News & Updates

News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

FBR Seized Non-Duty Paid Goods Worth Over Rs. 80 Billion in FY24

The Federal Board of Revenue (FBR) has seized non-duty paid/smuggled goods worth Rs 81.6 billion during 2023-2024 as com...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Govt Likely to End Exemption for AOPs on Filing Income Tax Returns

The government is considering a proposal that all Association of persons (AOPs), irrespective of their income, may be re...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Govt Proposes 5% FED on Real Estate

The federal government has proposed to impose a 5 percent federal excise duty (FED) on new plots and residential and com...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Imported Hybrid Car Prices Increased in Budget 2025

The government has removed tax exemptions on imported hybrid cars, according to the official budget 2024-25 announcement...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Here Are The Highlights From Budget 2024-25

Finance Minister Muhammad Aurangzeb on Wednesday unveiled the federal budget 2024-25 with a full outlay of Rs. 18.9 tril...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Govt Introduces Fixed Minimum Sales Tax for Imports in Budget 2025

To enhance revenue collection and curb tax evasion, the upcoming fiscal budget of Pakistan for 2024-2025 has proposed to...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Direct-to-Home TV, Radio Licenses to Attract $2-3 Billion Investment: Economic Survey

New licenses for Direct-To-Home (DTH) services will be issued by the Pakistan Electronic Media Regulatory Authority (PEM...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Govt Approves Up to 25% Increase in Salaries

The federal cabinet has reportedly approved to increase the salaries of government employees with increments of up to 25...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Premium Smartphones to Get More Expensive Following Budget 2024-25

According to the finance bill of 2024, sales tax on smartphone imports as well as IMEI registration is now 25% ad valore...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Sales Tax Doubled on Computers and Laptops in Budget 2025

The Government of Pakistan has proposed an adjustment in the budget 2024-2025 by doubling the sales tax on computers and...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Medicines to Get More Expensive as Govt Proposes Huge Sales Tax in Budget 2024-25

The coalition government unveiled the budget for the fiscal year 2024-25 today, introducing significant changes that cou...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Govt Increases Car Prices in Budget 2025 With Higher Tax

The government has proposed an increase in withholding tax charged on the purchase of new cars, according to the officia...

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News Update

11

Jun 2024

Jun 11, 2024 • 5 min read

Hoechst Pakistan Board Accords Approval to Finalize Terms for Acquisition of Products from Sanofi Affiliates

Hoechst Pakistan Limited (PSX: HPL) is set to finalize acquisition of certain products along with associated trademarks...

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News Update

11

Jun 2024

Jun 11, 2024 • 5 min read

Pakistan’s Education Spending as Percentage of GDP Lowest in Region: Economic Survey

The cumulative education expenditures by federal and provincial governments declined as percentage to GDP in fiscal year...

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News Update

11

Jun 2024

Jun 11, 2024 • 5 min read

Pakistan’s Agriculture Sector Grew by Over 6% in FY24

The agriculture sector in Pakistan witnessed robust growth in FY2024, with an overall increase of 6.25 percent, accordin...

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News Update

11

Jun 2024

Jun 11, 2024 • 5 min read

Govt Seeks Rs. 932 Billion Foreign Loans to Finance Development Projects Next Fiscal Year

The federal government plans to borrow Rs. 932 billion to finance development projects next fiscal year. The federal gov...

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News Update

11

Jun 2024

Jun 11, 2024 • 5 min read

World Bank Approves $1 Billion Loan for DASU Hydropower Project

The World Bank’s Board of Executive Directors approved on Monday $1 billion in a second round of additional financing fo...

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News Update

11

Jun 2024

Jun 11, 2024 • 5 min read

World Bank Forecasts Pakistan’s GDP to Grow By 2.3% in FY25

The World Bank has projected Pakistan GDP growth rate at 2.3 percent for fiscal year 2024-25. The Bank in its latest rep...

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News Update

11

Jun 2024

Jun 11, 2024 • 5 min read

6-Month KIBOR Falls By 56 Basis Points After SBP Rate Cut

The central bank of Pakistan in yesterday’s decision announced the rate cut of 150 basis points, taking the policy rate...

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News Update

11

Jun 2024

Jun 11, 2024 • 5 min read

Tax Exemptions Cost National Exchequer Nearly Rs. 4 Trillion in FY24

Tax exemptions surged to Rs. 3.879 trillion during the outgoing fiscal year 2023- 2024 (FY24). The Pakistan Economic Sur...

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News Update

11

Jun 2024

Jun 11, 2024 • 5 min read

K-Electric Launches Home-Based Tax Certificates and Online Services

K-Electric has introduced several new services to enhance convenience for its consumers, including obtaining tax-paid ce...

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