Sports have long been an integral part of our culture, from the earliest form of football in ancient China, Cùjū, to the spectacle of the Colosseum in ancient Rome. Sports and entertainment leaders around the globe have long understood the importance of atmosphere and excitement in keeping fans happy and engaged. Infectious diseases present an omnipresent threat to the health and safety of the global community. In 2020, the COVID-19 …
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The Government of Pakistan has recently tabled an Amendment Bill to the National Electric Power Regulatory Authority (NEPRA) Act (Regulation of Generation, Transmission and Distribution of Electric Power Act 1997) to recover the stock of circular debt in the power sector from current consumers of electricity in the country. This has sparked a debate on the burden that will fall on consumers through the electricity tariff spike that will follow. …
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These are extraordinary days where extraordinary steps and out of box solutions are required. Budget deficit was estimated around 7.2 percent in fiscal year 2019-20 which is around 8.9 percent; likewise budget deficit is being estimated at around 9.1 percent which will cross 10 percent when the actual numbers will be calculated in 2021. Pakistan’s public debt has risen by almost 40 percent in the past two years; from Rs. …
Read More »Even a cursory look at the development of Singapore shows that the country has grown mainly by ‘living within available means’ or avoiding deficit financing. The country has also become hub of industrial and commercial activities because of very low taxes being collected from corporate entities and individuals. The added advantage is confidence in government policies, while Pakistan continues to suffer from budget deficit, trade deficit and on top …
Read More »If one looks at the composition of annual budget, one point is very clear that revenue collection is barely enough to meet the current expenditure. Often, amounts are borrowed to meet the shortfall and almost the entire developmental expenditures are financed through aid, grants and softer loans acquired from multilateral financial institutions. The budget for next financial year is not likely to be very different from the previous budgets. …
Read More »The overseas investors getting upset to deal with various agencies responsible for tax collection have urged upon the government to integrate all revenue collections under one ministry to improve doing business environment. Overseas Investors Chamber of Commerce and Industry (OICCI) the representative body of the overseas investors in Pakistan, however, has extended its support to the Sindh government in its efforts to increase revenue collection and streamline the taxation …
Read More »Total revenues of Pakistan’s telecom sector have been raised to Rs452.8 billion in fiscal year 2016 as compared to Rs446 billion in fiscal year 2015. The telecom sector in Pakistan, besides the auto industry, is moving in fast path enjoying high demand as it contributed Rs157.8 billion to the national exchequer. Increasing is ongoing in several sectors in which IT and mobile companies are providing new services and the …
Read More »Pakistan Railways has always remained ahead of all in the nationwide sport activities and keeping that in view it has been planned to raise sports budget for the department from the FY2016-17. Currently the players are rewarded with a gold medal and cash prize of Rs10,000 which would be increased to Rs50,000. China-Pakistan Economic Corridor (CPEC) would also assist develop transportation system of Pakistan. It is also revealed that …
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