rs777 billion which was talked by imposing the highest every petroleum levy in the history of the country.
He noted that enhancing sales tax will politically difficult, it will trigger inflation, hit businesses and agitate masses.
Last year the private sector took Rs587 billion as loans which have been reduced to Rs179 billion which indicates economic contraction.
He said that social safety programs for the poor are good but the masses will only get desired relief when the growth rate is triggered, exports are promoted and import curbs are softened, he said.
ShareTweetSendShare
Previous Post

COAS witnesses PATS Competition in Kharian

Next Post

Senate passes Zainab Alert Bill 2020 by majority vote

Related Stories

file photo
Business & Stock

UAE Dirham to PKR rates today- July 28, 2025

July 28, 2025
representative image
Business & Stock

Saudi Riyal to PKR rates today- 28 July 2025

July 28, 2025
representative image
Business & Stock

Gold prices significantly dips in global market

July 28, 2025
Representative image
Business & Stock

Forex rates in Pakistan today- Monday 28 July 2025

July 28, 2025
Image: APP
Business & Stock

PSX continues bullish trend, gains 870 points in early trading

July 28, 2025
representative image
Business & Stock

Gold prices in Pakistan today- Monday 28 July 2025

July 28, 2025
representative image
Business & Stock

Saudi Riyal to PKR rates today- 27 July 2025

July 27, 2025
file photo
Business & Stock

UAE Dirham to PKR rates today- July 27, 2025

July 27, 2025
file photo
Business & Stock

What is the new rate of profit on national savings schemes? Details released

July 27, 2025
Representative image
Business & Stock

Forex rates in Pakistan today- 27 July 2025

July 27, 2025
Next Post

Senate passes Zainab Alert Bill 2020 by majority vote

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trending Stories

Netflix August 2025
Netflix

Here’s what’s coming to Netflix in August

by MM News Staff
July 28, 2025
Image: Social media
National

Zahra Khan of Karachi’s famous ‘No Nonsense Cheesecake’ passes away after battle with cancer

by MM News Staff
July 28, 2025
Honey Singh
Fashion & Music

After their last hit, Honey Singh and Shehnaaz Gill to share screen again

by MM News Staff
July 28, 2025
Firing
Crime

Returned from Kuwait, son guns down parents and wife

by MM News Staff
July 28, 2025
file photo
Top News

NDMA issues alert for heavy rains, urban flooding in northern areas

by APP
July 28, 2025

Opinion

nadeem moulvi
From Sects to Sunnah
July 15, 2025
- Nadeem Moulvi
Munir-Ahmed
Portugal and Pakistan: Building a Bilateral Bridge in a Fractured World
June 29, 2025
- Munir Ahmed
munir ahmed oped
A Peace Prize for Betrayals: Rethinking Pakistan’s Strategic Alliances
June 28, 2025
- Munir Ahmed
No posts found
See all

Weather Updates

file photo
Top News

NDMA issues alert for heavy rains, urban flooding in northern areas

by APP
July 28, 2025

A fresh spell of intense monsoon rains is forecast to hit northern Pakistan from...

Rescue personnel evacuate villagers by boat from a flooded village following heavy rains in the Taunsa district of Punjab on July 16, 2025. — AFP

Thousands displaced, crops destroyed as floods wreak havoc in Punjab

July 27, 2025
File photo

KP issues travel advisory amid monsoon showers

July 26, 2025
Image: file photo

Weather updates for Islamabad, other parts of country

July 26, 2025
See all

Prices

representative image
Business & Stock

Gold prices in Pakistan today- Monday 28 July 2025

by MM News Staff
July 28, 2025

The following are the latest gold prices in Pakistan on Monday, 28 July 2025....

Karachi residents pay the highest price for flour in Pakistan

July 27, 2025
representative image

Gold prices in Pakistan today- Sunday 27 July 2025

July 28, 2025
representative image

Gold prices in Pakistan today- Saturday 26 July 2026

July 26, 2025
See all

Transport News

Chakwal
Crime

Tragic bus crash in Chakwal: 6 dead, 24 injured near Dhok Sial

by MM News Staff
July 27, 2025

A bus fell into a ravine near Dhok Sial on the motorway in Chakwal,...

Charged Parking

Has the Sindh government put an end to parking fee extortion?

July 25, 2025

E-Taxi scheme launch date unveiled in Punjab

July 24, 2025
(File Photo)

Air Arabia Abu Dhabi expands operations in Pakistan with new Faisalabad, Multan flights

July 24, 2025
See all

MM Digital (Pvt.) Ltd.

MM News is a subsidiary of the MM Group of Companies. It was established in 2019 with the aim of providing people of Pakistan access to unbiased information. Contact Details: 03200201537

Quick Links

  • Home
  • Advertise
  • MM News Urdu
  • The Other Side-Pakistan
  • Contact Us
  • Privacy Policy

Top Pages

  • Latest News
  • Showbiz
  • OP-ED
  • Technology
No Result
View All Result
  • Latest News
  • Showbiz
  • Thought Box
  • Business
  • Opinions
  • Technology

© Copyright 2024 MMNews - All Rights Reserved.