PM Shehbaz Proposes Mega Incentives for IT Sector in Fiscal Budget

A high-level meeting chaired by Prime Minister Shehbaz Sharif was held in Islamabad with the aim of bolstering the information technology sector in the upcoming fiscal year 2023-24. The Prime Minister issued directives to finalize budget proposals for the development of the Information Technology and Telecom sector, emphasizing the need for increased revenue and incentives […]

Government Considers Slashing Duty on Mobile Phones in Budget

The Federal Board of Revenue (FBR) is considering the suggestions of the Pakistan Mobile Phone Traders Association to reduce the duty on mobile phones in the federal budget for the fiscal year 2023-24. Previously, the government was obliged to raise the duty on cellphones by 100 to 150 percent, due to which only Rs5 billion […]

Government Withdraws Withholding Tax on IT sector

On Friday, Minister for Finance and Revenue Miftah Ismail announced that the government has now decided to withdraw withholding tax and condition of statements imposed on the IT sector of Pakistan. While concluding the budget debate conducted in the National Assembly, the finance minister stated, “the IT companies earning less than Rs 80 million would not […]

Law Makers Table Bill for Setting Up National University of Security Sciences

In the recent news, a bill calling for the establishment of the National University of Security Sciences was presented in the session of the National Assembly held on Wednesday. As per details, Pakistan Muslim League-Nawaz (PML-N) MNA, Chaudhry Hamid Hameed, tabled the bill for the establishment of the university in the lower house. National […]

The new 75 Paisa taxation on calls longer than 5 minutes ignites another public outrage

The Minister for Finance, Shaukat Tareen on Friday declared a tax of 75 Paisas to be charged on mobile calls that are longer than five minutes, during the Budget speech of 2021-2022. This decision invoked another public outrage and a demand to withdraw this taxation. The said decision was infuriating to millions of Pakistanis who […]

Govt of Sindh allocates Rs6.5 billion to acquire electric buses for Karachi

The government of Sindh has allocated an amount of Rs6.5 billion in its latest budget for the monetary year 2021-22 for acquiring electric buses for Karachi, as reported on Wednesday. In his budget allocation speech on Tuesday, Chief Minister Syed Murad Ali Shah stated that an advanced city requires a modernized transportation system. “We can engage […]

PTI Government presents budget 2021-22 – Here are some of the highlights

On Friday, Finance Minister Shaukat Tarin presented the budget 2021-22. He announced the total size of the budget or the total expenditure budget for the next year stood at Rs. 8.487 trillion — around 19 percent higher than last year’s estimated expenditure of Rs. 7.136 trillion. The finance minister announced that for FY22, the government […]