FBR seeks budget proposals for next fiscal year

ISLAMABAD: The Federal Board of Revenue (FBR) has invited proposals from various stakeholders on Income Tax and Customs for consideration in the upcoming budget for the fiscal year 2021-22. “The Federal Board of Revenue is currently engaged in formulation of

NA approves federal budget, passes Finance Bill 2020

ISLAMABAD: The National Assembly on Monday passed the Finance Bill 2020 to approve the budgetary proposals for the next fiscal year. Minister for Industries and Production Hammad Azhar had presented the Rs7.14 trillion budget for fiscal 2020-21 on June 12.

A disappointing budget

The nation had huge expectations from the federal budget 2020-21 particularly the business community that was hoping that the government will provide significant financial relief but were disappointed after the budget was presented. The textile, leather, agriculture and construction sector

KP Assembly presents Rs923 billion budget for FY 2020-21

PESHAWAR: Khyber Pakhtunkhwa Assembly on Friday announced the tax-free budget with a total outlay of Rs923 billion for Fiscal Year 2020-21. Presenting the budget in the Khyber Pakhtunkhwa Assembly, Finance Minister Taimur Saleem Khan Jhagra said the province will receive

Textile industry rejects ‘one-sided, unrealistic’ budget

FAISALABAD: The textile industry has expressed disappointment over the lack of relief provided in the budget as the situation could worsen amid a severe liquidity crunch and shrinking business. In a post-budget statement, Pakistan Hosiery Manufacturers & Exporters Association (PHMA)

Manipulating budget statistics

The PTI government has presented its second budget for the fiscal year 2020-21. Federal Minister Hamad Azhar’s speech was balanced but the truth will come out only after the budget figures are unveiled. A budget is a document prepared by

Provincial budgets

The federal government has passed the annual budget for the fiscal year 2020-21 and now the attention has shifted to the provincial budgets. The parliament will continue debating and politicians will keep criticising the budget that was passed under stressful

Corona budget

All eyes were on the government as it passed the federal budget 2020-21 amid the coronavirus pandemic. The outbreak has impacted the entire world. Even the most developed countries, and Pakistan could certainly not, escape the economic consequences. The budget

PM chairs cabinet session to approve budgetary proposals

ISLAMABAD: Prime Minister Imran Khan on Friday chaired a special session of the federal cabinet on  to discuss the fiscal year 2019-20 budget During the meeting, the federal cabinet has approved the budgetary proposals for the next fiscal year. Finance

Auto industry shows sluggish performance in current year

ISLAMABAD: The auto industry displayed sluggish performance during the current financial year, except buses where it witnessed a growth of 17 percent during July-March 2019-20. According to the Economic Survey 2019-20 released on Thursday, during the period from July-March 2019-20,

Agriculture sector grew by 2.67% in 2019-20: Economic Survey

ISLAMABAD: The coronavirus outbreak has adversely impacted the national economy and the performance of all major sectors remained dismal during the outgoing fiscal year 2019-20. During the period under review, the agriculture sector recorded a growth of 2.67 percent considerably

Govt to present around Rs7.5 trillion national budget today

ISLAMABAD: The government will on Friday (today) present its second budget for the fiscal year 2020-21 with an estimated outlay of around Rs7.5 trillion. The National Assembly is already in session where the budget for the fiscal year 2020-21 would

Tax-free budget

Finance Adviser Abdul Hafeez said that Pakistan suffered a loss of Rs3 trillion in national income due to the coronavirus outbreak. While presenting the economic survey ahead of the annual budget, the adviser said they inherited a troubled economy on

Past and Present budget – Performance and Expectation

The Pakistan Tehreek-e-Insaf (PTI) government came to power after the 2018 general elections with Prime Minister Imran Khan at the helm of political affairs. The government presented its first budget for the FY2019-20 on 11th June, 2019 amid a much-anticipated

Budget relief

The government is set to pass the federal budget for fiscal year 2020-21. It has already hinted at providing stimulus packages and allocating funds to various sectors in the upcoming budget. The pharmaceutical sector is expected to receive a massive

Budget 2020-21 will be different from past: Adviser

ISLAMABAD: Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood has said the upcoming budget 2020-21 would be different from the past due to the coronavirus pandemic. Talking to a private TV channel, the adviser said the

Pakistan to target 2.3% growth in upcoming budget

ISLAMABAD: The government will target growth of 2.3% in fiscal year 2020-21 as it presents the budget for the upcoming fiscal year on Friday. The budget is being passed amid a changing economic landscape that would depend mainly on the

Budget amid pandemic

The government will present the federal budget for the fiscal year 2020-21 in parliament on June 12. This budget will be different this year as it is being prepared under the shadow of a global pandemic that has wrecked the

Parliamentary Budget Office

Whenever a government in Pakistan presents a budget, there is scepticism as usual about the integrity of both the budget and macroeconomic figures presented by the government. It is not a secret that past governments at all levels have “fudged”

Bilawal criticizes PTI govt over cuts in higher education budget

KARACHI: On Sunday, Chairman of the Pakistan Peoples Party (PPP), Bilawal Bhutto Zardari, criticized the PTI government’s significant cuts in the higher education budget forcing public-sector universities to take private-sector loans to manage their operations. Bilawal Bhutto figured out that

India’s rising military budget

India has increased its defence budget by six percent with the aim to implement an offensive against Pakistan. It has now become the fifth largest country in terms of defence spending.  Currently, India’s defence budget has been upped to $45.45

Govt releases Rs297.64 bn for development projects

ISLAMABAD: The federal government has released Rs297.643 billion for various ongoing and new social sector uplift projects under its Public Sector Development Programme (PSDP) 2019-20 from the total allocated budget of Rs701 billion. Under its development programme, the government has

US budget deficit soars to almost $1 tn, highest since 2012

WASHINGTON: America’s budget deficit soared to nearly $1 trillion in the 2019 fiscal year as government borrowing swelled, the US Treasury announced Friday. The fourth straight year of broadening budget gaps underscored a new tolerance for yawning fiscal imbalances in