News & Updates

News Update

25

Jun 2024

Jun 25, 2024 • 5 min read

FBR Tax Offices to Remain Open on June 28, 29, 30

The Federal Board of Revenue (FBR) has directed Inland Revenue field formations to remain open on June 28 (Friday), June...

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News Update

25

Jun 2024

Jun 25, 2024 • 5 min read

Non-Filers to be Given Chance to Explain Their Position Before Travel Ban

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb Tuesday said that non-filers of income tax will be g...

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News Update

25

Jun 2024

Jun 25, 2024 • 5 min read

Rupee Rebounds Against US Dollar, Retains 278 Level

The Pakistani rupee (PKR) reversed losses against the US Dollar today after opening trade at 278 in the interbank market...

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News Update

25

Jun 2024

Jun 25, 2024 • 5 min read

FBR Issues Same Old Complicated Tax Return Form For Salaried Class

The Federal Board of Revenue (FBR) has issued a draft of the electronic income tax return forms for companies, associati...

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News Update

25

Jun 2024

Jun 25, 2024 • 5 min read

Govt Might Withdraw Proposal to Bring Exporters Under Normal Tax Regime

The government is considering withdrawing its proposal to bring exporters into the normal tax regime. Instead, it may im...

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News Update

25

Jun 2024

Jun 25, 2024 • 5 min read

Senate Finance Committee Unanimously Rejects Proposal to Increase Taxes On Salaried Class

The Senate Committee on Finance and Revenue on Monday unanimously rejected the federal government’s proposal to increase...

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News Update

25

Jun 2024

Jun 25, 2024 • 5 min read

Govt Slashes PSDP by Rs. 250 Billion

The federal government has decided to cut the Public Sector Development Programme (PSDP) of Rs. 1.4 trillion for the fis...

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News Update

25

Jun 2024

Jun 25, 2024 • 5 min read

Govt Borrowed More Money From Banks This Fiscal Year Than Previous 2 Years Combined

The federal government borrowed Rs. 7.39 trillion from banks in 11 months of fiscal year 2024, exceeding the amount borr...

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News Update

25

Jun 2024

Jun 25, 2024 • 5 min read

Govt-Run Entities Reported a Loss of Rs. 905 Billion in FY23: Finance Ministry

State-owned enterprises (SOEs) reported an aggregate loss of Rs. 905 billion in fiscal year 2022-23, up 23 percent from...

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News Update

25

Jun 2024

Jun 25, 2024 • 5 min read

Pakistan Tea Association Rejects “Discriminatory” Taxation in Budget 2024-25

Pakistan Tea Association (PTA) has expressed its profound concerns and apprehensions vis-a-vis the proposed budget’s con...

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News Update

25

Jun 2024

Jun 25, 2024 • 5 min read

Gold Price in Pakistan Posts Slight Loss to Remain Range Bound

The price of gold in Pakistan fell by Rs. 500 per tola on Tuesday, erasing the previous day’s gains. According to data i...

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News Update

25

Jun 2024

Jun 25, 2024 • 5 min read

Govt Takes U-Turn on Solar Panel Taxes

The federal cabinet decided on Tuesday that no new duty will be imposed on solar panels. In a meeting chaired by Prime M...

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News Update

25

Jun 2024

Jun 25, 2024 • 5 min read

Finance Minister Announces 3 Extra Salaries for National Assembly Employees

Finance Minister Senator Muhammad Aurangzeb addressed the National Assembly to conclude the federal budget for the FY25...

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News Update

25

Jun 2024

Jun 25, 2024 • 5 min read

American Business Council Asks Govt to Reconsider Removal of 25% Advertising Expense Policy

The American Business Council has urged the federal government to reconsider the removal of the 25 percent Sales Promoti...

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News Update

24

Jun 2024

Jun 24, 2024 • 5 min read

Electricity Worth Rs. 600 Billion is Stolen Every Year: Minister

Pakistan loses Rs. 600 billion per year due to electricity theft, Energy Minister Owais Ahmad Laghari told a private new...

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News Update

24

Jun 2024

Jun 24, 2024 • 5 min read

Telcos Asks SIFC to Abolish Fines, Advance Tax on Non-Filers in Finance Bill

The Telecom Operators Association has made an urgent appeal to the Special Investment Facilitation Council (SIFC) to abo...

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News Update

24

Jun 2024

Jun 24, 2024 • 5 min read

Shehzad Roy Convinces Govt to Reconsider Book Tax, Withdrawal of Tax Rebate on Teachers

Prime Minister Shehbaz Sharif and Planning Minister Ahsan Iqbal have reassured Pakistani singer Shehzad Roy that the gov...

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News Update

24

Jun 2024

Jun 24, 2024 • 5 min read

SECP Invites Feedback For Improving REIT Regulations

The Securities and Exchange Commission of Pakistan has published a Consultation Paper to invite feedback/suggestions on...

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News Update

24

Jun 2024

Jun 24, 2024 • 5 min read

Govt to Set Up Project Management Unit For Hiring New Talent For SIFC

The federal government has decided to establish a Project Management Unit (PMU) to hire the best talent to enhance SIFC’...

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News Update

24

Jun 2024

Jun 24, 2024 • 5 min read

Millat Tractors Denies Reports of Being Fined Rs. 5.4 Billion for Sales Tax Audit Discrepancy

Millat Tractors Limited (PSX: MTL) has denied media reports about being fined Rs. 5.4 billion in sales tax audit discrep...

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News Update

24

Jun 2024

Jun 24, 2024 • 5 min read

Govt Has No Money so Equity Swaps only Option to Settle Pending Dues: PSO

Pakistan State Oil (PSO) has proposed equity swaps to settle its receivables balance with the federal government. The fe...

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