First six months of fiscal year
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By Mehtab Haider
ISLAMABAD: Pakistan’s budget deficit has risen to Rs1,137.925 billion, equivalent to 2.5 percent of the Gross Domestic Product (GDP), in the first half (July-Dec) of the current fiscal year against 2.3 percent of the GDP in the same period of the last financial year.
The major revenue spinners of non-tax revenues are the surplus profit of the State Bank of Pakistan (SBP), up to Rs372 billion, and the second highest revenue getting sector is the petroleum levy up to Rs275.317 billion in the first six months of the current fiscal year. If the petroleum levy had not fetched the additional non-tax revenues, then the deficit might have risen further in the first six months of the ongoing fiscal year. Despite these harsh measures, the budget deficit has exceeded at a higher pace in the first half of the current fiscal year compared to the same period of the last year.
ISLAMABAD: Pakistan’s budget deficit has risen to Rs1,137.925 billion, equivalent to 2.5 percent of the Gross Domestic Product , in the first half of the current fiscal year against 2.3.
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February 4, 2021
ISLAMABAD: Pakistan’s budget deficit has risen to Rs1,137.925 billion, equivalent to 2.5 percent of the Gross Domestic Product (GDP), in the first half (July-Dec) of the current fiscal year against 2.3 percent of the GDP in the same period of the last financial year.
The major revenue spinners of non-tax revenues are the surplus profit of the State Bank of Pakistan (SBP), up to Rs372 billion, and the second highest revenue getting sector is the petroleum levy up to Rs275.317 billion in the first six months of the current fiscal year. If the petroleum levy had not fetched the additional non-tax revenues, then the deficit might have risen further in the first six months of the ongoing fiscal year. Despite these harsh measures, the budget deficit has exceeded at a higher pace in the first half of the current fiscal year compared to the same period of the last year.
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January 27, 2021
ISLAMABAD: Federal Minister for Information and Broadcasting Shibli Faraz Tuesday said the federal cabinet had approved constitution of a commission of inquiry on the Broadsheet issue, under the chairmanship of Justice (retd) Azmat Saeed, to bring the truth before the nation.
Briefing the media about the federal cabinet decisions and replying to their questions, he said the commission was set up under the Commission of Inquiry Act 2017, instead of a committee, to investigate the Broadsheet case.
The minister said that besides the Broadsheet issue, Hudaibiya Sugar Mills scam and Surrey Palace of the PPP leaders would also be investigated in future. The inquiry commission, he explained, would submit its findings on the Broadsheet issue within 45 days and expose those who had played key role in destroying country’s economy. The commission, as per its terms of reference (ToRs), could summon any institution or individual or seek documents. Shibli said the
Azmat to probe Broadsheet, Hudaibiya, Surrey Palace cases
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January 27, 2021
ISLAMABAD: Federal Minister for Information and Broadcasting Shibli Faraz Tuesday said the federal cabinet had approved constitution of a commission of inquiry on the Broadsheet issue, under the chairmanship of Justice (retd) Azmat Saeed, to bring the truth before the nation.
Briefing the media about the federal cabinet decisions and replying to their questions, he said the commission was set up under the Commission of Inquiry Act 2017, instead of a committee, to investigate the Broadsheet case. The minister said that besides the Broadsheet issue, Hudaibiya Sugar Mills scam and Surrey Palace of the PPP leaders would also be investigated in future.