Karachi, February 25, 2025 – The Federal Tax Ombudsman (FTO) has identified a staggering annual revenue loss of Rs 9.38 billion to the Federal Board of Revenue (FBR) due to discrepancies in the collection of electricity tax across the country.
(more…)Author: Shahnawaz Akhter
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FBR Establishes Centralized Customs Examination Unit
Karachi, February 25, 2025 – The Federal Board of Revenue (FBR) has announced the establishment of a Centralized Customs Examination Unit (CEU) in Karachi to enhance the efficiency of customs operations, ensure transparency, and expedite the clearance of goods.
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OGDCL Discovers Oil and Gas in North Waziristan
Karachi, February 25, 2025 – The Oil and Gas Development Company Limited (OGDCL) has announced a significant discovery of oil and gas at the Exploratory Well Spinwam-1 in the Waziristan Block, situated in the North Waziristan District of Khyber Pakhtunkhwa Province.
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Tax Policy Will Not Limit to Mathematical Calculation: Aurangzeb
Karachi, February 24, 2025 – Finance Minister Muhammad Aurangzeb has emphasized that tax policy formulation should not be confined solely to mathematical calculations but must also consider the broader economic value.
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Windfall Tax Issue Remains in Lahore High Court: MCB Bank
Karachi, February 24, 2025 – MCB Bank has confirmed that the windfall tax issue remains sub judice before the Lahore High Court, as the bank has successfully secured a stay order.
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FPCCI Proposes Advance Tax Removal on First Property Purchase
Karachi, February 24, 2025 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has put forward a proposal urging the government to eliminate the advance tax levied on the first purchase of property.
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Speeding Trailer Kills Industrialist Father, Son in Karachi Crash
Karachi, February 24, 2025 – A devastating accident on the ICI Bridge claimed the lives of a well-known industrialist and his son when their car was struck by a speeding trailer.
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PSX Reports 45% Earnings Growth for Half-Year FY25
Karachi, February 24, 2025 – The Pakistan Stock Exchange (PSX) has announced its financial results for the half-year ended December 31, 2024, reporting an impressive 45% increase in profit growth. The strong performance highlights the resilience of the PSX amid evolving market conditions.
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Pakistan, Azerbaijan Sign MOU for Joint Oil Trading Company
Karachi, February 24, 2025 – Pakistan and Azerbaijan have strengthened their energy sector collaboration by signing a Memorandum of Understanding (MOU) on Monday for the establishment of a joint oil trading company.
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KSE-100 Gains 1,529 Points in a Volatile Trading Session
Karachi, February 24, 2025 – The Pakistan Stock Exchange (PSX) witnessed a turbulent trading session on Monday, with the benchmark KSE-100 index surging by 1,529 points or 1.36%.
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