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Wednesday, July 18th, 2018


PM Nasirul Mulk’s Cabinet Green Lights Open Trial of Sharif Trio

JUL 18, 2018: The federal cabinet of caretaker government on Wednesday approved the open trial of convicted former prime minister Nawaz Sharif in two remaining corruption references lodged against him by the National Accountability Bureau (NAB). The duo’s trial was expected to be held inside the prison premises citing security reasons, according to some media reports. Sharif and daughter Maryam Safdar were arrested upon their arrival in Lahore on July 13 and moved to Adiala jail in Rawalpindi following an accountability court’s verdict in the Avenfield Apartments corruption reference filedRead More

National Debt Crisis: Financial “Pre-Poll Rigging”

We had been reporting since January that between mid-year and year-end, Pak Rupee value could hit 140 and may even cross the 150 mark. JUL 18, 2018 (BE2C2 Analysis): Less than two weeks before Prime Minister Shahid Khaqan Abbasi wrapped up his cabinet and PML-N led federal government to make way for a caretaker setup to oversee July 25 polls, he signed off his John Hancock on several impact moves of far-reaching  significance for the country’s economic and financial sector. The Tax Amnesty Scheme announced by him in March isRead More

Karachi Woman Declares $1.4bn Foreign Assets Under Amnesty Scheme

JUL 17, 2018: A Karachi-based woman has become the highest taxpayer in Pakistan under the latest tax amnesty scheme. According to local media, Karachi-based Maryam Ali paid Rs.3.3 billion rupees in taxes after she declared her foreign assets nrt worth at Rs.165 billion (US$1.38 billion @ $1=PKR120). Public’s response to the amnesty scheme has been positive, as the Tax Amnesty Scheme has received 10 times more response as compared to previous schemes. However, Federal Board of Revenue (FBR) is still updating final figures of its beneficiaries and tax collected underRead More