Karachi, July 26, 2025 – Collector Customs (Enforcement), Karachi, Moinuddin Wani, has clearly stated that holding illegal goods is considered smuggling under the law. Speaking to the Karachi Chamber of Commerce and Industry (KCCI), he said: “If a trader is found with undeclared or illegally imported items, it falls under smuggling.”
(more…)Author: Shahnawaz Akhter
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FBR Drops You from Active Taxpayers List: Here’s Why
If you’ve recently noticed your name missing from the FBR’s Active Taxpayers List (ATL), you’re not alone—and you need to act fast! The Federal Board of Revenue (FBR) is now updating the ATL daily, which means your status can change anytime based on your tax compliance.
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FBR jolts fertilizer sector by revoking tax exemption certificate
Karachi, July 25, 2025 – In a move that has sent shockwaves across Pakistan’s fertilizer industry, the Federal Board of Revenue (FBR) has abruptly revoked a crucial tax exemption certificate previously granted to Engro Fertilizer Limited, one of the sector’s top players.
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KSE-100 index rebounds with 515-point gain
Karachi, July 25, 2025 – The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) witnessed a strong recovery on Friday, surging by 515 points after two consecutive sessions of sluggish trading. The index closed at 139,207 points, up from the previous day’s close of 138,692, reflecting a gain of 0.37 percent.
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SBP directs banks to open accounts within two days
Karachi, July 25, 2025 – The State Bank of Pakistan (SBP) has issued comprehensive instructions to banks and regulated entities (REs), mandating that the account opening process for the general public be completed within two working days.
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Weekly SPI Inflation Rises Sharply by 4.07%
Islamabad, July 25, 2025 – Pakistan’s weekly inflation, measured through the Sensitive Price Indicator (SPI), recorded a sharp increase of 4.07% for the week ending July 24, 2025, compared to the previous week, according to the Pakistan Bureau of Statistics (PBS).
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Business community urges SBP for major policy rate cut
Karachi, July 25, 2025 – The business community has strongly urged the State Bank of Pakistan (SBP) to introduce a significant reduction in the policy rate during the upcoming Monetary Policy Committee (MPC) meeting scheduled for July 30, 2025.
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SBP likely to cut policy rate to 10.5% on July 30
Karachi, July 25, 2025 – The State Bank of Pakistan (SBP) is expected to reduce the policy rate by 50 basis points to 10.5% in its upcoming monetary policy announcement on July 30, 2025.
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Punjab directs three major sectors to withhold 80% tax on services
Lahore, July 25, 2025 – The government of Punjab has introduced a major revision in its tax policy, making it mandatory for three key sectors to withhold up to 80% of sales tax on services at the time of payment to service providers.
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NCCPL to Collect June CGT on July 31, 2025
Karachi, July 25, 2025 – The National Clearing Company of Pakistan Limited (NCCPL) has officially announced that Capital Gain Tax (CGT) for the month of June 2025 will be collected on Thursday, July 31, 2025.
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