Price of LPG cylinders increased by Rs343.4 per 11.8kg cylinder

The price of an LPG cylinder for domestic use has increased by a whopping Rs343, Geo News reported Friday. The Oil and Gas Regulatory Authority (OGRA) issued a notification in which the price of an 11.8kg LPG cylinder for domestic use has been set at Rs2,403.55.

The new prices came into effect today, October 1. The notification disclosed that the price of an LPG cylinder has increased by Rs29.11 per kg, which means that the new price of an LPG cylinder for domestic use is Rs203.69.

Since LPG is considered the “poor man’s fuel” and is also used in majority of the areas where gas is not available, it might hit the household budgets of a large part of the population. The price of LPG has been on the rise for the last several months.

Propane and butane are two major components of LPG, which Middle Eastern oil producers sell to Asian countries.

The price of a commercial cylinder weighing 45.4kg also increased by Rs1,321/cylinder and will be sold for Rs9,247. According to a notification, the LPG price has increased by Rs29.1/kg to Rs203.7/kg from the September price of Rs174.6/kg

Ogra also announced an increase in the prices of petroleum products, which also came into effect today.

The petrol price has been jacked up "due to increase in the petroleum prices in the international market", said a Finance division notification.

"Ogra has worked out the higher petroleum prices but the prime minister has decided against the recommendation and passed the minimum increase in prices on to the consumers," it said.

The government has absorbed the higher international pressure of prices through a reduction in the petroleum levy and sales tax, it added. "Petroleum prices in Pakistan are the cheapest in the region," the notification claimed.

Meanwhile, kerosene costs Rs7.05 more and is priced at Rs99.31 per liter, while light diesel oil became Rs8.82 dearer to cost Rs99.51 per liter. The price of LPG has been increased by a whopping 16.67% to Rs2,403.5 per cylinder for October.

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FBR surpassed collection target in Q1 by 38%: PM Imran Khan

Prime Minister Imran Khan has congratulated the nation on the Federal Board of Revenue’s (FBR) achievement of surpassing the collection target set for the first quarter of the ongoing fiscal year.

“I congratulate the nation on FBR’s achievement of collecting Rs.1,395 billion in Q1 of FA 2021-22 against the target of Rs.1,211 billion,” PM Imran Khan said on Friday.

“This represents a growth of 38% in revenues over the same period last year,” he added.

The FBR collected Rs1,395 billion in the first quarter (July-Sept) of the current fiscal year against the set target of Rs1,211 billion, exceeding by Rs184 billion, according to a report published in The News.

The net collection for September 2021 realised Rs535 billion representing an increase of 31.2 % over Rs408 billion collected in September 2020. These figures would further improve before the close of the day and after book adjustments have been taken into account.

On the other hand, gross collections increased from Rs1,059 billion during July-September, 2020 to Rs1,454 billion in the current financial year, showing an increase of 37.3%.

The number of refunds disbursed was Rs59 billion during July-September, 2021 compared to Rs49 billion paid last year, reflecting an increase of 20.2%.

After collecting over Rs4.7 trillion and exceeding its assigned revenue targets set for the tax year 2020-21, the FBR has successfully maintained the momentum set in July 2021.

Its tax collection posted historic high growth in the first quarter of the current fiscal year. During the first quarter, the FBR has far surpassed its revenue target by Rs186 billion.

According to a statement, the FBR is well on its way to achieving the assigned target of Rs5,829 billion for the year despite the daunting challenges, compelling constraints posed by the corona pandemic, and sporadic tax cuts announced by the government as relief and price stabilization measures

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FBR surpassed collection target in Q1 by 38%: PM Imran Khan

Prime Minister Imran Khan has congratulated the nation on the Federal Board of Revenue’s (FBR) achievement of surpassing the collection target set for the first quarter of the ongoing fiscal year.

“I congratulate the nation on FBR’s achievement of collecting Rs.1,395 billion in Q1 of FA 2021-22 against the target of Rs.1,211 billion,” PM Imran Khan said on Friday.

“This represents a growth of 38% in revenues over the same period last year,” he added.

The FBR collected Rs1,395 billion in the first quarter (July-Sept) of the current fiscal year against the set target of Rs1,211 billion, exceeding by Rs184 billion, according to a report published in The News.

The net collection for September 2021 realised Rs535 billion representing an increase of 31.2 % over Rs408 billion collected in September 2020. These figures would further improve before the close of the day and after book adjustments have been taken into account.

On the other hand, gross collections increased from Rs1,059 billion during July-September, 2020 to Rs1,454 billion in the current financial year, showing an increase of 37.3%.

The number of refunds disbursed was Rs59 billion during July-September, 2021 compared to Rs49 billion paid last year, reflecting an increase of 20.2%.

After collecting over Rs4.7 trillion and exceeding its assigned revenue targets set for the tax year 2020-21, the FBR has successfully maintained the momentum set in July 2021.

Its tax collection posted historic high growth in the first quarter of the current fiscal year. During the first quarter, the FBR has far surpassed its revenue target by Rs186 billion.

According to a statement, the FBR is well on its way to achieving the assigned target of Rs5,829 billion for the year despite the daunting challenges, compelling constraints posed by the corona pandemic, and sporadic tax cuts announced by the government as relief and price stabilization measures

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Pakistan reports 56 corona deaths in 24 hours

Pakistan has reported 56 deaths in the last 24 hours by novel coronavirus as the number of positive cases has surged to 1,246,538. The nationwide tally of fatalities has jumped to 27,785 on Friday.According to the latest figures issued by the National Command and Operation Center (NCOC), 1,411 persons tested positive for COVID-19 in the past 24 hours.

