ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb on Tuesday highlighted that 43 percent of the sectors in Pakistan’s economy pay less than one percent of the total tax collected, urging wholesalers, distributors and retailers to improve their contributions.
Pakistan’s narrow tax base and persistent tax evasion issues lead to insufficient revenue collection for the country’s fragile economy each year. The shortfall exacerbates the government’s tendency to run a high fiscal deficit, often financed through domestic and international borrowing, which increases the nation’s debt burden.
The country’s top tax collection body, the Federal Board of Revenue (FBR), collected Rs1.455 trillion ($5.2 billion) in July-August against the projected target of Rs1.554 trillion ($5.6 billion), according to provisional figures compiled officially over the weekend.
“43 percent sectors of this economy pay less than one percent tax so we have to make a collective effort and request these sectors to contribute otherwise we will keep going to the IMF [International Monetary Fund] for more [loans],” the finance minister said.
“Wholesalers, distributors, retailers we request you again to make a move to contribute to the country’s economy,” he continued. “We request them to help us.”
The minister made it clear the tax imposed on these sectors would not be withdrawn, pointing out that such a step would create more problems for the salaried class and manufacturing sector.
Pakistan has set a challenging tax revenue target of Rs13 trillion ($46.66 billion) for the current fiscal year, nearly a 40 percent increase from the previous year, to strengthen its case for a new bailout deal with the IMF.
The South Asian nation’s new administration has also decided to digitalize the tax collection system to prevent leakages, even as a large segment of the national economy remains undocumented.
Aurangzeb highlighted his commitment to cutting down the size of the federal government, adding that a method was being followed in which six ministries were initially chosen, of which two would be abolished.
However, he did not specify which ministries he was referring to.
“There will also be a reduction in the number of officers from grade 17 to 22,” he added. “We are closing the entities and departments that can be shut down.”
The minister said once the implementation of “rightsizing” the initial ministries was completed, the government would address the next five ministries and continue the process.
He also mentioned that remittances had remained at an all-time high in recent months, and highlighted that rating agencies Fitch and Moody’s had also upgraded Pakistan’s ranking by one notch.
Pakistan’s finance minister says 43 percent economic sectors contribute less than one percent tax
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Pakistan’s finance minister says 43 percent economic sectors contribute less than one percent tax
- Muhammad Aurangzeb urges wholesalers, distributors and retailers to improve their tax contributions
- Pakistan’s tax collection body generated $5.2 billion in July-August, falling short of its $5.6 billion target
Pakistan government says recently proposed judicial legislation to be in ‘greater good’ of people
- The government plans to bring constitutional amendments in parliament to increase retirement age of apex court judges
- Ex-PM Khan’s PTI opposition party has criticized the move and alleges it is designed to favor the country’s top judge
ISLAMABAD: Information Minister Ataullah Tarar said on Monday a proposed judicial legislation to reportedly extend retirement age of top court judges among other things would be in “greater good” of the masses, with the opposition criticizing the intended constitutional amendment.
The coalition government of Prime Minister Shehbaz Sharif is planning to get a constitutional amendment passed from parliament to allegedly give an extended term to the country’s top judge. The amendment requires a two-thirds majority in both houses of parliament, which are currently in session.
Pakistan’s main opposition party, the Pakistan Tehreek-e-Insaf (PTI), has criticized the move and alleges that it is designed to favor the country’s top judge. Former PM Imran Khan, the PTI founder, this week warned of countrywide protests if the amendment was approved.
Speaking to reporters ahead of the presentation of the amendment before the cabinet, Tarar said judicial reforms were essential to provide speedy justice to the masses and any legislation would be made in collective interest of the nation.
“We are positive about the number game,” he said. “It’s not going to be a person-specific or individual-specific legislation. Whatever is going to happen will be in greater good of the people. It would be to benefit the people, the nation.”
Tarar said it took the courts decades to resolve the cases and measures needed to be taken to ensure speedy justice. Many times, the cause list is not issued, notices are not issued and orders are issued, there should be a balanced system,” he said.
On Saturday, PM Sharif said parliament was the “supreme institution” through which important matters should be resolved.
“To ensure the sanctity of the parliament is maintained, it is necessary that legislation in the national and public’s interest takes place,” Sharif’s office quoted him as saying at a dinner for legislators on Saturday night.
Sharif’s weak coalition government is trying to muster support of enough lawmakers for a two-thirds majority to get the constitutional amendment passed, fearing it can lose a portion of its existing number of seats after an earlier ruling by the Supreme Court on reserved parliamentary seats for women and minorities.
In a verdict on July 12, a 13-member bench of the court declared the PTI eligible for the reserved seats after the Election Commission of Pakistan (ECP) forced the party’s candidates to contest the Feb. 8 polls as independents.
The ECP took the decision after the PTI lost its election symbol in the wake of a prolonged legal battle for not holding proper intra-party polls. Subsequently, the election body refused the reserved seats to the PTI on technical grounds, saying they were only meant for political parties instead of independent candidates.
