General

Federal Cabinet Meeting Convened Today

The federal cabinet meeting has been convened today, to review the internal, external security situation and country’s economic condition along with development in the government’s 100-day plan.
According to sources, the meeting will also contemplate over the reshuffling prices of the petroleum products and gas.
Earlier, the PTI-led government ensured that it will make a significant amendment to the Finance Bill 2018-19.
The amendment will also include changes to the tax amenity scheme introduced by the previous government, according to sources privy to the matter.
The Pakistan Muslim League-Nawaz (PML-N) government had introduced a tax exemption for annual income up to Rs1.2 million. The new government will reduce the slab from Rs1.2 million to Rs0.8 million, sources said.
Furthermore, recommendations will be made to increase tax revenue.
The government will also propose the imposition of a one per cent regulatory duty on all important items.
A National Assembly session will be held on September 14 in this regard, sources added.