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Trader-Friendly Scheme Not Viable, Chief Coordinator Told FBR – Business & Economy

by Alexandra Hartman Editor-in-Chief
written by Alexandra Hartman Editor-in-Chief

The Chief Coordinator of the Federal Board of Revenue (FBR) Trader Friendly Scheme 2024 has clearly informed the FBR that the scheme is not viable and does not attract any trader, retailer or shopkeeper in its current form. might do

Official sources told the Business Recorder that the chief coordinator of Tajar Dost Scheme 2024 Mohammad Naeem Mir met the Chief Commissioners Inland Revenue and FBR Member IR (Operations).

In the current form of the scheme it is impossible to enroll 30 lakh retailers/vendors across the country. Naeem Mir told the Chief Commissioners of Inland Revenue that if the scheme is to be successful, major amendments are needed.

According to sources, the chief coordinator of the Trader Friendly Scheme 2024 told the FBR that the traders were not given any protection that their records of the last five years would not be opened by the tax department. No exemption from past audit is granted if a trader is registered under this scheme. Surprisingly, the names of the traders benefiting from this scheme will not be included in FBR’s list of active taxpayers. How can a registered trader be denied ATL benefits?

If the price reduction is carried out as per the figures mentioned above, the price of petrol will be Rs 289.06 per liter instead of Rs 293.94 and the new price of high speed diesel is expected to be reduced from Rs 290.38 per liter to Rs 283.01 per litre.

#Government #cuts #prices #petroleum #products #Business #Economy
2024-05-01 18:25:36

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Economy

State Bank receives one billion 10 million dollars from IMF for Pakistan – Business & Economy

by Alexandra Hartman Editor-in-Chief
written by Alexandra Hartman Editor-in-Chief

State Bank of Pakistan received this amount following the Executive Board of the International Monetary Fund (IMF) approved the release of the last tranche of $1.10 billion for Pakistan under the Standby Arrangement (SBA). Is. After the recovery of this amount, the standby arrangement agreement was completed between the two parties.

The IMF Executive Board meeting regarding Pakistan was held in Washington, in which the immediate release of one billion 100 million dollars to Pakistan was approved.

According to sources, the IMF approved the last installment under the standby arrangement.

IMF may issue tranche later this month, no Plan B, Finance Minister

After the approval of this amount, the standby arrangement agreement of 3 billion dollars between Pakistan and IMF was completed.

Pakistan was supposed to get $3 billion under the Standby Arrangement Agreement, but Pakistan has already received $1.9 billion from the IMF.

At the moment, the eyes of the central banks of the whole world are on the United States, where the Federal Reserve Bank is going to decide the interest rate for the United States today.

According to the Business Recorder, market experts believed the central bank may choose to delay any easing of monetary policy as it looks to strike a balance between growing growth and keeping inflationary pressures under control. Is.

Pakistan is considering moving towards digital currency, Finance Minister

Some had said that factors supporting a rate cut might include lower CPI inflation, a manageable current account, stable local and international oil prices, as well as a stable currency.