Karachi, May 22, 2025 – The Pakistan Meteorological Department (PMD) has issued an important update regarding a weather system developing in the Arabian Sea. According to the latest PMD advisory, there is currently no threat to any of Pakistan’s coastal areas, including Karachi, from the cyclone forming over the Arabian Sea.
(more…)Author: Mrs. Anjum Shahnawaz
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FBR eyes harsher penalties for retailers in budget 2025-26
Islamabad, May 22, 2025 – In a major move to curb tax evasion, the Federal Board of Revenue (FBR) is set to propose significantly heavier penalties on non-compliant retailers in the upcoming federal budget for 2025-26.
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CCP fines British Lyceum Rs5 million over misleading claims
ISLAMABAD – The Competition Commission of Pakistan (CCP) has imposed a total penalty of Rs 5 million on British Lyceum (Pvt.) Limited for running a misleading and deceptive advertisement, as per a press release issued on Wednesday.
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Govt prioritizing tax compliance over SIM blocking: Saad Waseem
Islamabad, May 22, 2025 – Parliamentary Secretary Sheikh Saad Waseem said on Wednesday that the government is prioritizing tax compliance and broadening the tax base instead of taking punitive actions like blocking mobile SIMs.
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PM Shehbaz reiterates commitment to low-cost housing projects
Prime Minister Muhammad Shehbaz Sharif on Wednesday reaffirmed the government’s unwavering commitment to expanding housing opportunities for low- and middle-income citizens, stating that affordable housing remains a top national priority.
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PMD Karachi closely monitors cyclone development in Arabian Sea
Karachi, May 21, 2025 – The Pakistan Meteorological Department (PMD) in Karachi has announced that it is vigilantly observing a potential cyclone formation in the Arabian Sea.
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OGRA approves gas price hike for SNGPL consumers
Karachi, May 21, 2025 – The Oil and Gas Regulatory Authority (OGRA) has approved a 6.6% increase in gas prices for consumers of Sui Northern Gas Pipelines Limited (SNGPL), a significantly smaller hike than the 40–42% increase demanded by the utility.
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Tax credits likely to be restored in FY26 budget to boost investment
ISLAMABAD, May 21, 2025 – The federal government is working on several proposals to encourage investment and strengthen the corporate sector in the upcoming budget for fiscal year 2025-26. Among the key recommendations under serious consideration is the restoration of tax credits, which were previously available for investments in equity mutual funds and initial public offerings (IPOs).
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FY26 Budget: Govt plans to expand 25% sales tax on luxury items
ISLAMABAD, May 21, 2025 – In the upcoming federal budget for 2025-26, the government is preparing to expand the list of luxury items that will be subject to a higher sales tax rate of 25 percent. This move is aimed at generating more revenue and offsetting the expected losses from reduced customs and regulatory duties.
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Will the proposed tariff policy harm local manufacturers?
The government’s recently proposed tariff policy under the National Tariff Policy 2025–30 has sparked intense debate and concern across Pakistan’s industrial landscape.
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