Issue 5

Budget Study Centre Issue 5
December 12, 2017


Fortnightly Budget News Alerts

K-P revenue authority generates Rs34b in Taxes

Express Tribune (December 7, 2017)

PESHAWAR: Khyber Pakhtunkhwa Revenue Authority (KPRA) has generated Rs34 billion in tax collections since its inception in 2013, according to KPRA Director General Tahir Aurakzai, adding this amounts to 56% of provincial tax revenue collected in 2016 and 2017. Speaking at a multi stakeholder’s awareness and sensitization session on the revenue generation by KPRA, Aurakzai

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40 percent growth witnessed in company incorporations during November 2017

Pakistan Observer (December 6, 2017)

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) during the month of November 2017 registered 881 new companies. As compared to the corresponding month of last financial year, it represents a growth of 40 percent. The new incorporation raised the total number companies registered with SECP to 84,201. The massive increase in number

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US tax overhaul will increase debt and interest costs

Pakistan Today (December 5, 2017)

WASHINGTON: A U.S. tax overhaul will increase the government’s need to issue more Treasuries as interest costs on the country’s debt become a larger drain on the budget. The U.S. Senate on Saturday approved a tax rewrite, which the Congressional Budget Office has estimated would double the deficit over the coming decade to around $2.8 trillion. That would add to the worsening

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Canada economic growth slows to 1.7pc in 3Q

The Nation (December 4, 2017)

OTTAWA – Canada’s economy grew at a much more modest annualized rate of 1.7 percent in the third quarter, as Canadians curbed their spending, the government statistical agency said. Exports fell while imports were flat, business investment weakened, and household outlays pulled back slightly from the previous quarter said Statistics Canada. The figure was close to the 1.6 percent growth

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Pakistan’s economy has a bumpy ride ahead but the future is bright, study says

The DAWN by Afshan Subohi (December 4, 2017)

PAKISTAN’S future holds promise despite all what people experience, read and hear in a country that seems to fray at the edges. It would sure be a bumpy ride ahead but there is slim chance of a derailment, a study says. The picture ‘Pakistan State of Future Index’ paints is not a grim one, and, with right adjustments, the chances are real that the country could become a fairly stable, growing state

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FBR notches 20pc increase in revenue collection for July-November 2017

Pakistan Today (December 2, 2017)

ISLAMABAD: Tax collection went up by 20 per-cent during July-November period of financial year 2017-18 touching Rs1.302 trillion, the Federal Board of Revenue revealed on Thursday. During November, FBR collected Rs270 billion, rising 24 per-cent compared to same period last year (SPLY) but still recording a deficit of Rs24 billion, reported Express Tribune. Tax refunds of Rs13 billion were

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Study urges involvement of all stakeholders in budget preparation

The News (December 1, 2017)

PESHAWAR: A study conducted by the Centre for Peace and Development Initiatives (CPDI) suggested that there was a dire need to discuss the district budgets with citizens groups, civil society and media for achieving the local development agenda. 
It said there were several lacunae in the district budgets due to the absence of planning officers. The study said the local body

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India’s economy rebounds from three-year low

Business Recorder by Parvez Jabri (December 1, 2017)

NEW DELHI: India’s economy picked up in the second quarter, official data showed Thursday, rebounding from a sharp slump in the wake of government reforms that dragged growth to three-year lows. Figures from the Central Statistics Office showed Asia’s third-largest economy accelerated after five quarters of slowing growth, as the impact of a sudden cash ban and launch of a nationwide tax receded. GDP

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With fiscal deficit at 1.2pc, first quarter shows strong financial performance

Business Recorder by Fawad Maqsood (November 29, 2017)

ISLAMABAD: With fiscal deficit recorded at 1.2 per cent of the gross domestic product (GDP), the federal government’s financial operations and debt statistics for first quarter of the current fiscal year show strong performance and prudent expenditure. On one hand, revenue collection, especially tax revenue collection, registered a strong growth of over 20 per cent during the first quarter

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Govt. puts ADB’s $990-million smart-meters project on hold

Express Tribune by Shahbaz Rana (November 29, 2017)

ISLAMABAD: In a development that may affect relations with a Manila-based lending agency, Pakistan has decided to put on hold a $990-million (Rs105 billion) smart metering project that was meant to introduce advanced infrastructure in power distribution companies. The Asian Development Bank (ADB) wanted Pakistan to implement the Advanced Metering Infrastructure (AMI) project, but the Ministry of Power and

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Tackling trade deficit by facilitating exports

Express Tribune by Aadil Nakhoda (November 27, 2017)

KARACHI: The Pakistan Bureau of Statistics (PBS) reported that the trade balance deficit in FY17 stood at $32.6 billion. This was an increase of more than 36% over the value reported in FY16. Imports increased by more than 18%, while exports decreased by 2%. Although the relative decline in exports is marginal, it is disconcerting that exports are currently at $20 billion. On the other hand, imports have increased

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Concerns over delay in PFC award

Dawn (November 24, 2017)

TOBA TEK SINGH: The Centre for Peace and Development Initiatives (CPDI) has expressed concerns over a delay in the announcement of Punjab Provincial Finance Commission (PFC) award. In a press conference here on Thursday, CPDI District coordinator Muhammad Shahid said the process of devolution was incomplete without a formula to share the provincial divisible pool among the local

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