Collection and collectors – The flawed tax system

At a time when the parallel economy is booming and influential groups and sectors appear as untouchable as ever, government efforts to document the economy have once again fallen prey to the business lobby. The most recent example of this was the imposition of a 0.6 per cent withholding tax on those who do not . . . → Read More: Collection and collectors – The flawed tax system

Gas Prices: Tariff up by 67%

The government increased on Monday natural gas tariff by four to 67 per cent for different categories. It also raised tax rates on all petroleum products to allow a partial reduction in their prices for the month of September.

The increase in gas rates was one of the key requirements of the International Monetary Fund . . . → Read More: Gas Prices: Tariff up by 67%

Germany refuses to pay Greece €279bn

Athens officially quantifies sum which includes repayment of forced loan and return of archaeological treasures

Greece’s deputy finance minister has said that Germany owes it nearly €279bn (£205bn) in reparations for the Nazi occupation of the country.

Greek governments and private citizens have pushed for war damages from Germany for decades but the Greek government . . . → Read More: Germany refuses to pay Greece €279bn

Despite energy woes Pakistan’s economy hits 8-year high

Pakistan plans to boost growth to an eight-year high as the government of Prime Minister Nawaz Sharif battles electricity shortages that have undermined South Asia’s second-biggest economy.

The economy will expand 5.1 percent in the year starting July from an estimated 4.1 percent in the outgoing year, Finance Minister Ishaq Dar . . . → Read More: Despite energy woes Pakistan’s economy hits 8-year high

MNA’s hit by price hikes, demand 20% increment: Manzoor Watoo

“Finance Minister Ishaq Dar should announce a 20 per cent in salaries of government employees and pensioners because they have been badly affected by the unprecedented hike in the price of food items,” Mian Mazoor Wattoo, Punjab president of Pakistan Peoples Party, said on Sunday.

. . . → Read More: MNA’s hit by price hikes, demand 20% increment: Manzoor Watoo

What became of PIA’s privatization?

Pakistan’s commitment to the International Monetary Fund (IMF) to sell 26% shares of national flag carrier Pakistan International Airlines (PIA) by the end of this year was not sacrosanct and a lot depended on the report of financial adviser, said Privatisation Secretary Amjad Ali Khan. . . . → Read More: What became of PIA’s privatization?

Musharraf defends his (mis)deeds

Pakistan’s former military ruler Pervez Musharraf has defended himself in his first interview since his house arrest earlier this year, telling a local television station he did his best for the nation.

The interview, recorded several weeks ago, aired late on Thursday, just days before a special tribunal to decide whether Musharraf committed high treason . . . → Read More: Musharraf defends his (mis)deeds

FBR to go after the rich

In an attempt to tighten the noose around the affluent tax evaders, the Federal Board of Revenue (FBR) will target residents of the upscale neighbourhoods in metropolitan cities.

Talking to media about the move, FBR Chairman Tariq Bajwa said on Wednesday that residential landholders in the posh areas would be the first target of the . . . → Read More: FBR to go after the rich

Give Musharraf a second chance

Over the last five years, one question that has remained of integral significance amongst political contentions has been; was former military chief Pervez Musharraf better than this current ‘battered but not shattered’ democracy?

You can easily find a group of people who believe that his ‘martially-democratic’ epoch from 1999 to 2008 was better than the . . . → Read More: Give Musharraf a second chance

IMF likely to question Pakistan’s high defence budget in future deals

By Shahbaz Rana

Pakistan’s defence budget will come under scrutiny in any future arrangement with the International Monetary Fund, as it will be difficult for the IMF to present a case in its board where defence spending is higher than development expenses, says a former IMF official.

. . . → Read More: IMF likely to question Pakistan’s high defence budget in future deals