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Budget 2024-25: Telecom companies oppose deduction of 75% tax on mobile balance

03:05 PM | 21 Jun, 2024
Budget 2024-25: Telecom companies oppose deduction of 75% tax on mobile balance
Source: File Photo

ISLAMABAD – Telecom companies have opposed a budgetary proposal of deducting 75 percent in wake of tax on mobile phone balance by consumers, who are non-filers.

They raised their concerns in a meeting of the Senate Standing Committee on Finance chaired by Senator Saleem Mandviwala.

They complained that the government was trying to put the burden of its work on the telecom companies, adding that the task being assigned to them is actually the job of the law enforcement agencies.  

“If we fail to comply with the task, we could face penalties ranging from Rs100 to 200 million,” they said while calling it injustice.

They said the companies were being asked to cut 75% tax on mobile balance of non-filers, adding that “this is not our job and nor were we consulted”.

The companies said that foreign investors have also expressed concerns on the proposal laid forth by the government in Budget 2024-25.

Speaking on the occasion, Senator Mohsin Aziz called for resolving the issues of the telecom sector, adding that the points raised by the telecos representatives are valid.

On June 12, the federal government unveiled the budget for next fiscal year, proposing various taxes on non-filers.

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US Dollar, Euro, Dirham, Pound, Riyal Rate in Pakistan Today - Currency Rates 23 July 2024

Pakistani currency rates against US Dollar and other currencies on July 23, 2024 (Tuesday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 279.25 for buying and 280.70 for selling. Euro's buying rate remains stable at 354.5 and selling rate is 358.35.

British Pound rate is 354.75 for buying, and 358.25 for selling. UAE Dirham AED was at 76.4 and Saudi Riyal lowered to 73.60.

Currency Rates Today

Currency Symbol Buying Selling
US Dollar USD 279.15 280.85
Euro EUR 301.25 303.25
UK Pound Sterling GBP 354.75 358.25
U.A.E Dirham AED 76.40 77.15
Saudi Riyal SAR 73.60 74.32
Australian Dollar AUD 184.75 186.55
Bahrain Dinar BHD 741.15 749.15
Canadian Dollar CAD 203.50 205.50
China Yuan CNY 38.35 38.75
Danish Krone DKK 40.05 40.45
Hong Kong Dollar HKD 35.70 36.05
Indian Rupee INR 36.05 36.05
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 908.25 917.35
Malaysian Ringgit MYR 58.95 59.75
New Zealand Dollar NZD 169.24 171.24
Norwegians Krone NOK 26.04 26.34
Omani Riyal OMR 722.87 730.89
Qatari Riyal QAR 76.39 77.09
Singapore Dollar SGD 202.00 204.00
Swedish Korona SEK 26.40 26.70
Swiss Franc CHF 309.05 311.55
Thai Bhat THB 7.50 7.65

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