Karachi, May 9, 2025 – The Overseas Investors Chamber of Commerce and Industry (OICCI) has proposed a structured, three-year phase-out of the minimum turnover tax, citing its detrimental impact on businesses operating on slim profit margins.
(more…)Author: Shahnawaz Akhter
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Foreign investors demand abolition of super tax in FY26 budget
Karachi, May 9, 2025 – A strong call has emerged from the foreign business community in Pakistan, urging the government to abolish the super tax in the upcoming federal budget for 2025–26.
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KSE-100 suffers historic crash, plunges 6,482 points in single day
Karachi, May 8, 2025 — The KSE-100 index, the benchmark of the Pakistan Stock Exchange (PSX), witnessed its worst-ever single-day decline on Thursday, crashing by an unprecedented 6,482 points amid escalating tensions with India.
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SAPM reassures KCCI of full support for Karachi’s industrial revival
Karachi, May 8, 2025 — Special Assistant to the Prime Minister (SAPM) Haroon Akhtar Khan held a detailed virtual meeting with the leadership of the Karachi Chamber of Commerce and Industry (KCCI) via Zoom.
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FBR imposes major penalty on female IRS officer (BS-18)
Islamabad, May 8, 2025 – The Federal Board of Revenue (FBR) has imposed a major penalty on Ms. Kiran Zahra, a BS-18 officer of the Inland Revenue Service (IRS), following disciplinary proceedings related to her prolonged unauthorized absence from duty.
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SBP invites applications for primary dealers for FY 2025–26
Karachi, May 8, 2025 – The State Bank of Pakistan (SBP) has officially invited applications from eligible financial institutions for selection as primary dealers for the fiscal year 2025–26. The announcement, made on Thursday, aims to appoint qualified institutions to facilitate government securities transactions under its Primary Dealer System.
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PSX crashes by 6.32% in midday trading amid new Indian strikes
Karachi, May 8, 2025 – The Pakistan Stock Exchange (PSX) experienced a dramatic crash of 6.32% during midday trading on Thursday following reports that India launched a series of drone strikes across multiple Pakistani cities overnight. The news triggered widespread panic among investors, resulting in the PSX hitting its lower lock and forcing a temporary suspension of trading.
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Pakistan’s 9MFY25 budget deficit narrows 2.4% on strong revenue
Islamabad, May 7, 2025 — Pakistan’s fiscal indicators showed notable improvement during the first nine months of the ongoing fiscal year (July–March FY2024-25), as the federal budget deficit shrank to 2.4% of GDP, down significantly from 3.7% recorded during the same period last year. The Ministry of Finance released these figures on Wednesday, attributing the fiscal improvement to a surge in both tax and non-tax revenues.
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FBR seals famous jewelry shop in Karachi over POS violation
Karachi, May 7, 2025 – In a decisive move to tighten regulatory control over the gold trade, the Federal Board of Revenue (FBR) on Wednesday sealed a prominent jewelry shop located on Karachi’s Tariq Road for failing to comply with Point of Sale (POS) integration requirements.
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PSX plummets by 3,559 points amid rising Pakistan-India tensions
Karachi, May 7, 2025 – The Pakistan Stock Exchange (PSX) witnessed a sharp nosedive on Wednesday, shedding 3,559 points, or 3.13% on a day-on-day basis, as investors reacted to rising tensions between Pakistan and India.
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