Karachi, June 23, 2025 — Pakistan’s banking sector has reached a historic benchmark, with total deposits climbing to an all-time high of Rs32.72 trillion by the end of May 2025, as per the latest data released by the State Bank of Pakistan (SBP). This milestone reflects continued public trust in the banking system, even amid a challenging economic environment.
(more…)Author: Shahnawaz Akhter
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PBC raises alarm over draconian powers proposed for FBR
Karachi, June 23, 2025 – The Pakistan Business Council (PBC) has strongly criticized the sweeping and excessive powers proposed to be granted to the Federal Board of Revenue (FBR) in the Finance Bill 2025, terming them “draconian” and detrimental to the investment climate in the country.
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FBR’s tax-to-GDP ratio remains in single digits for 24 years
Karachi, June 22, 2025 – The Federal Board of Revenue (FBR) has revealed a concerning trend in Pakistan’s fiscal performance, disclosing that the country’s tax-to-GDP ratio has remained in the single digits consistently from the fiscal year 2000-01 to 2023-24.
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All you need to know about Digital Presence Proceeds Tax Act
Islamabad, June 22, 2025 – The National Assembly Standing Committee on Finance and Revenue has formally endorsed the Digital Presence Proceeds Tax Act, 2025, a landmark legislation designed to tax proceeds generated from digital economic activities in Pakistan by non-resident entities. The new law, which is part of the Finance Bill 2025, is expected to come into force on July 1, 2025, pending final approval by the National Assembly.
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PYMA urges remove of yarn duty anomalies in Budget 2025-26
Karachi, June 22, 2025 – The Pakistan Yarn Merchants Association (PYMA) has called on the federal government to urgently address anomalies in the duty structure on yarn as outlined in the Budget 2025-26.
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Senate recommends enhancing limit for eligible transactions
Karachi, June 22, 2025 – The Senate of Pakistan has proposed significant changes to the Finance Bill, 2025, recommending a substantial increase in the threshold of financial resources required for certain transactions.
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Senate recommends amendments to FBR’s arrest powers
Islamabad, June 22, 2025 — The Senate of Pakistan has formally submitted a set of recommendations to the National Assembly, seeking crucial amendments to the arrest powers of Federal Board of Revenue (FBR) officers under the proposed Finance Bill, 2025.
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Senate proposes major relief on salary tax in Finance Bill 2025
Islamabad, June 21, 2025 — In a move aimed at providing relief to salaried individuals, the Senate of Pakistan has recommended increasing the tax exemption threshold on salary income from the existing Rs600,000 to Rs1.2 million per annum.
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FBR further extends deadline for mandatory electronic integration
Islamabad, June 21, 2025 — The Federal Board of Revenue (FBR) has once again extended the deadline for mandatory electronic integration of businesses into its centralized computerized system, in a continued effort to strengthen digital tax documentation and ensure comprehensive compliance.
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Port Qasim leads in five-year customs duty collection in Pakistan
Karachi, June 21, 2025 – In a comprehensive review of customs duty performance over the past five fiscal years, Port Qasim has emerged as the top contributor in Pakistan’s customs duty collection, highlighting its strategic importance in the country’s import landscape.
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