PM meets world leaders in Türkiye
Prime Minister Shehbaz Sharif on Sunday during his recent visit to Türkiye, met various world leaders and discussed bilateral relations and cooperation between Pakistan and their respective countries.
The prime minister arrived in Ankara on Friday on a two-day official visit to attend the re-election ceremonies of Recep Tayyip Erdogan as the country’s president. He was at the event on Saturday. During the meeting, the prime minister outlined the government’s vision to facilitate foreign direct investment and encourage joint ventures.
The exchange includes expansion of trade and investment ties to maximize mutual benefit from the opportunities in Pakistan and enhance cooperation in key economic sectors through the direct presence of Turkish companies and through cooperation with their Pakistani counterparts.
Today, the prime minister met with former Deputy Prime Minister Türkiye and MHP Chairman Devlet Bahceli and conveyed congratulations on the election victory, the PM Office Media Wing said in a press release on Sunday.
In the current fiscal year, the government had set a target of collecting Rs855 billion through the petroleum levy. However, during the first nine months of this fiscal year, the collection only reached Rs362 billion.
Another significant source of non-tax revenue is the profits of the State Bank of Pakistan (SBP). Sources reveal that the finance ministry now estimates the income under this category to be Rs1.1 trillion, compared to the earlier estimate of Rs920 billion.
Non-tax revenues are not shared with the provinces, and the federal government is increasingly relying on these sources to fund its expenditures. The government may also explore other sources, such as wealth tax and windfall levy on banks, to achieve the target of collecting Rs2.9 trillion in non-tax revenues for the next fiscal year, said the sources. However, during the first nine months of this fiscal year, the collection only reached Rs362 billion.
