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Caretaker govt keeps petrol, IN HISTORIC FIRST, FBR SURPASSES diesel prices unchanged RS1TR IN GROSS REVENUE FOR DEC 2023 monday, 1 January, 2024 i 18 Jamada al-Sani, 1445
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Board exceeds targets set for month, first six months of FY 2023-24
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ISLAMABAD
Ghulam abbaS
HE Federal Board of Revenue (FBR) has etched its name in history by collecting a remarkable Rs1.021 trillion in December 2023. After adjusting refunds of Rs38 billion issued during the month, the net collection stood at an impressive Rs984 billion. This monumental achievement marks the first time in history that the FBR has surpassed the Rs1 trillion mark in a single month.
As per the details, exceeding the targets set for the month as well as for the first six months of the current financial year, the FBR outperformed expectations. The target set for the initial six months was Rs4.425 trillion, in line with agreements made with the IMF. Remarkably, the actual collection amounted to Rs4.468 trillion, surpassing the target by Rs43 billion. Comparing this to the corresponding period of the previous year, which saw a collection of Rs3.428 trillion, reflects an increase of more than 1 trillion.
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Proportion of direct taxes surged to 49pc in six months, 59pc in Dec
Despite challenges such as import compression leading to a contraction in imports, the FBR has managed to navigate this obstacle by focusing on boosting domestic revenues. Formerly balanced at a 50:50 ratio between import stage and domestic taxes, the current mix stands at 36:64, demonstrating the FBR’s adaptability in absorbing the impact of import compression by generating increased revenues domestically. Moreover, the ratio of direct and indirect taxes has undergone a transformation, with direct taxes claiming a larger share. The proportion of direct taxes surged to 49% in the initial six months, with December witnessing a remarkable 59%. Notably, within direct taxes, the FBR has steadily reduced the share of withholding taxes over the past two years, now standing at 55-58%, with December 2023 reflecting a decrease to as low as 40%. Chairman FBR extends his congratulations to Member (Customs Operations), Member (IROperations), and their teams for this remarkable achievement. He acknowledges the vital role played by
‘Technical fault’ at Guddu plunges Sindh, Punjab, and Balochistan into darkness g
Caretaker minister avoids any comment or talk on widespread outage ISLAMABAD
ahmad ahmadani
A massive power supply suspension affected major parts of Sindh, Punjab, and Balochistan early Sunday, stemming from a technical fault and explosion in the switch yard of Guddu Thermal Power High Transmission. The incident, exacerbated by dense fog, led to a fire that caused tripping of 500 kV and 220 kV Transmission Lines in the vicinity of Guddu. In the meanwhile one of the pole of 500 kV Circuit Breaker was damaged resulting in a widespread suspension of electricity supply to significant areas in the affected provinces, said sources. Early on Sunday, significant regions in three provinces of the country—Sindh, Punjab, and Balochistan—encountered a substantial disruption in power supply, they added. Sources said that the fire was swiftly brought under control, and repair work commenced at the grid station. However, till the filing of this news item, caretaker federal energy minister and officials from the power division have not officially confirmed that the power breakdown was indeed due to a technical fault at the Guddu Thermal Power High Transmission. Despite repeated inquiries, the federal energy minister has refrained from providing details or reasons behind the major power breakdown, raising concerns and leaving the public in the dark about the circumstances surrounding the incident. Shockingly, the minister did not address questions related to the event and instead directed an official from the power division to respond. In an official statement, the power division official
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dismissed the incident as a “hoax” and insisted that the system is normal. This assertion, however, is in stark contrast to the ground reality, as residents in the affected provinces continued to grapple with a severe power outage during chilling weather and foggy conditions. Later, the power division official said, due to dense fog, NTDC faced tripping of 500 kV and 220 kV Transmission Lines in the vicinity of Guddu. During the said period one of the pole of 500 kV Circuit Breaker was damaged. Thus, faulty part was isolated from the healthy system immediately and switch yard was energized. The damaged part is being replaced with a healthy one, work is being completed out on war footing basis, said the power division. Moreover, investigation is also underway to check the root cause behind damage of pole of circuit breaker of Guddu switch yard, power division added. The lackadaisical response from the power division officials has drawn criticism, with many expressing disappointment at the nonchalant attitude towards a matter of public interest. The absence of timely and transparent communication has added to the frustration of citizens whose routine lives were disrupted due to the power breakdown. It is worth noting that the incident occurred at a critical juncture, considering the ongoing winter season and the prevalence of fog in the affected regions. The power division’s failure to promptly inform and update the public on the situation has further fueled concerns about the government’s commitment to addressing and managing critical infrastructure failures.
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taxpayers whose steadfast support and accurate declarations were pivotal in accomplishing this milestone.
ISLAMABAD
Staff RepoRt
The interim government of Prime Minister Anwaarul Haq Kakar has decided to maintain the prices of motor spirit (Petrol) and highspeed diesel (HSD) at the current level during the first half of January 2024. The Finance Division, in
an announcement, said that the Government of Pakistan has decided to maintain the current prices of Petrol and High-Speed Diesel during the fortnight starting from 1st January, 2024, as recommended by Oil and Gas Regulatory Authority (OGRA).
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