Author: Faisal Shahnawaz

  • JS Bank boosts stake in TRG Pakistan amid company’s widening losses

    JS Bank boosts stake in TRG Pakistan amid company’s widening losses

    JS Bank raises combined holding in TRG Pakistan to over 29% after acquiring additional shares through enforcement of security.

    JS Bank Limited has increased its shareholding in TRG Pakistan Limited to more than 29% after acquiring nearly 15% additional shares at Rs62.92 per share, according to information disclosed to the Pakistan Stock Exchange on Friday.

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  • Bitcoin slips against US dollar on May 29, 2026

    Bitcoin slips against US dollar on May 29, 2026

    Bitcoin posts modest recovery after recent declines but remains under pressure amid continued crypto market volatility.

    Bitcoin recorded a slight recovery against the U.S. dollar on Friday after posting consecutive declines in previous trading sessions.

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  • PSX seeks major tax cuts, investor incentives in FY27 budget

    PSX seeks major tax cuts, investor incentives in FY27 budget

    Stock exchange proposes lower corporate taxes, restored incentives and removal of withholding taxes to boost listings and market growth.

    The Pakistan Stock Exchange (PSX) has proposed a series of tax relief measures and investor-friendly reforms in the federal budget 2026-27 (FY27) aimed at strengthening capital markets, encouraging new listings and improving overall investment activity.

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  • ICAP seeks clarity on builders, developers taxation under Section 7F

    ICAP seeks clarity on builders, developers taxation under Section 7F

    Chartered accountants’ body calls for clearer rules and alignment of advance tax mechanism for builders and developers.

    The Institute of Chartered Accountants of Pakistan (ICAP) has proposed amendments relating to taxation of builders and developers under Section 7F of the Income Tax Ordinance, 2001, in its budget proposals for 2026-27.

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  • ICAP proposes prior notice before FBR enters business premises

    ICAP proposes prior notice before FBR enters business premises

    Chartered accountants’ body seeks mandatory 48-hour notice and transparent audit selection to protect taxpayer rights.

    The Institute of Chartered Accountants of Pakistan (ICAP) has proposed that tax authorities should be required to issue prior notice before entering taxpayers’ business premises for audit and monitoring purposes.

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  • ICAP seeks higher cash withdrawal tax threshold in Budget 2026-27

    ICAP seeks higher cash withdrawal tax threshold in Budget 2026-27

    Chartered accountants’ body proposes raising daily cash withdrawal limit to Rs75,000 for non-filers amid inflation and higher business cash-flow needs.

    The Institute of Chartered Accountants of Pakistan has proposed increasing the daily cash withdrawal threshold for withholding tax collection in the federal budget for fiscal year 2026-27.

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  • ICAP urges inflation-linked salary tax relief in Budget 2026-27

    ICAP urges inflation-linked salary tax relief in Budget 2026-27

    Chartered accountants’ body proposes CPI-based adjustment of salary tax slabs to ease burden on salaried class amid persistent inflation.

    The Institute of Chartered Accountants of Pakistan has proposed linking salary tax slabs with Consumer Price Index (CPI) inflation in the federal budget 2026-27 to reduce the growing tax burden on salaried individuals.

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  • IMF seeks detailed data on pending tax refunds from FBR

    IMF seeks detailed data on pending tax refunds from FBR

    IMF asks Pakistan’s tax authority to provide comprehensive information on refund arrears to improve transparency and ease business liquidity pressures.

    The International Monetary Fund has asked the Federal Board of Revenue to provide detailed information on pending tax refund claims as part of ongoing efforts to address liquidity pressures faced by businesses in Pakistan.

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  • West Indies to host Pakistan for two-Test series in July-August

    West Indies to host Pakistan for two-Test series in July-August

    Pakistan to play two ICC World Test Championship matches in Trinidad and Tobago during Caribbean tour.

    West Indies cricket team has confirmed its home international schedule featuring series against Pakistan national cricket team, Sri Lanka national cricket team and New Zealand national cricket team across all formats later this year.

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  • Rybakina, Paolini crash out as Swiatek and Djokovic march on at French Open

    Rybakina, Paolini crash out as Swiatek and Djokovic march on at French Open

    Four-time champion Iga Swiatek and Novak Djokovic reach French Open third round as Elena Rybakina and Jasmine Paolini suffer surprise exits.

    Iga Swiatek and Novak Djokovic advanced comfortably to the third round of the French Open on Wednesday, while women’s second seed Elena Rybakina and 13th seed Jasmine Paolini suffered shock defeats in Paris.

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