The Supreme Court overturned the ECP decision, saying it had misconstrued an earlier verdict related to the election symbol by depriving the PTI of the reserved seats. Instead of giving the seats to the party, however, the election body filed a petition, seeking guidance on the matter and questioning the validity of the party’s organizational structure under the circumstances.
In a short order on Saturday, the apex court censured the election regulatory authority for its “dilatory tactics” to avoid the implementation of the judgment.
As per the official tally, the ruling coalition is short of at least 13 lawmakers in the National Assembly and nine in the Senate to gain the required two-thirds majority.
Pakistan’s Multan to host first T20 international series featuring South Africa women
- The three matches provide an opportunity for both sides to gear up for next month’s ICC Women’s T20 World Cup scheduled in UAE
- South Africa, who were runners-up in the last ICC Women’s T20 World Cup, are touring Pakistan for the second time in as many years
ISLAMABAD: Pakistan women under the leadership of Fatima Sana are set to take on Laura Wolvaardt-led South Africa in the three-match T20 series commencing at the Multan Cricket Stadium from Monday, the Pakistan Cricket Board (PCB) said on Sunday, adding that this would be the first T20 international series in the city.
The second and third T20Is will be played at the same venue on 18 and 20 September, respectively. The first and second matches will start at 7pm Pakistan time, while the third will begin at 10am.
This will mark the first time that the picturesque Multan Cricket Stadium will host a T20 and a women’s international series. Previously, the stadium has hosted 11 ODIs and six Test matches.
“The three matches provide an opportunity for both sides to gear up for next month’s ICC Women’s T20 World Cup scheduled in the UAE,” the PCB said in a statement.
South Africa, who were runners-up in the last edition of the ICC Women’s T20 World Cup held in South Africa, are touring Pakistan for the second time in as many years.
“The players have been working hard in training, and the series against South Africa is a great opportunity for us to prepare ourselves well before the ICC Women’s T20 World Cup scheduled next month. South Africa are a strong side and playing against them will help us assess our game under pressure situations,” Sana said ahead of the T20I series.
“We are excited to play at the picturesque Multan Cricket Stadium, especially as the stadium is hosting its first-ever international women’s T20I series. The support from the fans in Pakistan is always incredible and with free entry to the stadium, it is a great opportunity for people to come and cheer for both sides.”
During their last visit, South Africa played a white-ball series, featuring three T20Is and three ODIs (part of ICC Women’s Championship 2022-25). Pakistan whitewashed South Africa in the three-match T20I series held in Karachi on September 1-4.
To encourage fans to come to the ground, entrance to the stadium will be free, according to the PCB. The spectators will be required to bring their original identity cards to get inside the stadium.
After the series, South Africa will depart for the UAE on September 21, while Pakistan will leave on September 23. Pakistan are in Group A of the ICC Women’s T20 World Cup 2024, along with Australia, India, New Zealand, and Sri Lanka, while South Africa are grouped with Bangladesh, England, Scotland and the West Indies.
Following warm-up matches against Scotland and Bangladesh on September 28 and 30 respectively, Pakistan will face Sri Lanka on October 3 in Sharjah, followed by matches against India on October 6 in Dubai, Australia on October 11 in Dubai and New Zealand on October 14 in Dubai.
18-member Pakistan squad for series:
Fatima Sana (captain), Aliya Riaz, Diana Baig, Gull Feroza, Iram Javed, Muneeba Ali (wicket-keeper), Najiha Alvi (wicket-keeper), Nashra Sundhu, Nida Dar, Omaima Sohail, Rameen Shamim, Sadaf Shamas, Sadia Iqbal, Sidra Amin, Syeda Aroob Shah, Tasmia Rubab, Tuba Hassan and Umm-e-Hani
Saudi Arabia, other friendly states to invest $27 billion in Pakistan in five years — minister
- The development comes amid Islamabad’s efforts to attract foreign investment to drive economic growth, development
- In recent months, Pakistan has reached investment deals mainly with Gulf states in maritime, energy and other sectors
ISLAMABAD: Planning Minister Ahsan Iqbal has said that friendly countries, including Saudi Arabia and the United Arab Emirates (UAE), have pledged to invest $27 billion in Pakistan in the next five years, Pakistani state media reported on Sunday, amid a push for foreign investment in the South Asian country.
The development comes amid Islamabad’s efforts to attract foreign investment to drive economic growth in Pakistan that has been engulfed in an economic crisis due to decades of financial mismanagement.
In recent months, the South Asian country has reached multiple investment deals with a number of countries, mainly the Gulf states, in infrastructure, energy, maritime, ports and other sectors.
Iqbal said his government was making efforts to bring socio-economic reforms to put the country on the path of fast-track economic development, the state-run Radio Pakistan broadcaster reported.
“Saudi Arabia has announced to invest five billion dollars, while the UAE and Kuwait will each invest ten billion dollars and Azerbaijan will invest two billion dollars,” he was quoted as saying.
China has also shown willingness for the second phase of the China-Pakistan Economic Corridor (CPEC), a flagship of Beijing’s Belt and Road Initiative through which it has pledged over $60 billion in investment projects in Pakistan, according to Iqbal.
