Karachi, June 20, 2025 – The Institute of Cost and Management Accountants of Pakistan (ICMAP) has urged the government to build up 90-day oil reserves as a strategic response to the ongoing Iran-Israel conflict, which has triggered serious concerns about regional energy security and economic stability.
(more…)Author: Shahnawaz Akhter
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FBR clarifies arrest powers proposed under Finance Bill 2025
Islamabad, June 20, 2025 — The Federal Board of Revenue (FBR) on Friday issued a detailed clarification regarding the arrest provisions proposed in the Finance Bill 2025, aiming to address widespread confusion and public concern over its interpretation.
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FBR collects Rs180 billion in regulatory duty during FY24
KARACHI, June 20, 2025 – The Federal Board of Revenue (FBR) has reported the collection of Rs180.54 billion in regulatory duty during the fiscal year 2023-24, marking a year-on-year increase of 4.3% compared to Rs173 billion in FY23.
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Sindh revises nomenclature for sales tax on services
KARACHI, June 20, 2025 – In a significant step toward modernization and standardization of tax regulations, the Sindh government has unveiled comprehensive changes to the nomenclature for sales tax on services under the Sindh Finance Bill, 2025.
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Pakistan’s rice export suffers 12% blow amid price crash, tax woes
Karachi, June 20, 2025 — Pakistan’s rice export sector is reeling from a severe setback as official data from the Pakistan Bureau of Statistics (PBS) shows a staggering 12% year-on-year decline in export earnings during the first 11 months (July–May) of FY2024-25.
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FBR reports 545% property transactions tax surge in half decade
KARACHI, June 20, 2025 – In a jaw-dropping revenue leap, the Federal Board of Revenue (FBR) has recorded an astonishing 545% increase in income tax collection from transactions involving immovable properties over the past five years — a figure that signals a dramatic shift in the taxation landscape.
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FPCCI explodes over taxmen’s shocking powers in FY26 budget
KARACHI, June 19, 2025 – In a scathing rebuke, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has rejected what it calls “draconian” powers granted to tax authorities under the Federal Budget 2025-26.
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Salaried class blasts Budget 2025-26: ‘Relief is a cruel joke’
KARACHI, June 19, 2025 – A firestorm of criticism erupted from Pakistan’s salaried class on Thursday after the federal government unveiled what many are calling a “mockery of relief” in the Budget 2025-26.
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Salary tax collection skyrockets 200% in five years: FBR
Karachi, June 19, 2025 – In a jaw-dropping revelation, the Federal Board of Revenue (FBR) has announced a stunning 200% surge in salary tax collection over the past five years, marking a historic rise in Pakistan’s direct tax landscape.
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Sugar export rises over 18 times amid 24% local price surge
Islamabad, June 19, 2025 – Pakistan witnessed an extraordinary rise in sugar export, which soared by a staggering 1,851% during the first eleven months (July–May) of fiscal year 2024-25, even as local sugar prices surged by 24%, putting a financial strain on domestic consumers.
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