Province-wise Details:

Punjab remains the worst-hit province in terms of deaths followed by Sindh and Khyber Pakhtunkhwa.

Till now 12,595 individuals have lost their lives to the epidemic in Punjab 7,379 in Sindh 5,525 in KP, 922 in Islamabad, 737 in Azad Kashmir, 348 in Balochistan, and 184 in GB.

Furthermore, 457,928 coronavirus cases have been confirmed in Sindh, 431,666 in Punjab 174,017 in Khyber Pakhtunkhwa, 105,516 in Islamabad, 34,157 in Azad Kashmir, 32,926 in Balochistan and 10,328 in Gilgit-Baltistan.

 

Tests and Recoveries

Pakistan has so far conducted 19,435,155 coronavirus tests and 49,049 in the last 24 hours. 1,167,189 patients have recovered in the country whereas 3,948 patients are in critical condition.

Positivity Ratio

The COVID-19 positivity ratio was recorded at 2.87 percent.

Vaccine Statistics

So far, 58,963,116 people have received their first dose of coronavirus vaccine including 557,239 in last 24 hours. 28,407,862 citizens have been fully vaccinated while 600,798 received their second dose in last 24 hours.

The number of total administered doses has reached to 81,634,971 with 1,126,402 in the last 24 hours.

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Pakistan reports 56 corona deaths in 24 hours

Pakistan has reported 56 deaths in the last 24 hours by novel coronavirus as the number of positive cases has surged to 1,246,538. The nationwide tally of fatalities has jumped to 27,785 on Friday.According to the latest figures issued by the National Command and Operation Center (NCOC), 1,411 persons tested positive for COVID-19 in the past 24 hours.

Province-wise Details:

Punjab remains the worst-hit province in terms of deaths followed by Sindh and Khyber Pakhtunkhwa.

Till now 12,595 individuals have lost their lives to the epidemic in Punjab 7,379 in Sindh 5,525 in KP, 922 in Islamabad, 737 in Azad Kashmir, 348 in Balochistan, and 184 in GB.

Furthermore, 457,928 coronavirus cases have been confirmed in Sindh, 431,666 in Punjab 174,017 in Khyber Pakhtunkhwa, 105,516 in Islamabad, 34,157 in Azad Kashmir, 32,926 in Balochistan and 10,328 in Gilgit-Baltistan.

 

Tests and Recoveries

Pakistan has so far conducted 19,435,155 coronavirus tests and 49,049 in the last 24 hours. 1,167,189 patients have recovered in the country whereas 3,948 patients are in critical condition.

Positivity Ratio

The COVID-19 positivity ratio was recorded at 2.87 percent.

Vaccine Statistics

So far, 58,963,116 people have received their first dose of coronavirus vaccine including 557,239 in last 24 hours. 28,407,862 citizens have been fully vaccinated while 600,798 received their second dose in last 24 hours.

The number of total administered doses has reached to 81,634,971 with 1,126,402 in the last 24 hours.

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Petrol price in Pakistan moves up by Rs4 from October 1

The government on Thursday announced it has raised the price of petrol by Rs4 from October 1 "due to an increase in petroleum prices in the international market", according to a notification from the Finance Division.

"OGRA has worked out the higher petroleum prices but prime minister has decided against the recommendation and passed on the minimum increase in prices to the consumers," the notification said.

The government has absorbed the higher international pressure of prices through a reduction in petroleum levy and the sales tax, it added.

"It is pertinent to mention that petroleum prices in Pakistan are the cheapest in the region," the notification claimed.

Earlier, the OGRA spokesperson said that the price of petroleum products will be announced tomorrow by the government.

Petrol, with the Rs4 increase, costs Rs127.30 per litre, whereas high-speed diesel, with an increase of Rs2, costs Rs122.04 per litre.

Meanwhile, kerosene oil costs Rs7.05 more and is priced at Rs99.31 per litre, while light diesel oil became Rs8.82 dearer to cost Rs99.51 per litre.

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FBR extends tax return filing date till Oct 15

The Federal Board of Revenue (FBR) on Thursday extended the date for filing income tax returns for individuals and companies to October 15, 2021.

Earlier, the FBR had said it would not extend the deadline for people seeking to file their income tax returns.

However, keeping in view the demand of the business community and the technical issues faced by tax filers due to server errors, the board has extended the last date of filing income tax returns.

Minister for Finance Shaukat Tarin decided to extend the date considering the constant demands from the business community. The tax-collection body had received several applications for the extension of the deadline of filing income tax returns.

The Karachi Chamber of Commerce and Industry (KCCI) confirmed that the finance minister has given a 15-day extension to the people and businessmen to file tax returns.

The business delegation highlighted the issues faced by the tax filers and also shared their concerns regarding other taxes as well.

The KCCI members called for amendments in the ineffective tax policies and raised concerns over implementation of Tax Laws (Third Amendment) Ordinance 2021.

They lamented that all such laws that impose fines always start from Karachi.

The delegation suggested that the term "under-filers" should be replaced with "non-filers" in the Ordinance.

Earlier, FBR officials had directed concerned commissioners to cooperate with filers seeking an extension, sources said.

"People who want a 15-day relief will have to either file an application or apply online, " the FBR had said.

Sources added that aside from those facing hardships, people experiencing technical issues will also be granted an extension in the deadline.

 

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