Karachi, June 5, 2025 – Pakistan’s total foreign exchange (forex) reserves declined modestly to $16.598 billion for the week ending May 30, 2025, according to the latest data released by the State Bank of Pakistan (SBP) on Thursday.
(more…)Author: Shahnawaz Akhter
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ICMAP summarizes tax suggestions for June 10 Budget 2025–26
Karachi, June 5, 2025 – With the Federal Budget 2025–26 set to be unveiled on June 10, the Institute of Cost and Management Accountants of Pakistan (ICMAP) has reiterated its detailed tax policy proposals submitted earlier to the Federal Board of Revenue (FBR).
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FBR rejects all leave requests ahead of FY26 Budget presentation
Islamabad, June 5, 2025 – The Federal Board of Revenue (FBR) has issued strict directives rejecting all leave applications submitted by officials of the Inland Revenue Service (IRS), as the government prepares to present the federal budget for the fiscal year 2025-26.
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FBR recovers over Rs5 billion in major tax case against K-Electric
Karachi, June 5, 2025 – The Federal Board of Revenue (FBR) has successfully recovered over Rs5 billion from K-Electric, following a major court ruling on a long-standing tax dispute. This recovery comes after a legal battle over the application of minimum tax provisions under Section 113 of the Income Tax Ordinance, 2001.
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Engro Fertilizers announces unscheduled shutdown of EnVen plant
Karachi, June 5, 2025 – Engro Fertilizers Limited, one of Pakistan’s leading fertilizer manufacturers, has announced an unscheduled shutdown of its EnVen plant due to maintenance requirements.
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FBR shares key tax operations data with IMF under EFF monitoring
Islamabad, June 4, 2025 – The Federal Board of Revenue (FBR) continues to provide detailed data on tax operations to the International Monetary Fund (IMF) as part of ongoing commitments under the Extended Fund Facility (EFF).
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New framework proposed to tax digital platforms in Pakistan
Islamabad, June 4, 2025 – A new framework has been put forward to bring digital platforms in Pakistan under the tax net. This proposal, presented by the Institute of Chartered Accountants of Pakistan (ICAP), is part of the country’s upcoming 2025–26 budget suggestions.
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Pakistan reports 26% YoY surge in trade deficit in May 2025
Islamabad, June 4, 2025 – Pakistan has reported that trade deficit rose sharply by 26% year-on-year in May 2025, mainly due to a notable decline in exports.
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Confusion over stock declaration halts sales tax filing: PCDMA
Karachi, June 4, 2025 – The Pakistan Chemical and Dyes Merchants Association (PCDMA) has raised serious concerns about difficulties faced by traders in filing their sales tax returns, following a new requirement introduced by the Federal Board of Revenue (FBR).
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KSE-100 Index continues rally, reaches new high of 121,799 points
Karachi, June 4, 2025 – The Pakistan Stock Exchange (PSX) witnessed another strong session on Wednesday, as the benchmark KSE-100 Index continued its upward trajectory and closed at a new all-time high of 121,799 points.
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