Latest news with #Rs111
Express Tribune
12-05-2025
- Business
- Express Tribune
K-P government saves over Rs111 billion
The Khyber-Pakhtunkhwa (K-P) government has successfully saved over Rs111 billion by maintaining fiscal discipline during the first three quarters of the ongoing fiscal year 202425. Figures released by the federal government reveal that K-P received Rs1,031.26 billion in total financial resources over the nine-month period. Of this amount, Rs824.86 billion came from the federal government under the National Finance Commission (NFC) Award. In addition, the province generated Rs46.20 billion through its own tax revenues and Rs40.17 billion from non-tax sources. The federal government also provided Rs120 billion in loans and grants, including Rs38.58 billion in loans, Rs54.99 billion in current grants, and Rs26.43 billion in development grants. During this period, the K-P government spent a total of Rs919.95 billion. Of this, Rs759.56 billion was allocated to current expenditures, while Rs13.75 billion was paid to the federal government for debt servicing (markup payments). Furthermore, the federal government spent Rs147 billion on development projects in K-P under the Public Sector Development Program (PSDP). Meanwhile, Chief Minister Ali Amin Gandapur has taken serious notice of alleged irregularities in the recent screening test for school teacher recruitment conducted by the Educational Testing and Evaluation Agency (ETEA). He has directed the Chief Secretary to initiate a high-level inquiry into the matter. A formal letter from the Chief Minister's Secretariat expressed deep concern over reports of misconduct and a potential paper leak during the test held in Bannu on May 10. Initial findings revealed that several individuals were apprehended at a private guesthouse while the exam was still in progress. They were allegedly found in possession of test papers, bubble sheets, laptops, and scanning machinesraising serious questions about the integrity of the examination process. The Chief Minister termed the reported irregularities a grave violation of merit and transparency. He instructed that a senior officeror a committee of officersbe appointed to conduct a thorough investigation, identify those responsible, and recommend strict disciplinary action. "ETEA is currently overseeing teacher recruitment examinations across the province. Any malpractice not only jeopardizes the future of candidates but also erodes public trust in the system," the letter stated. The Chief Minister further directed that the inquiry should not only address the immediate incident but also assess systemic vulnerabilities within ETEA's operations. Legal and administrative action has been urged against any individuals or institutions found guilty of misconduct or negligence. Additionally, the Secretary for Elementary and Secondary Education has been instructed to review examination arrangements across all districts, ensure robust monitoring, and improve coordination between local administrations and ETEA staff. A comprehensive report on the incident has been demanded within 15 days.
Express Tribune
20-10-2024
- Business
- Express Tribune
Lopsided taxation
Pakistan's tax system perpetuates an inequitable burden on salaried individuals, posing significant challenges to their financial well-being. Recent data revealing the staggering income tax contributions from the salaried class during the first quarter of the current fiscal year paints a troubling picture of unfair taxation policies. Salaried individuals have shouldered a disproportionate tax burden, contributing a substantial Rs111 billion in income tax. This amount is over 15 times as much as what has been paid by traders, highlighting a stark contrast in tax treatment. The imposition of higher tax rates on salaried individuals, coupled with a lack of relief measures, has placed an undue strain on their already declining net incomes. Private sector employees, in particular, who often do not receive guaranteed annual increases in their salaries and were already dealing with record inflation, have been significantly impacted. The government's decision to increase the effective income tax rate for salaried persons, associations of persons and non-salaried individuals to nearly 39%, 44% and 50% respectively is deeply concerning. And while increasing taxes on highest earners is generally in line with progressive tax practices, it does become unfair when traders making significantly more money pay not only a lower effective tax rate, but oftentimes, no taxes at all, and are still able to benefit from government amnesties and other forgiveness programmes every few years. Meanwhile, high-salary individuals must pay the new 'supertax' to help fill the gap created by billionaire tax evaders, some of whom actually 'help' craft tax policies. The government's reliance on salaried individuals for a significant portion of tax revenue while sparing others is not just unjust and unsustainable, it actively reduces economic activity, stunting growth. Any new tax burden deemed necessary should solely be placed on traders and real estate, which is another sector that inexplicably gets favourable treatment despite creating almost no economic growth.
