Karachi, April 9, 2025 – The Pakistan Stock Exchange (PSX) witnessed a sharp downturn on Wednesday as the benchmark KSE-100 index plunged over 2,000 points during mid-morning trade, reflecting heightened selling pressure across key sectors.
(more…)Author: Shahnawaz Akhter
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KCCI Proposes Using Electricity Data to Broaden Tax Base
Karachi, April 9, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has urged the government to adopt a data-driven strategy for tax broadening by utilizing electricity consumption records to identify potential taxpayers.
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Divago Outlet De-sealed After Tax Compliance
Karachi, April 8, 2025 – Divago, a prominent pharmacy retail chain in Pakistan, announced that one of its outlets, previously sealed by the Federal Board of Revenue (FBR), has now been de-sealed after the company addressed the required tax compliance issues.
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IR Inspector Removed from Service Over Unauthorized Absence
Karachi, April 8, 2025 – The Federal Board of Revenue (FBR) has imposed a major penalty of removal from service on Arshad Ali Nasir, an Inspector Inland Revenue (BS-16) posted at Regional Tax Office (RTO-I) Karachi, for his prolonged unauthorized absence from duty.
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KTBA Suggests Hybrid Refunds, Flags FIFO Method Flaws
Karachi, April 8, 2025 – The Karachi Tax Bar Association (KTBA) has urged the Federal Board of Revenue (FBR) to adopt a hybrid approach for the issuance of refunds, emphasizing the need to prioritize time-bound claims, verified applications, and sector-specific urgencies.
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FBR Links Sugar Sales Tax to Retail Price
Islamabad, April 8, 2025 — In a significant policy shift, the Federal Board of Revenue (FBR) has issued new criteria for the assessment of sales tax on sugar supplies across the country.
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NRL Discovers Significant Copper-Gold Deposit in Balochistan
Karachi, April 8, 2025 — Fatima Fertilizer Company Limited has announced a major milestone in Pakistan’s mining sector: a significant discovery of copper-gold mineralization in Balochistan by its joint venture, M/s. National Resources (Private) Limited (NRL).
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MTO Karachi Seals Divago Outlet for POS Non-Compliance
Karachi, April 8, 2025 – In a decisive move to enforce tax regulations, the Medium Tax Office (MTO Karachi) has sealed an outlet of Divago, a prominent pharmacy chain in Pakistan, due to its failure to integrate its Point of Sale (POS) system with the Federal Board of Revenue (FBR).
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SAI Demands End to Discriminatory Electricity Tariff in Karachi
Karachi, April 7, 2025 – The SITE Association of Industry (SAI) has strongly urged the federal government to eliminate the long-standing disparity in electricity tariffs between Karachi and other cities.
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PSX Market Crash: Losses Trimmed to 3.27% After Lower Lock
Karachi, April 7, 2025 – The Pakistan Stock Exchange (PSX) witnessed an intense selloff on Monday, with the market initially hitting the lower lock limit, falling more than 5%.
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