The trade deficit in Pakistan has reached an all-time high.

During the first 10 months (July-April) of the current fiscal year, 2021-22, the country’s trade imbalance set an all-time high, increasing by 64.79 percent.According to Pakistan Bureau of Statistics figures, the trade imbalance reached $39.264 billion in 2020-21, up from $23.826 billion in the previous year (PBS). According to the PBS monthly summary of foreign […]

Under the NFC Award, the federal government provides an additional Rs. 598 billion to provincial governments.

During the first nine months (July-March) of the current fiscal year (2021-22), the federal government transferred an extra Rs. 598 billion to provincial governments under the National Finance Commission (NFC) Award, compared to the same time the previous fiscal year.According to the Ministry of Finance, the Imran Khan-led government released Rs. 2,584 billion from the […]

FTO directs FBR to form a High-Power Committee to Investigate the Refund Scam.

While deciding on an Own Motion investigation on April 28, 2022, the Federal Tax Ombudsman (FTO) authorised the Federal Bureau of Revenue (FBR) to form a high-powered inquiry committee into a flagrant and eye-opening income tax refund fraud of Rs. 123.364 million.According to the information, when examining the issuing of a fake refund of Rs. […]