Most indicators reflect substandard show

[ziaulislam]

I don't have bias. If the News was read "Economic indicators reflect a great show"... I would have tried even then to post that with pride. in your post i was quoted that's why i responded.

today in tribune....

They said the PC would tell the premier about the real economic performance, particularly on FBR’s original tax target of Rs2.475 trillion. The FBR is going to miss the target and has so far achieved 16% growth in revenues against the required 28% growth.

In its working paper for NEC, PC questioned the reality of 16% growth. “After adjusting for nominal GDP growth of 11.5% and tax measures including increasing GST from 16% to 17%, withdrawal of some tax exemptions, enhancing excise duty rates, the figures reflect a marginally positive real growth in tax revenues”, it added.

The working paper also highlights soaring current expenditures and risks to economic growth in the next fiscal year.......

Govt is now itself accepting that no real increase in taxation actually occurred. In short performance in taxation has been disastrous .

 

[Hyde]

today in tribune....

They said the PC would tell the premier about the real economic performance, particularly on FBR’s original tax target of Rs2.475 trillion. The FBR is going to miss the target and has so far achieved 16% growth in revenues against the required 28% growth.

In its working paper for NEC, PC questioned the reality of 16% growth. “After adjusting for nominal GDP growth of 11.5% and tax measures including increasing GST from 16% to 17%, withdrawal of some tax exemptions, enhancing excise duty rates, the figures reflect a marginally positive real growth in tax revenues”, it added.

The working paper also highlights soaring current expenditures and risks to economic growth in the next fiscal year.......

Govt is now itself accepting that no real increase in taxation actually occurred. In short performance in taxation has been disastrous .

That's exactly I highlighted couple of weeks ago in one of the thread...

The net growth rate in Tax revenue for this year, when you take all the factors out is average. It's still in Green but not much to really talk about.

 

[MM_Haider]

today in tribune....

They said the PC would tell the premier about the real economic performance, particularly on FBR’s original tax target of Rs2.475 trillion. The FBR is going to miss the target and has so far achieved 16% growth in revenues against the required 28% growth.

In its working paper for NEC, PC questioned the reality of 16% growth. “After adjusting for nominal GDP growth of 11.5% and tax measures including increasing GST from 16% to 17%, withdrawal of some tax exemptions, enhancing excise duty rates, the figures reflect a marginally positive real growth in tax revenues”, it added.

The working paper also highlights soaring current expenditures and risks to economic growth in the next fiscal year.......

Govt is now itself accepting that no real increase in taxation actually occurred. In short performance in taxation has been disastrous .

yeah but pomp and show is at best that economy is thriving!!

 

[ziaulislam]

That's exactly I highlighted couple of weeks ago in one of the thread...

The net growth rate in Tax revenue for this year, when you take all the factors out is average. It's still in Green but not much to really talk about.

Actually there is zero growth in direct taxation and average growth in indirect taxes. In other words the rich are rolling while the poor are squeezed even further...I will say this that surprisingly Pppp govt showed more growth in DIRECT taxation than current govt ..

 

[halka_kutta]

today in tribune....

They said the PC would tell the premier about the real economic performance, particularly on FBR’s original tax target of Rs2.475 trillion. The FBR is going to miss the target and has so far achieved 16% growth in revenues against the required 28% growth.

In its working paper for NEC, PC questioned the reality of 16% growth. “After adjusting for nominal GDP growth of 11.5% and tax measures including increasing GST from 16% to 17%, withdrawal of some tax exemptions, enhancing excise duty rates, the figures reflect a marginally positive real growth in tax revenues”, it added.

The working paper also highlights soaring current expenditures and risks to economic growth in the next fiscal year.......

Govt is now itself accepting that no real increase in taxation actually occurred. In short performance in taxation has been disastrous .

Govt have completly failed in tax reforms. This year target of 2800bn can only be archived if tax exemptions to rich so called SRO are removed.