UK economy suffers back-to-back declines in October 2024
- 13-Dec-2024
UK’s economy shrank for a second month in October in the run-up to the new government’s first budget, the first back-to-back falls in output since the onset of the COVID-19 pandemic. Gross domestic product shrank 0.1% month-on-month in October, as it did in September, the Office for National Statistics said. It was the first consecutive […]
Budget 2024: Key points in UK Labour’s tax-and-spend plan
- 31-Oct-2024
UK finance minister Rachel Reeves presented her first budget statement to parliament on Wednesday, unveiling the biggest tax rises since 1993 and changes to the government’s fiscal rules to increase borrowing for investment. Below are the main points from her speech: NEW FISCAL RULES Reeves said she would eliminate the current budget deficit, or the […]
Pakistan’s elite enjoy benefits on tax extracted from salaried class
- 07-Jul-2024
ISLAMABAD: The inflation-hit nation is bearing the brunt of massive taxes imposed by the government in budget 2024-25 whereas Pakistan’s elite are enjoying the benefits on tax extracted from the salaried class, ARY News reported. ARY News program “Sawal Yeh Hai” hosted by Maria Memon revealed that the government is showering benefits on the elite […]
Budget 2024: Flour price likely to increase in Pakistan
- 04-Jul-2024
KARACHI: The recently announced budget-filled with taxes further burdened the inflation hit citizens as the price of wheat is likely to increase in Pakistan, ARY News reported on Thursday. According to the Flour Mills Association, a significant increase in taxes on the recent announced budget 2024-25 caused the price of flour to be increased by […]
Budget 2024-25: Regulatory duty increased on THESE imported items
- 01-Jul-2024
ISLAMABAD: The government has increased regulatory duty on hundreds of imported items in the fiscal year budget 2024-25, ARY News reported. According to the Statutory Regulatory Order (SRO), the regulatory duty has been increased on various items ranging from 5% to 55% under Finance Bill 2024, including: Milk and cream (25%), Yogurt, butter, and nuts […]
Sindh Governor assents to Budget for FY 2024-25
- 30-Jun-2024
KARACHI: Sindh Governor Kamran Khan Tessori on Sunday gave assent to the Rs3.056 trillion budget for the next fiscal year 2024-25. The process of approving the budget has completed with the signature of the Sindh Governor, with Finance Bill 2024-25 to be effective from tomorrow. It is pertinent to mention here that the Sindh Assembly […]
IMF says budget 2024 approval ‘not enough’, demands Pakistan to ‘Do more’
- 29-Jun-2024
ISLAMABAD: The International Monetary Fund (IMF) on Saturday termed budget 2024-25 approval as not enough and demanded Pakistan to do more, ARY News reported citing sources. The National Assembly (NA) yesterday approved the Federal Budget for the fiscal year 2024-25 with a total outlay of Rs18,870 billion. According to sources, IMF wants Pakistan to hike […]
Punjab Assembly approves Rs5.4tr budget for FY 2024-25
- 26-Jun-2024
LAHORE: The Punjab Assembly on Wednesday approved Rs5.4 trillion budget for the Fiscal Year (FY) 2024-25 by a majority vote, ARY News reported. The new provincial revenues and budget measures will take effect from July 1, 2024, wherein taxes that had been in place for 70 years have been updated, said a statement issued today. […]
JI launches ‘resistance movement’ against power outages, budget 2024
- 25-Jun-2024
LAHORE: Jamaat-e-Islami (JI) has launched a ‘resistance movement’ with nationwide protests against the prolonged load shedding and the recently proposed budget, which he described is not ‘people-friendly’, ARY News reported on Tuesday. While talking to media representatives in Mansoorah, Lahore, amir Jamaat-e-Islami – Hafiz Naeemur Rehman – has devised a national agenda aimed at peaceful […]
Gilgit-Baltistan unveils Rs1.402 trillion budget for FY2024-25
- 24-Jun-2024
GILGIT: The Gilgit-Baltistan government on Monday unveiled the budget of Rs1.402 trillion for the fiscal year 2024-25. Presenting the budget 2024 in the provincial assembly, Finance Minister Engineer Ismail said Rs 86.6 billion was allocated for non-development expenditures and Rs 34.5 billion for development projects. “The development budget includes Rs 20 billion for the annual […]