Tag Archives: Revenue

Revenue collection targets – Incentives for achievers, punishment for the negligent and corrupt

KARACHI – Officers of the Revenue Department who achieve the government-fixed targets would be rewarded and given incentives and those found negligent and involved in corruption would be punished, Sindh Chief Minister Qaim Ali Shah said on Monday. The chief minister was presiding over a high-level meeting at Chief Minister’s House to review the progress on revenue collection and various taxes in the province. Directing the revenue and tax collection departments to pay full attention

‘American Idol’ king of TV advertising revenue

LOS ANGELES – “American Idol” is the darling of TV advertisers, dwarfing other TV shows by raking in an estimated $7.11 million every half hour last year for the Fox network, according to a Forbes.com survey. The singing contest topped Forbes.com’s list of TV’s biggest moneymakers in 2010, despite sliding ratings last year and generally lackluster talent. Far behind “Idol” was America’s most-watched TV comedy “Two and A Half Men”, with an estimated $2.89 million in advertising revenue

Govt eyes Rs 210bn through cuts, revenue measures

ISLAMABAD – Finance Minister Dr Abdul Hafeez Shaikh on Wednesday said that the government would get Rs 210 billion through its announced expenditure cuts and revenue measures during the remaining quarter of the current financial year.
Briefing the media about the government plans for fiscal consolidation, he said that the rationalisation of expenditure had the full backing of the president, prime minister, armed forces and government departments. “The surcharge on income tax is

IMF fears FBR won’t collect targeted revenue

ISLAMABAD – The International Monetary Fund (IMF) has expressed reservations over the government’s claims that the Federal Board of Revenue (FBR) would manage collecting the targeted Rs 1,604 billion during the current fiscal year. An official source privy to technical level talks said the IMF team formed the opinion after the revenue collection data for the last eight months was presented to it. The IMF team was of the opinion that the target was not achievable without the imposition

Silkbank’s revenue jumps to Rs 1.524b

KARACHI – Silkbank Board, in its meeting on March 02, 2010, approved the annual accounts for the year 2010. Silkbank made a remarkable turnaround by more than doubling its revenue numbers. Total revenue in 2010 increased from Rs 719 million to Rs 1.524 billion, a growth of 112 percent. This achievement was attributed to the launch of new products, increase in business volumes and growth in non-fund based income. Cost of funds recorded a reduction and the overall yield on earning

FBR proposes plan to generate Rs 25b revenue

ISLAMABAD – The Federal Board of Revenue (FBR) Chairman Salman Siddique on Wednesday said the FBR had proposed a revenue generation plan of Rs 25 billion that included 15 percent flood surcharge on withholding and advance taxes and increasing 1.5 percent Special Excise Duty.
At a presentation to the Senate’s Standing Committee on Finance and Revenue on revenue shortfall for the fiscal year 2010-11, Siddique said the proposed revenue measures would be brought through legislation