Dar seeks approval for PKR 310Bn ‘supplementary’ budget
Despite the government’s claims of having kept a tight control on current expenditures, Finance Minister Ishaq Dar will be seeking ex post facto approval of parliament for PKR 310.5Bn in supplementary grants for expenditure overruns and re-appropriations, sometimes for extravagant expenses.
Overseas Pakistanis Govt. to launch $1bn bonds, says Dar
Finance Minister Ishaq Dar has said that govt. will launch bonds worth $ 1Bn for overseas Pakistanis for investment in different development sectors. The Minister said that Pakistani expatriates will be involved in the launch of two bonds, worth $ 500Mn each, for undertaking mega development projects in the country.
Withholding tax on prize bonds increased to 25% for non-filers
The rate of withholding tax for non-filers against the winning amount on prize bonds has been increased to 25% from the existing 20%. WHT rate for filers is unchanged at 15%. Govt. has further enhanced the WHT rate to 17.5% from the existing 15% for non-filers on the sale of petroleum products by dealers.
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