Islamabad, May 5, 2025 – President of the All Pakistan Sarafa Gems and Jewelers Association, Qasim Shikarpuri, has strongly criticized the government’s latest economic policies, calling them a fresh assault on the already struggling business community.
(more…)Author: Shahnawaz Akhter
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Utility Stores face closure amid massive layoffs
Karachi, May 4, 2025 – The Utility Stores Corporation (USC) is teetering on the brink of closure following the government’s sudden termination of thousands of contractual employees.
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KCCI rejects new tax ordinance, urges immediate withdrawal
Karachi, May 4, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has strongly denounced the recently promulgated Tax Laws (Amendment) Ordinance, 2025, calling it undemocratic and detrimental to business confidence.
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KTBA proposes overhaul of tax audit framework for FBR
Karachi, May 4, 2025 – The Karachi Tax Bar Association (KTBA) has put forward a detailed proposal for the Federal Board of Revenue (FBR) to adopt a comprehensive and transparent audit plan aimed at improving tax compliance and restoring taxpayer confidence.
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PSX proposes tax credits revival for salaried share investors
Karachi, May 4, 2025 – The Pakistan Stock Exchange (PSX) has urged the Federal Board of Revenue (FBR) to reinstate tax credits for the salaried class investing in the capital market.
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SMEDA Board approves comprehensive revamping plan
The Board of Directors of the Small and Medium Enterprises Development Authority (SMEDA) has officially approved the Implementation Plan for SMEDA’s comprehensive revamping during its 30th meeting held on Sunday.
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FBR unleashes crackdown using new sweeping legal authority
The federal government has triggered serious concerns across the business and legal communities by granting sweeping, extraordinary powers to the Federal Board of Revenue (FBR) through the Tax Laws Amendment Ordinance, 2025—bypassing parliamentary debate just weeks ahead of the federal budget.
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Tea importers urge review of minimum retail price policy
Karachi, May 4, 2025 – Tea importers have urged the government and tax authorities to urgently review the current minimum retail price (MRP) mechanism applied to tea, warning that the existing framework is distorting the market, undermining legal trade, and facilitating widespread tax evasion.
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FBR begins swift tax recovery from bank accounts under new law
Islamabad, May 4, 2025 – The Federal Board of Revenue (FBR) has officially begun immediate recovery of outstanding taxes directly from taxpayers’ bank accounts, following the promulgation of the Tax Laws (Amendment) Ordinance, 2025.
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RTO – I Karachi sets up WhatsApp helpline to fight corruption
Karachi, May 3, 2025 — The Regional Tax Office (RTO)-I Karachi has taken a new step to fight corruption by launching a dedicated WhatsApp number for public complaints against tax officers and staff.
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