Karachi, June 9, 2023 – Irfan Iqbal Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), representing the entire business community, expressed concern over the federal budget 2023-24, stating that it presents an unrealistic picture of the economy. The business community is particularly interested in uncovering any hidden taxes within the budget.
(more…)Category: Trade & Industry
This section covers news on trade and industry. Pakistan Revenue is committed to providing the latest updates on business trends.
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Pakistan Economic Survey 2022-23: Restrictions Impede Manufacturing Growth
Islamabad, June 8, 2023: According to the Pakistan Economic Survey 2022-23, the manufacturing sector has faced significant setbacks due to the impact of high interest rates, import restrictions, and the global economic slowdown.
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Inflation Leads to Drastic Decrease in Customer Numbers, Shopkeepers Express Concerns
Karachi, June 7, 2023 – Shopkeepers in Karachi have reported a significant decline in customer numbers due to the alarming levels of inflation.
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Tobacco Farmers Demand Relief as Government’s Policies Plunge Them into Crisis
Tobacco farmers in Pakistan are up in arms against what they perceive as the government’s unfair policies, as the recent increase in federal excise duty (FED) on cigarettes has pushed them into a deep crisis.
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Karachi Logistic Enterprise to Export Mangoes to Xinjiang via Land Route
Sadequain Shipping Line, a logistics company based in Karachi, is set to transport Pakistani mangoes to the Xinjiang Uyghur Autonomous Region in China through a land route later this month.
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SMEDA Invites UNISAME to Address Dollar Shortage Faced by SME Importers
Karachi, June 6, 2023: The Small and Medium Enterprises Development Authority (SMEDA) has extended an invitation to the Union of Small and Medium Enterprises (UNISAME) to discuss the pressing issues faced by SME importers due to the unavailability of dollars. The meeting is scheduled to take place on June 7 at SMEDA’s provincial office in Karachi.
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Pakistan Urged to Implement Urgent Measures to Stem Foreign Currency Outflow
In a bid to address the escalating issue of illegal transfer of foreign currencies outside Pakistan, the Pakistan Hotels Association has submitted proposals for the budget of 2023-2024.
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FPCCI Proposes Dollar Amnesty Scheme to End Exchange Rate Volatility
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recently put forward a recommendation for a dollar amnesty scheme to address the issue of exchange rate volatility in the country.
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Foreign Investors Warn Pakistan of Negative Impact on Formal Sector with New Taxes
Islamabad: Foreign investors have advised Pakistan to refrain from introducing new taxes in the forthcoming budget for 2023-24, expressing concerns over the potential negative impact on the country’s formal business sector.
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PAFLA Calls for Removal of Tax Burden on Freelancers
Pakistan Freelancers Association (PAFLA) has submitted a budget proposal to the government, calling for the abolition of taxes on freelancers’ income to support Pakistan’s booming freelancing industry and encourage foreign exchange earnings.
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