The Sensitive Price Indicator (SPI) for the week ended November 25, 2021 registered a decrease of 0.67% for the combined income group, going down from 169.29 points during the week ended November 18, 2021 to 168.16 points in the week under review.
The SPI for the combined income group rose 18.64% compared to the corresponding week of previous year. The SPI for the lowest income group decreased 0.81% compared to the previous week. The index for the group stood at 177.6 points against 179.05 points in the previous week, according to provisional figures released by the Pakistan Bureau of Statistics (PBS). During the week under review, average prices of 20 items rose in a selected basket of goods, prices of eight items fell and rates of remaining 23 goods recorded no change.
On the other hand, rupee weakened against the US dollar at Rs175.46 in the inter-bank market on Friday compared with Thursday’s close of Rs174.97, according to the (SBP).
Sensitive Price Indicator (SPI) is computed on weekly basis to assess the price movements of essential items at shorter interval of time so as to review the current price situation in the country. SPI comprises of 51 necessary commodities which are being collected from 50 markets in 17 cities of the country.
The relief will benefit approximately 12,300 individuals who have already deposited Rs2.6 billion in taxes to the FBR on their declared assets in the year 2019. The total amount that was legalised has not been disclosed. The FBR system has been enabled for this purpose and all taxpayers can now file their declarations between Sept 10 and 25.
As many as 2,125 projects worth Rs350bn have been registered with the FBR’s online system by 1,321 persons. Out of these, 1,775 are new projects and 350 existing ones.
The builders and developers are required to get their projects registered on FBR’s computer-based IRIS software on or before June 30 this year and the projects should be completed before Sept 30, 2023.
The salient features of the package include fixed tax for builders and developers, immunity from probe and concessions from withholding of taxes. The FBR has provided all the required facilities to the beneficiaries of the package which include the establishment of a dedicated web page, dedicated email to address inquiries and an online step-by-step guide for the builders and developers.
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