NA Passes Financial Institutions Bill to Improve SME Financing
The National Assembly has passed a legal amendment bill, ‘Financial Institutions (Secured Transactions) (Amendment) Bill, 2020,’ to improve access to loans for small and medium enterprises (SMEs).For now, SMEs have access to less than 10 percent of pri…
Punjab Allocates Rs. 2.653 Trillion Budget With No New Taxes for 2021-22
The Punjab government presented the budget for the fiscal year 2021-22 with an estimated outlay of Rs. 2.653 trillion, including an Annual Development Program (ADP) worth Rs. 560 billion.The budget session was held in the newly-constructed building of …
IMF is Not Cancelling its Loan to Pakistan: Shaukat Tarin
The federal Minister for Finance, Shaukat Tarin, has announced that the Extended Fund Facility (EFF) program will continue as both Pakistan and the International Monetary Fund (IMF) want it to move forward.He made these remarks while speaking to the me…
FBR Issues Clarification Over Taxes on Pensions and Salaries
The Federal Board of Revenue (FBR) has categorically said that no tax has been imposed on pensions, major components of salary, gratuity funds payments, leave prior to retirement (LPR), commutation of pension and other allied benefits.The Federal Board…
Govt to Transfer Telephone Industries of Pakistan to NRTC
The government has decided to hand over the loss-making entity — the Telephone Industries of Pakistan (TIP) — to the National Radio & Telecommunication Corporation (NRTC) to revitalize it.The federal Cabinet …