Karachi, January 27, 2025 – The All Pakistan Textile Mills Association (APTMA), Southern Zone, has termed the Economic Coordination Committee’s (ECC) recent decision to increase the gas tariff for Captive Power Plants (CPPs) from Rs. 3,000/MMBTU to Rs. 3,500/MMBTU as disastrous for the country’s textile exports. The textile industry, which accounts for 60% of Pakistan’s total exports, faces significant challenges due to this decision, APTMA emphasized.
(more…)Author: Shahnawaz Akhter
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KSE-100 Plunges 1,360 Points Amid Broad Market Sell-Off
Karachi, January 27, 2025 – The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) recorded a sharp decline on Monday, shedding 1,360 points amid heavy selling pressure. The KSE-100 index closed at 113,520 points, down from last Friday’s closing of 114,880 points.
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SBP Slashes Interest Rate to 12% Amid Inflation Decline
Karachi, January 27, 2025 – The State Bank of Pakistan (SBP) announced a significant reduction in its benchmark policy rate, cutting it by 100 basis points to 12%. The decision, effective from January 28, 2025, was made during the Monetary Policy Committee (MPC) meeting held on Monday.
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FBR Decodes Mechanism for Adjustment of Input and Output Tax
Karachi, January 27, 2025 – The Federal Board of Revenue (FBR) has unveiled the detailed mechanism for the adjustment of input and output tax under the sales tax laws applicable for the tax year 2025. This mechanism, as outlined in Rule 22 of the Sales Tax Rules, 2006, provides clear guidelines to ensure proper compliance.
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SBP May Surprise With Significant Rate Cut in Today’s MPC
Karachi, January 27, 2025 – The State Bank of Pakistan (SBP) is expected to make headlines by announcing a substantial interest rate cut during today’s Monetary Policy Committee (MPC) meeting. Market experts anticipate a rate cut of at least 100 basis points (bps), which would bring the benchmark policy rate down to 12% from the current 13%.
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FBR Revises Tax Rates for Property Transactions in 2025
Karachi, January 27, 2025 – The Federal Board of Revenue (FBR) has announced updated withholding tax rates for property transactions applicable during the tax year 2025.
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Karachi Traders Laud Faceless Customs System: FBR Chief
Karachi, January 26, 2025 – Chairman of the Federal Board of Revenue (FBR), Rashid Mahmood Langrial, highlighted the overwhelming support from Karachi’s trading community for the newly introduced Faceless Customs Assessment (FCA) system.
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FBR Defends Plan to Buy 1,010 Cars Amid Corruption Allegations
The Federal Board of Revenue (FBR) has reaffirmed its contentious decision to procure 1,010 Honda vehicles for its officers, sparking intense criticism from the Senate Standing Committee on Finance.
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FBR Updates Rules for Sales Tax Suspension Process
Karachi, January 26, 2025 – The Federal Board of Revenue (FBR) has directed its field tax offices, including Large Taxpayers Offices (LTOs) and Regional Tax Offices (RTOs), to adopt a standardized approach for the suspension and blacklisting of sales tax registered persons. These directives aim to ensure uniformity in compliance with Rule 12 of the Sales Tax Rules, 2006, and Section 21(2) of the Sales Tax Act, 1969.
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ICMAP Calls for SBP to Reduce Policy Rate to 11%
The Institute of Cost and Management Accountants of Pakistan (ICMAP) has urged the State Bank of Pakistan (SBP) to lower the key policy rate from the current 13% to 11%, advocating for a strategic reduction of 200 basis points (bps) to reinvigorate economic activity, boost investment, and restore confidence in Pakistan’s economy.
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