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GDP growth rate in 2020-21

The PBS has released the revised estimate of the GDP growth rate for 2020-21. It has increased to 5.57 percent from the preliminary estimate of 3.94 percent. Clearly, the process…

MPS 2020

The first monetary policy statement (MPS) for the year 2020 announced by Governor State Bank of Pakistan maintained the discount rate at 13.25 percent (since July 2019) dashing hopes of…

Budgets 2020 amid Covid-19 crisis—I

“If we were to construe Entry 52 of the Legislative List keeping in view the above meanings of the expression “in lieu of”, it becomes evident that the Legislature has…

Budgets 2020 amid Covid-19 crisis — III

The failure to tap the actual tax potential by the federal and provincial governments is the real issue and not the Constitution (Eighteenth Amendment) Act, 2010 [hereinafter “18th Amendment”] vis-à-vis…

Budgets 2020 amid Covid-19 crisis — II

In the present circumstances, in the forthcoming federal budget, the need for a fair and simple tax system, as elaborate in Towards Flat, Low-rate, Broad and Predictable Taxes [PRIME Institute,…

Pre-budget 2020-21 random thoughts — I

Pakistani budgets require little executive input, so argue Ministry of Finance officials, as there is little flexibility in terms of changing allocation priorities while revenue generation remains hostage to the…

Pre-budget 2020-21 random thoughts — II

This is the second of a two part series of articles highlighting some random thoughts on the Covid-19 relief package and its implications on the budget 2020-21. GDP growth is…

Budget Speech 2020-21

Mr. Speaker, 1. I start my submissions with the name of Allah Almighty, the most gracious, the most merciful. It is a matter of great honour and pleasure for me…

Setting FBR target for FY2020-21

Projecting budgetary targets, in general, and tax revenue, in particular, with a fair degree of accuracy is an essential element of sound fiscal management and, therefore, of maintaining fiscal discipline…