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Was not supposed to announce petrol price hike on TV, Miftah Ismail says

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Minister for Finance Miftah Ismail on Friday said that he was “not supposed to” appear on national television the night before to announce a hike in the prices of petroleum products but he did so after being asked by Prime Minister Shehbaz Sharif.

His clarification on Twitter came after a clip of his appearance on a television show was shared. In it, he can be seen saying he will not be appearing on television again that night.

Speaking on Dawn News show “News Wise”, the finance minister said: “It is said whenever Miftah Ismail comes on TV, petrol prices go up. But I will not be appearing on television after this (show).”

In the show, which airs at 7pm, Ismail said that the “government will decide” whether prices will be raised July 1 onwards and that as of that point in time he has not been informed of any such decision. “And neither do I have this in my mind that I have to go announce it on TV.”

He also spoke of the petroleum development levy which the International Monetary Fund has advised be brought up to Rs50 per litre. The finance minister said that there are plans to impose the levy “gradually” and that “there is no deadline”.

About four hours later, Ismail and Minister of State for Petroleum Musadik Malik briefed the media on a raise in petrol prices, to be effective starting midnight.

Explaining in his tweet what had occurred, the finance minister said: “I was not supposed to go on TV last evening to announce this. Another colleague was supposed to do this. But PM sahib decided that Musadik Malik and I should do that.”

With the fresh hike, the price of petrol will be Rs248.74/litre, diesel will be Rs276.54/litre, kerosene oil will be sold for Rs230.26/litre, and the price of light diesel oil will be Rs226.15/litre.

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In four months, FBR found Rs 800 billion in fraudulent tax refunds.

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Over the last four months, the Federal Board of Revenue (FBR) has discovered a Rs800 billion tax refund scam.

The Inland Revenue and Customs reforms were considered at a review meeting that Prime Minister Shehbaz Sharif convened. During this time, the board allegedly discovered the Rs800 billion tax refund fraud.

According to the conference, there are 83,579 outstanding tax cases totaling Rs3.2 trillion, of which about 63 cases, or Rs44 billion, have been settled as a consequence of various government measures.

In an effort to speed up the resolution of tax issues, the prime minister also ordered the creation of 100 tribunals.

The gathering also featured the identification of around five million new taxpayers, of whom fifteen thousand retailers have enrolled since April 1, 2024.

View more:More than 46,000 traders have signed up for the Tajir Dost Scheme: FBR.

The prime minister has instructed the tax authorities to promptly include the five billion tax evaders in the tax system and has placed a strong emphasis on working with merchants to improve system efficiency.

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PM Gives FBR Instructions To Speed Up Digitization Work: An investigation revealed a Rs. 800 billion tax refund scam.

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Noting favorable results of FBR’s digitization efforts, Prime Minister Shehbaz Sharif revealed an 800 billion rupee tax refund scam discovered in the last four months.

Shehbaz Sharif stressed improving the tax refund system further while presiding over an important meeting on FBR reforms and digitization in Islamabad.

Regretting the delays in putting various reform programs into action, he emphasized that FBR changes had the potential to increase income.

There is a total of 3.2 trillion rupees worth of ongoing tax cases in various courts and tribunals, according to the briefing given to the conference. With 63 lawsuits worth 44 billion rupees resolved in the last four months, the current government has taken action to resolve these outstanding matters.

The prime minister has directed that efforts be made to attract as many of the 4.9 million potential taxpayers who are wealthy into the tax system as possible without putting undue strain on the impoverished.

Fifty thousand merchants have enrolled so far for the mobile phone retailer registration effort, which began in April.

He also emphasized the necessity for a consolidated approach for continuing reform initiatives and the complete digitization of FBR’s fraud detection and investigation department.

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Mining in Balochistan: Mari Pvt Ltd Secures Exploration License

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Licenses for mineral prospecting in the Chagai District of Balochistan have been obtained by Mari Mining Company Private Limited.

501 square kilometers and 513 square kilometers, respectively, are covered by the licenses that the Directorate General Mines and Minerals Balochistan awarded.

Mari Petroleum Company Limited has formed Mari Mining Company as a subsidiary. Major player in Pakistan’s natural gas sector, Mari Petroleum manages the country’s largest gas deposits in Sindh’s Dakhri Gas Field.

With a success record of 70%, which is much greater than many of its peers both domestically and internationally, Mari Petroleum is a major oil and gas exploration and production business.

Because of the efforts of organizations like the International Monetary Fund, Balochistan, a region rich in minerals and natural resources, is developing quickly.

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