Important Business News
16th April, 2018
|1.||WB projects 5.8pc growth … detailed
World Bank (WB) has projected GDP growth for Pakistan to reach 5.8 percent in fiscal year 2018, but warned that macroeconomic imbalances are widening as macroeconomic and political risks have increased.
The preliminary projection for the Pakistan’s current account deficit in FY2019 is 4.5% of gross domestic product (GDP), with somewhat slower growth but mainly due to continued implementation of China Pakistan Economic Corridor (CPEC) projects.
|3.||Amnesty Scheme 2013
FTO issues notice to secretary revenue, FBR chief
Federal Tax Ombudsman (FTO) has issued notice to secretary Revenue Division and chairman Federal Board of Revenue (FBR) in a complaint filed for recovery of untaxed/black money introduced under Amnesty Scheme earlier notified by the present government vide SRO # 1065(I)/2013.The Amnesty Scheme under SRO No. 1065(I)/2013 has now been declared illegal by the Lahore High Court in the year 2018.https://epaper.brecorder.com/2018/04/16/18-page/711032-news.html
|4.||Reforms remain ignored
The Asian Development Outlook (ADO), an annual publication of the Asian Development Bank, that analyzes and forecasts the state of the economy of member states, uploaded on its website on 11 April 2018 reiterated the emergent need for structural reforms in Pakistan, a position that was taken by the International Monetary Fund (IMF) in its March 2018 first post-programme monitoring report and the World Bank in its November 2017 Pakistan Development Update.https://epaper.brecorder.com/2018/04/16/16-page/711014-news.html
|5.||Currency exchange rates