Islamabad
May 5, 2021
Islamabad : Despite Covid-19 posing numerous challenges, it has created an opportunity for Pakistan to respond to threats emanating from climate change, said Special Advisor to Prime Minister on Climate Change, Malik Amin Aslam.
Mr Amin was delivering his keynote address at the roundtable webinar on ‘Debt swaps for green recovery: opportunities, challenges and way forward for Pakistan,’ organised here by Sustainable Development Policy Institute (SDPI).
Mr Amin said that during the time of pandemic, Pakistan initiated green stimulus programme which is focused on green employment and saving the nature. As the country is inclined towards clean green initiatives, this government is focusing on financing this transition through various mechanisms, he said adding that in the eco-system restoration fund $120 million from World Bank is being utilised for eco-system restoration. He said the objective is creation of estimated 100,000 green jobs based on these act
Telecom Sector Urges Govt to Abolish WHT on Services
Aimed at making internet and data services affordable to low-income groups, the telecom sector has proposed the abolishment of withholding tax on telecom services.
According to budget proposals for 2021-22, the telecom sector has quoted research published by the Sustainable Development Policy Institute (SDPI), Pakistan is among the highest-taxed telecom markets in the world while it ranks second highest in telecom taxation in South Asia.
The telecom sector has stated that currently 12.5% WHT is collected from all telecom users regardless of their income tax liability. Out of over 220 million, approximately 2.9 million file taxes, which is one percent of the total population. Despite the fact that a majority of the country’s population had non-taxable income, they are paying WHT which they can never claim back.
ISLAMABAD: Pakistan’s total salary and pension bills will exceed its total general revenue on annual basis over five to seven years as Islamabad will have to obtain the next IMF loan with.
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