ECC rejects hike in sales tax on sugar

ISLAMABAD: The Economic Coordination Committee (ECC) rejected on Tuesday proposals to increase by 25 per cent transportation charges for 400,000 tons of urea imported through Gwadar port and to double sales tax on sugar. The meeting, presided over by Finance Minister Dr Abdul Hafeez Shaikh, strongly criticised the ministry of industries for using a few selected companies to transport urea from... 

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Budget 2010-11:a difficult budget in difficult times

ISLAMABAD: The government on Saturday announced a consolidated budget outlay of Rs 3.259 trillion for next fiscal year, with 4 percent budget deficit, and what the Federal Finance Minister was careful to refer to as deferring the reforms of GST, understood by the galleries as reluctant to use the three-letter word ‘VAT’, till October 1, 2010 instead of July 1, 2010, but increased... 

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Pakistan’s working class a reason to exhale

Dubai: Salaried people experienced major relief after the Dh140 billion ($38.3 billion) Pakistan budget announced on Saturday for the 2010-2011 fiscal year starting July 1. Pakistani Finance Minister Abdul Hafeez Shaikh said the budget provides tax relief to salaried people, in addition to a 50 per cent increase in basic pay for all government employees. The allowance will benefit nearly two million... 

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