Tag: Gst

KARACHI - Minister for Commerce and Industries Rauf Siddiqui, while delivering a speech at SITE Ltd, has said that the reformed GST is not a viable option and condemned any policy against the people of Pakistan. He grieved that imposition of reformed GST will drag the economy in doldrums and said that he would ensure greater facilities to the employees of SITE Ltd.
Rauf, in this regard, issued orders to MD, DMD, and Chief Engineer of SITE to implement effective measures in order

ISLAMABAD: The government has decided to formally take on board all political parties on the controversial reformed general sales tax (GST) before the start of the National Assembly session on December 20, and the Finance Ministry has been directed to prepare a detailed briefing to heads of all political parties on the proposed tax.
A source said Prime Minister Yousaf Raza Gilani had taken notice of the statements of some opposition leaders after Finance Minister Dr Abdul Hafeez

ISLAMABAD: President Asif Ali Zardari on Monday reiterated the PPP-led government's resolve to continue pursuing the socio-economic reforms-agenda to deliver on the promises made to the people and to give an economically stable, prosperous and peaceful Pakistan to the coming generations.
Addressing a meeting with PPP MPAs from Khyber Pakhtunkhwa (KP) at the presidency, Zardari said despite challenges and hurdles, the government had waded through difficulties successfully and

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) on Sunday announced to launch civil disobedience movement in the country, if the government imposed General Sales Tax (GST). Addressing a protest demonstration at Aabpara Chowk against GST, price hike and unemployment, Imran said that his party would resist against the imposition of GST.
He said that the Pakistan People's Party and Pakistan Muslim League-Nawaz were the two sides of the same coin and had same agenda 'to plunder national

SHEIKHUPURA: Pakistan Muslim League-Nawaz (PML-N) chief Nawaz Sharif on Saturday said his party would not accept the reformed general sales tax (RGST) at any cost.
"The tax will increase inflation and aggravate the suffering of the consumers," he said while addressing party workers on Saturday. He was in town to condole with PML-N leader Arif Khan Sandhila over the death of his mother.
The PML-N leader said his party would oppose the imposition of unnecessary taxes and

ISLAMABAD: The National Assembly's Standing Committee on Agriculture rejected the proposed reformed general sales tax (GST) on agriculture sector on Saturday.
A meeting chaired by Javed Iqbal Warraich was convened to discuss the impact of GST on agricultural commodities, with the members opining that the tax would destroy the agriculture sector. However, officials of the Federal Board of Revenue (FBR) said the tax would prove beneficial in the long run.
Briefing the

PESHAWAR: The provincial legislature of the Khyber Pakhtunkhwa on Friday said the provincial government had presented its reservations on the levy of reformed general sales tax (GST) and demanded a two-year exemption for the province.
This was stated by Information Minister Mian Iftikhar Hussain in the Khyber Pakhtunkhwa Assembly in response to the demands by PML-N legislators for tabling a joint resolution against the GST Bill.
Three legislators of PML-N, Javed Abbasi,

ISLAMABAD: The government has decided not to table the Reformed General Sales Tax (GST) Bill in the forthcoming session of the National Assembly as it failed to build consensus on the proposed tax law with its coalition partners - the Muttahida Qaumi Movement (MQM) and the Jamiat Ulema-e-Islam-Fazl (JUI-F) -not budging from their positions.
"We will not table the bill in the National Assembly session staring from December 18," a senior parliamentarian, asking not to be named,

ISLAMABAD: Prime Minister Yousaf Raza Gilani on Friday called on President Asif Ali Zardari at the Presidency.
Both leaders discussed the overall political situation in the country and exchanged notes on the party's progress on winning the support of political parties on the reformed general sales tax.
The prime minister also briefed the president about his visit to Turkey.
The president congratulated Gilani on his successful and productive visit to Turkey and his

ISLAMABAD: The two days of negotiations to finalise the proposed law on the reformed general sales tax on services between the Finance Ministry and provincial governments remained inconclusive on Wednesday.
Sources said the talks remained unproductive and no progress was made on disputed services, however, some procedural changes were agreed to in the federal legislation. It was agreed that another meeting would be held before the National Assembly session to settle the lingering

KARACHI: Pakistani stocks ended almost flat on Tuesday in dull trade as investors were cautious, awaiting clarification on the implementation of a reformed general sales tax under an IMF loan programme, dealers said. The Karachi Stock Exchange's benchmark 100-share index ended 0.08 percent, or 9.06 points, lower at 11,431.01. Turnover fell to 118.3 million shares, compared to 170.5 million shares traded on Monday.
"Investors are cautious as they are waiting to see the outcome of

ISLAMABAD: The Pakistan Muslim League-Nawaz (PML-N) on Monday decided to lobby with political parties, including the PML-Q, MQM and PPP-Sherpao, to foil the passage of the reformed general sales tax bill by the National Assembly.
The central organising committee of the PML-N which met with Nawaz Sharif in the chair also decided to complete intra-party elections from local to central level before January 15, 2011.
Addressing the central organising committee members, Nawaz

LAHORE: Traffic remained jammed on The Mall and other adjacent roads due to a protest by industrialists in front of Governor's House causing massive commuter inconvenience.
The industrialists were demanding the smooth supply of gas and protesting against GST. Cars, motorbikes and public transport stuck in the traffic and people have to wait hours for reaching their destination. Roads adjacent to The Mall including Davis Road, Jail Road and adjoining roads were cluttered with

LAHORE: The Chairman of Pakistan Sugar Mills Association (PSMA) Javed Kayani has cautioned the government that levy of reformed GST on sugar would hike ex-mill price by at least Rs 10 per kg.
This would add to the miseries of consumers who are already groaning under inflationary pressures. PSMA has requested the Federal Finance Minister to obviate sugar from the reformed GST imposition in order to allow price stay at a reasonable level. He gave examples of countries where all

ISLAMABAD: The independent group of legislators from the Federally Administered Tribal Areas (FATA) is likely to support the controversial Reformed General Sales Tax Bill 2010 as talks between the two parties on Thursday succeeded.
President Asif Ali Zardari and Prime Minister Yousaf Raza Gilani separately met the legislators from FATA. Source told Pakistan Today that the prime minister announced Rs 1 billion to used to set up a gas supply system to FATA, 2000 lugies (turbans)

KARACHI: The federal government has summoned the financial experts from the four provinces to finalise the Reformed General Sales Tax (GST) bill, Pakistan Today learnt on Sunday.
According to sources in the Sindh government's Finance Department, the main objective of the two-day meeting, from November 29 to 30, is to discuss in detail the reformed GST bill, which would be presented in the provincial assemblies after its passage from the National Assembly. The sources said the

LAHORE: It is inexplicable that out of 515 polypropylene bags manufacturing companies registered with the Federal Board of Revenue, less than 80 pay sales taxes.
Data available with Pakistan Today revealed that the FBR collected Rs 74.28 million of sales tax in the year 2009-10, which was Rs 14.95 million greater than the collection of Rs 59.33 million in 2008-09.
However, augmentation of tax revenue was a result of larger collections from companies which are already tax