Karachi, May 5, 2025 — In a move that exceeded market forecasts, the State Bank of Pakistan (SBP) announced a 100 basis point reduction in its benchmark policy rate, bringing it down to 11%, effective May 6, 2025.
(more…)Author: Shahnawaz Akhter
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FTO orders Customs to return gold held Illegally for 27 years
ISLAMABAD: May 5, 2025 — In a landmark decision, the Federal Tax Ombudsman (FTO) has directed Pakistan Customs to return 170 tolas of gold unlawfully held for over 27 years, following a protracted legal battle that saw judgments in favor of the complainant from all tiers of Pakistan’s judicial system, including the Supreme Court.
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PSX urges elimination of minimum tax on listed companies
Karachi, May 5, 2025 – The Pakistan Stock Exchange (PSX) has submitted a formal recommendation to the government for the upcoming federal budget 2025-26, calling for the removal of the minimum tax regime for listed companies.
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Pakistan’s petroleum sales surge 32% year-on-year in April 2025
Karachi, May 5, 2025 – Pakistan’s petroleum sector experienced a notable rebound in April 2025, with sales of petroleum products by Oil Marketing Companies (OMCs) reaching 1.46 million tons, marking a sharp 32% increase year-on-year (YoY) and a 20% rise month-on-month (MoM).
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Jewelers blast new tax ordinance, warn of growing crisis
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.
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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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