Month: July 2022

REHMAN HABIB CONSULTANTS (RHC) and Partners (TTT, IConsult, AAS), IBF (Belgium), Asian Development Bank (ADB) and Punjab Govt. Join Hands to Improve Local Govt. Service Delivery and Capacity Building A one-day consultative workshop was organized with relevant stakeholders to share findings of Training Need Assessment (TNA) of local Govt. officials besides devising strategies to strengthen design of Punjab Local Govt. Academy to transform it into a leading training institution for effective service delivery at grassroots level. Workshop was organized under the aegis of Punjab Intermediate Cities Improvement Investment Program (PICIIP)…

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The Federal Government presented Finance Bill 2022 in the National Assembly on June 10, 2022. After the debate in the Senate and National Assembly, the Government has passed Finance Act, 2022 which contains those proposals of Finance Bill which were eventually approved with certain modifications and certain new amendments made in the Bill during the above process. The amendments made in the fiscal laws by the Finance Act, 2022 are made effective from July 1, 2022. COMMENTS ON FY2022-23 BUDGET Significant modifications to the Finance Bill 2022 are summarised as…

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With the continuous rise in the prices of petroleum products, the country has witnessed a decline in the consumption of fuel during the last month, Geo News reported. In a bid to strike a deal with the International Monetary Fund (IMF), the incumbent government has removed fuel subsidies and jacked up the fuel prices for a third time in 36 days. The coalition government had first raised the petrol price by Rs30 on May 26, followed by another increase of Rs30 on June 2. On June 15, it hiked the…

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The ‘International Monetary Fund-dictated’ budget 2022-23 has come into force after the parliament passed it without much ado and the president has signed the finance bill into law. The Rs9.579 trillion annual federal budget carried an unprecedented fiscal adjustment of more than Rs1.75tr or 2.2 per cent of GDP in a single year. It contained new taxation measures of almost Rs1.1tr or almost 1.4pc of GDP. The single largest item on the non-tax revenue side stands out to be the Rs855bn — up from Rs750bn in the June 10 budget…

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High fuel prices, liquidity crunch and lesser energy supply in global chain have been hampering power generation badly, which translates into electricity loadshedding of 6-14 hours daily in various parts of the country. According to information shared by the Prime Minister’s Office, loadshedding today is almost entirely caused by acts of omissions and commission of the previous government during 2018-22. Coupled with high and rising energy prices in the international market, Pakistan’s power sector is greatly suffering. Consequently, power shortfall has been hovering over 7,000 MWs in the country. People…

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