New SOE Policy Can Help Govt Earn Rs. 64 Billion Without Any New Taxes
The Pakistan Tehreek-e-Insaf (PTI) government could collect twice as much non-tax revenues as the tax amount as dividends from state-owned enterprises (SOEs), including the Oil and Gas Development Company Limited (OGDCL), the Pakistan Petroleum Limited (PPL), and the Pakistan State Oil (PSO).
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This will be good news for the government that is desperately searching for alternative sources of revenue without having to hike or implement new taxes.
Express Tribune reported that the government can earn an additional amount of Rs. 34 billion to Rs. 64 billion in dividends from the SOEs in the next fiscal year starting 1 July 2021, with a policy of these companies paying 50 percent of the net income in dividends to their shareholders.