The Chief of Army Staff, General Qamar Javed Bajwa, has requested assistance from Washington in achieving an early transfer of funds from the International Monetary Fund in order to help stabilize Pakistan's shrinking economy. Deputy Secretary of State Wendy Sherman, according to security sources, spoke with the army chief earlier this week. It is stated that the army chief made a plea to the White House and Treasury Department to get the IMF to immediately supply the almost $1.2 billion that the country is slated to receive under a reopened loan program. "Staff-level approval" for the loan was granted by the International Monetary Fund (IMF) on July 13. IMF Executive Board clearance is required before the transaction can be completed as part of Pakistan's $6 billion Extended Fund Facility. The International Monetary Fund (IMF) will be on vacation for the next three weeks, and its board will not meet until late August at the earliest. According to an IMF official wh
Traders Protest against K-Electric (KE) for charging additional RS6,000 Sales tax.
The Federal government has imposed a new sales tax of PKR 6,000 per month on commercial power meters throughout the country as of July 1, 2012. So far only K-Electric has enforced the Finance Bill 2022 decision, sparking anger among the traders in the country's economic and commercial center.
Consequently, trade Shopkeepers & all markets have been up in arms against K-Electric for issuing additional sales tax invoices after adding sales tax for the past two days.
Atiq Mir, the chairman of the All Karachi Tajir Ittehad , stated that owners of shopkeepers will begin a sit-in in front of the K-Electric headquarters until Rs6,000 was removed from the bill. It is utterly unjustifiable to apply the decision just on Karachi's merchants.
Kashif Chaudhry, president of MarkazeAnjuman Tajiran Pakistan, stated, "We strongly protest the implementation of a Rs6,000 sales tax on electricity bills and ask the government to reverse its decision."
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