Karachi, May 14, 2025 – Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading state-owned energy company, announced on Wednesday that it has been provisionally awarded petroleum exploration rights over seven new blocks across various regions of the country.
(more…)Author: Shahnawaz Akhter
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SBP receives $1.02 billion tranche from IMF under EFF program
Karachi, May 14, 2025 – The State Bank of Pakistan (SBP) confirmed on Wednesday that it has received a $1.023 billion disbursement from the International Monetary Fund (IMF) under the ongoing Extended Fund Facility (EFF) program.
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KTBA recommends ban on non-filer property transactions
Karachi, May 14, 2025 – The Karachi Tax Bar Association (KTBA) has put forth a significant recommendation as part of its tax proposals for the upcoming budget 2025-26: a ban on all property transactions undertaken by individuals who are not active filers of income tax returns.
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SRB rewards tax-conscious customers with first POS prize draw
Karachi, May 14, 2025 – The Sindh Revenue Board (SRB) has successfully conducted its inaugural computerized prize ballot draw, celebrating customers who actively verified their invoices from businesses integrated with Point of Sale (POS) systems.
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Luxury Car Sales Soar, Revealing Pakistan’s Class Divide
The latest figures released by the Pakistan Auto Manufacturers Association (PAMA) have sparked renewed debate over the country’s growing economic inequality, as car sales data reveals a stark contrast in consumer behavior across income groups.
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LCCI urges PM to withdraw FBR SROs impacting cement sector
LAHORE, May 13, 2025 — The Lahore Chamber of Commerce and Industry (LCCI) has strongly urged the Federal Board of Revenue (FBR) to withdraw two recently issued statutory regulatory orders (SROs) — SRO 578(I)/2025 and SRO 709(I)/2025 — which have sparked serious concern within the cement distribution sector.
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Luxury car sales in Pakistan soar by 47% in first 10 months of FY25
Karachi, May 13, 2025 — Luxury car sales in Pakistan have recorded a significant surge, reflecting a broader shift in consumer preferences and economic behavior.
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OICCI suggests strategic tax incentives for budget 2025-26
Karachi, May 13, 2025 – The Overseas Investors Chamber of Commerce and Industry (OICCI) has put forward a comprehensive set of tax reform proposals aimed at fostering compliance, promoting sustainability, and stimulating inclusive economic growth in Pakistan. The proposals, submitted ahead of the federal budget 2025-26, emphasize the need for strategic incentives rather than punitive measures.
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Foreign investors push Pakistan to scrap Rs5,000 banknote
Karachi, May 13, 2025 – A group of foreign investors operating in Pakistan has urged the government to demonetize the Rs5,000 currency note as part of a broader push to discourage cash-based transactions and accelerate the country’s shift toward a digital economy.
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FBR to launch remote image analysis system for port integration
Karachi, May 13, 2025 – In a major step towards modernizing its operations, the Federal Board of Revenue (FBR) is set to implement a cutting-edge Remote Image Analysis Center (RIAC) aimed at integrating data across all entry and exit points of the country, including seaports, land border posts, and airports.
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