Cabinet nod to be sought to tax banks’ lofty forex gains

Issues related to fifth round of FTA with the Gulf countries will also be reviewed in the meeting

By Our Correspondent
November 14, 2023
A representational image shows a tax written on a calculator. — AFP/File
A representational image shows a tax written on a calculator. — AFP/File

ISLAMABAD: The meeting of the caretaker federal cabinet was convened on Wednesday. The caretaker Prime Minister Anwaarul Haq Kakar will preside over the meeting. In the meeting, the federal cabinet will review the country’s political and economic situation

According to sources, the federal cabinet will also consider the 6-point agenda. Issues related to the fifth round of the Free Trade Agreement with the Gulf countries will also be reviewed in the meeting. Sources say that the revised Haj Policy 2024 will once again be presented in the cabinet meeting. Permission will be sought to tax the extraordinary profit earned on the foreign exchange by the banks in FY 2021-2022.

During the meeting, approval will be taken to add more countries to the Pakistan Business Visa Online List. The approval of the budget of the Azad Jammu and Kashmir Council for 2023 to 2024 is also

included in the agenda. In the cabinet meeting, Prime Minister Anwaarul Haq Kakar will brief the meeting on the situation in Gaza and his visit to Saudi Arabia. A report on the evacuation of illegally staying foreigners will also be presented in the meeting.