Pakistani salaried workers demand tax reduction in letter to PM
Pakistan’s salaried class has united to write a letter to the prime minister, requesting tax relief and policy revisions. Salary Alliance Pakistan, representing these workers, also sent a copy to the finance minister. The letter criticises the government’s disproportionate tax burden on salaried individuals, noting that their tax contributions exceed
NEPRA approves increase of Rs7.12 in electricity tariffs
National Electric Power Regulatory Authority(NEPRA) has approved a government request to increase the basic electricity tariff by Rs7.12 per unit, affecting all consumers nationwide, including K-Electric. Customers using up to 200 units will be exempt from this hike for three months. Read More: Lecturer arrested for blackmailing female education officer This follows
Oil, ghee, and sugar prices increase massively
Following the government’s tax-heavy budget to meet IMF requirements, prices of basic food items have risen. As of July 1, 2024, sugar, cooking oil, and ghee prices have increased. A 50-kilogram bag of sugar now costs Rs6,950, up by Rs250. Ghee prices have surged by Rs300, and cooking oil has
Economy airfare soars by 150%
Pakistan’s new budget faces criticism for imposing steep taxes on air travel, significantly increasing costs for Umrah pilgrimages, international travel, and business trips. Starting July 1, airfare hikes have compounded issues for Umrah pilgrims and travelers to Gulf countries, Europe, the USA, Canada, and Australia. Moreover, the federal excise duty
Budget 2024-25: Bureaucrats and military personnel gets major relief
The federal government has decided to give major relief to bureaucrats and military personnel in the new budget for the fiscal year 2024-25, even though it introduces new taxes for ordinary citizens. Bureaucrats and military officials, both serving and retired, will not have to pay income tax on the sale
Federal cabinet rejects new duty on solar panels
WEB DESK: On Tuesday, the federal cabinet decided not to impose new duties on solar panels, aiming to ensure that renewable solar energy remains accessible to all citizens. Prime Minister Shehbaz Sharif, who chaired the meeting, highlighted that the government’s top priorities are economic security for the common man and
Rs250 bn development budget cut precedes official approval
WEB DESK: Federal Minister for Planning, Ahsan Iqbal, confirmed a cut of 250 billion rupees in the federal development program, citing stringent conditions from the International Monetary Fund (IMF) for new programs. Iqbal stated that drastic measures were necessary to offset losses and these were reflected in the development budget.
APTMA calls on govt to reconsider regressive tax policies targeting textile industry
WEB DESK: All Pakistan Textile Mills Association has expressed grave concerns over the detrimental tax and customs proposals outlined in the Finance Bill 2024, warning of severe repercussions for Pakistan’s textile industry. These measures, deemed regressive and punitive by APTMA, pose an existential threat to the sector, which constitutes over
New taxes on salaried employees to accelerate ‘brain drain’ in Pakistan
WEB DESK: Pakistan Business Council warns of accelerated brain drain due to proposed budgetary measures. The country’s leading corporate advocacy group, the PBC has issued a stern warning regarding the potential impact of proposed budgetary measures on the salaried class, suggesting these could significantly “accelerate brain drain” in Pakistan. In
Budget 2024-25: Solar panels prices set to decrease
In an effort to promote green energy in Pakistan, the federal government announced on Wednesday a discount on solar panels in the 2024-25 budget. To meet local demand, the government will provide discounts on solar plants, machinery, batteries, raw materials, and other components used in the manufacturing of solar panels.
