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Tax collection gap stands at whopping Rs5.8tr in Pakistan

ISLAMABAD: Pakistan faces a whopping tax-evasion (tax compliance gap) of around Rs5.8 trillion annually, making 6.9 percent of GDP. The evasion on account of POL products is estimated to be Rs996 billion caused by smuggling and other means. According to a presentation given to Prime Minister Shehbaz Sharif and Special Investment Facilitation Council (SIFC), the

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Foreign loans remain low at $9.5b

ISLAMABAD: Pakistan received foreign loans of less than $9.5 billion during the first eight months of the current fiscal year and also faced problems in securing fresh loans from its two largest multilateral lenders. Overall disbursements from foreign creditors slowed down during the July-February period of the current fiscal year despite Pakistan having the umbrella

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$300m Panda bonds planned

ISLAMABAD: Federal Finance Minister Muhammad Aurangzeb announced on Friday that Pakistan will introduce Panda bonds worth $300 million into the Chinese market this year. According to details, the finance minister stated that Pakistan will enter the Chinese markets for bond sales for the first time. Initially, bonds worth between $250 to $300 million will be

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