Senate body approves Reformed General Sales Tax
The Senate Standing Committee on Finance and Economic Affairs approved the Reformed General Sales Tax (RGST). Earlier, addressing the Senate, Federal Minister for Finance and Economic Affairs, Abdul Hafiz Shiakh said the government wanted to restructure tax system and end privileges.
Revised fiscal year 2011 revenue target would surge to Rs 1.65 trillion: FBR chief speaks about post-RGST scenario
Federal Board of Revenue Chairman Sohail Ahmed on Monday said the revenue collection target would be revised upward to Rs 1,655 billion for 2010-11 from slashed target of Rs 1,595 billion in case Parliament approves the Reformed General Sales Tax, 10 percent flood surcharge and 1 to 2 percent increase in rate of special excise duty (SED) on luxury items bills.
Food import bill swells to $1.65bn
The import and export of food items registered a sharp increase during the first four months (July-October) of this fiscal year amid crop losses caused by the floods. The imports under the food group swelled to $1.653 billion during July-October 2010 from $1.043 billion while exports of food items rose to $952 million from $856 million in the corresponding period of 2009. more... (D)
October exports hit record $1.98bn
The country achieved record monthly export of $1.989 billion in October 2010, which is 26.1 per cent higher over the corresponding month last year, official figures showed on Tuesday. more... (D)