Beijing has given assurances for the establishment of five new corridors, including that of growth, livelihood, innovation, green economy and open regional inclusive development.
Since avoiding a default last year, Pakistan has been making attempts to boost investment and trade to revive its fragile economy, and reached a staff-level agreement with the International Monetary Fund (IMF) in July for a new $7 billion loan.
The IMF executive board is due to meet on September 25 to discuss the bailout, with Pakistani officials saying that all matters with the lender have been “settled amicably.”
Prime Minister Shehbaz Sharif said this week that friendly countries had played a major role in helping meet requirements placed before Islamabad by the IMF, which included arranging additional external financing and debt rollovers.
Islamabad has for years relied on China, Saudi Arabia and the UAE for assistance to meet such external financing requirements.
Pakistan urges world powers to intervene to end Israel’s war on Gaza
- PM Shehbaz Sharif laments Israel’s military campaigns in Gaza that have killed over 41,000 since last year
- Condemns Israeli military for killing UN aid workers in Gaza, ignoring UN Security Council resolutions
ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif this week held Israel responsible for killing thousands of Palestinians since last year, calling on world powers to intervene and end the Jewish state’s military campaign in Gaza.
Israel launched a war on Gaza on Oct. 7 after Hamas fighters stormed into southern Israel, killing 1,200 and taking more than 250 hostages, according to Israeli figures. Israeli military campaign has since demolished swathes of the besieged enclave, killed more than 41,00 people, displaced nearly all of its 2.3 million people multiple times, and given rise to deadly hunger and disease in the area.
With thousands of civilians killed in Gaza, questions have been raised at the UN Security Council’s ineffectiveness in brokering a ceasefire. United Nations Secretary-General Antonio Guterres this week described the Security Council as an “outdated,” “unfair” and “ineffective system,” saying its failure to end Israel’s war on Gaza has damaged the credibility of the organization.
“We have been condemning Israel’s aggression and barbarity and will condemn it today as well,” Sharif said on Thursday while addressing a meeting of the federal cabinet.
“But the matter has now reached a point beyond condemnations. The international conscience must awaken and fulfill its obligations [to end Israel’s war],” he added.
He criticized Israel for killing UN aid workers in Palestine and also violating resolutions passed by the Security Council on Gaza.
“UN staff members responsible for arranging polio [vaccinations] and food were killed there,” Sharif lamented. “If these incidents had taken place in any other country, it would have caused a storm.”
Pakistan does not recognize nor have diplomatic relations with Israel and calls for an independent Palestinian state based on “internationally agreed parameters” and the pre-1967 borders with Al-Quds Al-Sharif as its capital.
Since the beginning of Israel’s war on Gaza, Pakistan has repeatedly raised the issue at the United Nations, the Organization of Islamic Cooperation and other multilateral platforms. The South Asian country has also dispatched several aid consignments for the Palestinians.
Saleema Imtiaz becomes first Pakistani woman to be nominated to ICC’s umpire panel
- Imtiaz will now be able to officiate in women’s bilateral international matches, ICC Women’s Events
- Pakistani woman umpire is also the mother of Pakistani international woman cricketer Kainat Imtiaz
ISLAMABAD: Pakistani umpire Saleema Imtiaz made history on Sunday after she was nominated to the ICC’s International Panel of Development Umpires, making her the first woman from her country to achieve the honor.
The nomination qualifies Imtiaz, 52, to officiate in women’s bilateral international matches and ICC Women’s Events, marking what the Pakistan Cricket Board (PCB) said was a “major milestone” in the country’s cricketing history.
Imtiaz, who is the mother of Pakistan women’s international player Kainat Imtiaz, began her umpiring career with the PCB Women’s Umpires Panel in 2008. Her extensive experience includes officiating in high-profile events under the Asian Cricket Council such as the 2022 and 2024 ACC Women’s T20 Asia Cup and the 2023 ACC Emerging Women’s Cup in Hong Kong.
“I am beyond thrilled to join the ICC International Panel of Development Umpires,” Imtiaz said according to a press release issued by the PCB. “I owe immense gratitude to the Pakistan Cricket Board for the invaluable opportunities that paved the way for this achievement.”
She described her journey as one filled with “hard work and personal sacrifices,” adding that the achievement was not only a win for her but for every aspiring Pakistani woman cricketer and umpire.
“I hope my success motivates countless women who dream of making their mark in the sport,” Imtiaz said. “This moment reflects the growing influence of women in cricket and the PCB’s commitment to fostering that development.”
Her first on-field appointment in a bilateral series will see her officiate the Pakistan-South Africa women’s T20I series in Multan, which begins on Monday.
She will be partnered by Nasir Hussain from the PCB Elite Panel of Umpires, while Humairah Farah will serve as the third umpire and Muhammad Javed Malik from the PCB International Panel of Match Referees will oversee the series as match referee.
“With her nomination to the ICC International Panel, Saleema Imtiaz not only breaks barriers but also sets an inspiring precedent for the next generation of female cricket professionals,” the PCB said.
