Cabinet waives taxes on bonds
Country to raise $2b through Chinese currency-denominated bonds, other papers
The federal government has recently offered very high interest rate to overseas Pakistanis on their investments in digital accounts. PHOTO: FILE
ISLAMABAD:
The federal cabinet on Tuesday waived one-dozen types of income taxes to raise around $2 billion in debt through Pakistan’s first Chinese currency-denominated bonds and Eurobonds in a bid to make borrowing relatively less expensive.
The investors who would invest in these bonds and earn profits will not be required to pay up to 30% income tax along with other taxes.
The cabinet exempted investors from income tax after the Ministry of Finance told it that without exemptions, the sovereign bonds would be “less appealing to international investors”.
Falling on the bank of Chenab, after the confluence of two more rivers, its riverine area is huge and its land is enormously fertile.
History has bestowed Multan with many gifts: it is known as a city of saints, the town has been continuously inhabited for more than 2,000 years and located in an area dating back to the Harapan civilization it has always been a part of world-acclaimed Indus Civilisation. Not only history, but its natural endowments have been unique as well.
Falling on the bank of Chenab, after the confluence of two more rivers, its riverine area is huge and its land is enormously fertile. Benefitting from these gifts, the city earned the distinction of being the agricultural capital of Punjab, feeding the world with the finest varieties of mango and historically driving the textile industry with premium cotton.
Unforgettable 2020: When India-Pak ties hit a new low
India
Updated: Thursday, December 24, 2020, 12:44 [IST]
New Delhi, Dec 24: The relations between Pakistan and India plumbed new depths in 2020, a year marred by periodic verbal duels, summoning of diplomats and rhetorics by Prime Minister Imran Khan, who is facing mounting pressure from the Opposition to step down in the middle of the Covid-19 pandemic that has battered the country s fragile economy.
Bilateral ties suffered a series of blows in 2019 after Pakistan-based Jaish-e-Mohammad (JeM) terror group killed 44 CRPF soldiers in Pulwama, prompting India to carry out air strikes on terror training camps in Balakot.
Pakistan-India relations plumb new depths in 2020 - The Financial Express financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
India-Pakistan relations plumb new depths in 2020
SECTIONS
Last Updated: Dec 23, 2020, 02:32 PM IST
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Synopsis
The relations nose-dived further following the abrogation of Article 370 of India s Constitution in August, 2019 that revoked the special status of Jammu and Kashmir. The move angered Pakistan, which downgraded diplomatic ties with India and expelled the Indian High Commissioner in Islamabad. Pakistan also snapped all air and land links with India and suspended trade and railway services.
A file image of India and Pakistan s national flags
ISLAMABAD: The relations between Pakistan and India plumbed new depths in 2020, a year marred by periodic verbal duels, summoning of diplomats and rhetorics by Prime Minister Imran Khan, who is facing mounting pressure from the Opposition to step down in the middle of the COVID-19 pandemic that has battered the country s fragile economy.