Defence Savings Certificates – Qaumi Bachat Bank new profit rates after budget
- 03-Aug-2024
KARACHI: In a move to provide maximum benefit to the long term investors, the Government of Pakistan launched the Defence Savings Certificates (DSCs) decades ago. However, recently, the National Savings or Qaumi Bachat Bank announced updated profit rate of various investment certificates, incuding DSCs, after the budget 2024-25 in May. The profit rate on Defence […]
Govt imposes 2pc ACD on import of over 200 items
- 02-Jul-2024
ISLAMABAD: The federal government has imposed regulatory duty on import of 657 luxury items and notified additional duty customs on import of 2,200 items with immediate effect, ARY News reported. According to the notification, the Federal Board of Revenue slapped 2% ADC on items subject to 0% duty. The ACD would be applicable at the […]
Budget 2024-25: New tax rates on vehicles in Pakistan
- 01-Jul-2024
New tax rate introduced in the budget 2024-25 on locally manufactured vehicles among many others, comes into effect today (July 1). This change marks a shift from a fixed tax rate to a value-based tax system, as outlined in the Finance Bill 2024-25. Read more: IMF says budget 2024 approval ‘not enough’, demands Pakistan to ‘Do […]
Budget 2024-25: President Zardari signs Finance Bill
- 30-Jun-2024
President Asif Ali Zardari on Sunday signed the Finance Bill 2024 approving the federal budget 2024-25, ARY News reported. A signed copy of the Finance Bill will also be sent to Parliament. The new federal budget will come into effect from July 1 On June 28, the National Assembly passed the federal budget amid opposition protests. The […]
Budget 2024-25: Packaged milk becomes costlier as GST imposed
- 28-Jun-2024
ISLAMABAD: The prices of packaged milk in Pakistan will surge as the government imposed an 18 per cent general sales (GST) in the Budget 2024-25, which will take effect from July 1, ARY News reported on Friday. Following the passage of Budget 2024-25 by National Assembly (NA) today, an 18pc GST has been imposed on […]
Elite class to be brought to tax net, vows PM after Budget 2024-25 approval
- 28-Jun-2024
ISLAMABAD: Prime Minister (PM) Shehbaz Sharif on Friday hailed the approval of the budget 2024-25 in the National Assembly (NA), vowing to bring elite class and tax defaulters to tax net, ARY News reported. The remarks came during the prime minister’s meeting with Finance Minister Muhammad Aurangzeb as he lauded the latter and his team […]
NA approves Federal Budget 2024-25
- 28-Jun-2024
ISLAMABAD: The National Assembly (NA) has approved the Federal Budget for the fiscal year 2024-25 with a total outlay of Rs18,870 billion, ARY News reported on Friday. Minister for Finance and Revenue Muhammad Aurangzeb moved the motion for consideration of the Finance Bill, 2024 to give effect to the financial proposals of the federal government […]
Budget 2024-25: Govt proposes 10pc GST on stationery items
- 28-Jun-2024
ISLAMABAD: The federal government has proposed 10pc General Sales Tax (GST) on all stationery items in the amended Finance Bill of Budget 2024-25. According to the Finance Bill, the government has proposed to end tax exemption on stationery items and has imposition of 10pc GST on all items. 10pc sales taxes is proposed on pencils […]
PPP to vote for budget 2024-25
- 28-Jun-2024
ISLAMABAD: Pakistan People’s Party (PPP) has decided to vote for the Federal Budget 2024-25 in the National Assembly, it emerged Friday. Sources said that PPP chairman Bilawal Bhutto and Asefa Bhutto Zardari will attend today’s NA session and will vote in favour of the FY 2024-25 budget. PPP has advised its party MNAs to remain […]
IMF raises concerns over Pakistan’s pension burden in budget 2024-25
- 27-Jun-2024
ISLAMABAD: The International Monetary Fund (IMF) has raised concerns regarding the raising pension burden in Pakistan as some retired government employees in the country receiving more than Rs 1.6 million in pension, ARY News reported on Thursday, citing sources. Sources close to the development disclosed that the IMF is worried about the issue of double […]