Cryptocurrency posts weekly losses of over 16% as investor sentiment remains under pressure
June 5, 2026 — Bitcoin slipped below the $62,000 mark on Friday, extending a week-long sell-off that has erased more than $11,800 from the value of the world’s largest cryptocurrency.
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Pilot project aims to create a faceless, AI-powered tax administration system to enhance transparency, compliance and revenue collection
Prime Minister Shehbaz Sharif on Thursday directed authorities to launch a pilot phase of an Artificial Intelligence (AI)-driven automated tax system in Islamabad as part of the government’s efforts to modernise tax administration, improve compliance and strengthen revenue collection.
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Economic Survey to be released on June 9 ahead of federal budget presentation in National Assembly on June 10
Finance Minister Senator Muhammad Aurangzeb will present the Pakistan Economic Survey 2025-26 on June 9, a day before unveiling the federal budget for fiscal year 2026-27, according to an announcement made on Thursday.
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Central bank reserves edge higher to $17.19 billion, while overall liquid reserves decline slightly due to lower commercial bank holdings
KARACHI, June 4, 2026 — Pakistan’s official foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $43 million during the week ended May 29, 2026, according to data released by the central bank on Thursday.
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Shaheen Afridi stars as Pakistan clinches third consecutive ODI series victory over Australia with 2-1 triumph
Pakistan sealed a 2-1 One-Day International (ODI) series victory over Australia on Thursday, extending their dominance over the visitors by securing a third consecutive ODI series win against the former world champions.
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Government weighs capital gains, transaction and holdings-based taxation as digital assets move toward formal regulatory framework
ISLAMABAD, June 4, 2026 — Pakistan is preparing to introduce a formal tax and regulatory framework for cryptocurrency transactions as part of the federal budget 2026–27, in what would mark one of the country’s first structured attempts to bring digital assets into the tax net.
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State-run energy firm reports sharp rise in indigenous production as new wells add over 9,700 barrels of oil and 74 MMSCFD gas
ISLAMABAD, June 4, 2026 — The Oil and Gas Development Company Limited (Oil and Gas Development Company Limited) has brought 11 new wells into production across Sindh, Khyber Pakhtunkhwa, Punjab and Balochistan during the first 10 months of FY2025–26, significantly increasing indigenous oil and gas output.
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FBR converts proposed major penalty into minor disciplinary action, reinstates officer with conditions
ISLAMABAD, June 4, 2026 — The Federal Board of Revenue (FBR) has cleared a Pakistan Customs inspector posted in Lahore in a corruption-related disciplinary case, converting a previously recommended major penalty into a minor punishment after departmental review.
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Chartered accountants call for reforms in utility tax collection system, citing misclassification and compliance issues in FY2026-27 proposals
ISLAMABAD, June 4, 2026 — The Institute of Chartered Accountants of Pakistan (ICAP) has urged the government to review the mechanism for collecting additional sales tax through electricity and gas bills, arguing that the current system is creating undue tax burdens for registered and exempt entities.
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Chartered accountants propose 10-year tax stability and incentives for export-oriented foreign investors in FY2026-27 budget
The institute recommended the creation of a separate tax schedule specifically designed for foreign direct investment in export-led manufacturing sectors. Under the proposed framework, qualifying investors would receive a package of tax incentives, legal protections and clearly defined eligibility criteria aimed at encouraging long-term investment commitments.
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