News 804

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  As Pakistan seeks a multibillion-dollar bailout from the International Monetary Fund (IMF) to stabilise its chronically ailing economy, the global lender has suggested imposition of a standard individual income tax rate of up to 45% on agriculture income – something that may end the disparity in income tax regime without the need to amend the Constitution. The condition is part of the structural benchmarks the IMF has defined for the next bailout programme that Pakistan is negotiating with the global lender, according to sources in the Ministry of Finance. Subject to signing of the new agreement, the sources said that the global lender has set the October 2024 deadline to amend the existing provincial laws to bring them at par with the federal income tax law. The IMF has also asked for rescinding any income tax exemption for the livestock sector by October this year. Under the Constitution, the federal government cannot impose taxes on agricultural income. The provinces are au...

atOptions = { 'key' : '8eb3f102bd1d719846a84d267610e529', 'format' : 'iframe', 'height' : 90, 'width' : 728, 'params' : {} }; src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjoCj5gfq9huggx9XxJZ6XjyFZGP0tnND93IkQH_8Xwh_qFnRlNhGuIu2fxdGRhyphenhyphenNrB0aJdyxa1wffQiSr1F_tu2eg2b11OS_R9oLkudPTQtgdbfQ9okf2_OS7TidnoqbxSBJLiqoR8VumI1L3qpy9walCFnpTyzNoYc4T0v2YquwpBWJlCYilwzfnLue0/w455-h226/CPEC1691316883-0.jpg" story="" tribune.com.pk="" width="455" />   He said the strategic relations between the two countries were moving forward under the CPEC. “There are immense opportunities to increase exports through the port of Gwadar and special economic zones,” he said while addressing a day-long international conference . Meanwhile, Planning Minister Prof Ahsan Iqbal met with the Chinese envoy to discuss the ongoing and upcoming initiatives under the CPEC Phase 2.

  The federal government on Tuesday announced a two-day public holiday for the 9th and 10th of Muharram , effective from Tuesday, July 16, to Wednesday, July 17. "[…] the Prime Minister is pleased to declare 16th and 17th July, 2024 (Tuesday and Wednesday) as public holidays on the occasion of Ashura (9th & 10th Moharram 1446 AH)," a notification issued by the Cabinet Division stated. Muslims worldwide will commemorate this religious occasion with deep sadness and solemnity. To ensure security in this Islamic month, the government has called in  military  and paramilitary personnel to assist the civil administration in maintaining law and order in the country.

  atOptions = { 'key' : '012e0f4f6e5340642f255255eddcab37', 'format' : 'iframe', 'height' : 600, 'width' : 160, 'params' : {} }; src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgv-B5IN-k_utVGiXaVpw-_zyOgMvlHTbznVuURu2YSiHLsHK9yyKNMcpnNKyS9Qildrh5RXDamkJq7CaFxg8yS-xOudPnPBy7BZ4sMW5TUO7pXDniSj8D2MTdC0y8n_H6dW1NrbecwlPlpFPyL2bD7m-DeQpUQdWw4-I75xIxxBIzmbvgZyl1hW19x110/w372-h273/Supreme-Court-of-Pakistan1710864672-0.jpg" width="372" /> The chief justice pressed for clarity on the ECP's adherence to constitutional texts in their decision-making processes, asking, "Was the Election Commission's decision regarding reserved seats for the Balochistan Awami Party under the law?" To which the SIC's counsel responded that the ECP had not conducted a transparent allocation process for reserved seats, as he cited precedents and legal texts to support his arguments. ...