Daily Archives: October 12, 2017

Tax-to-GDP ratio falls in FY17; lowest in region: SBP

KARACHI: State Bank of Pakistan (SBP) on Thursday said that tax to GDP ratio fell to 12.5 percent in fiscal year 2016/2017 despite improvement in revenue collection during recent years.

WHT on banking transactions fails to discourage cash economy: SBP

KARACHI: State Bank of Pakistan (SBP) on Thursday said that the imposition of withholding tax on banking transactions apparently failed to discourage the cash economy.

Major reshuffle in Pakistan Customs Service; FBR notifies transfers, postings of 25 officers of BS-19-20

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday notified major reshuffle of Pakistan Customs Service (PCS) officers in BS-19 and BS-20 and issued orders of transfers and postings of 25 officers with immediate effect and under further orders.

SBP projects swelling twin deficits in 2017/2018; forecast 6pc GDP growth, lower inflation

KARACHI: State Bank of Pakistan (SBP) has projected that the government will not able to curtail twin deficits: fiscal deficit and current account deficit to the targets of 4.1 percent and 2.6 percent, respectively of the GDP.

Trade deficit widens by 29.75pc in July – September

ISLAMABAD: Pakistan’s trade deficit has widened by 29.75 percent to $9.08 billion in first quarter of current fiscal year owing to phenomenal increase in imports.