LAHORE, May 13, 2025 — The Lahore Chamber of Commerce and Industry (LCCI) has strongly urged the Federal Board of Revenue (FBR) to withdraw two recently issued statutory regulatory orders (SROs) — SRO 578(I)/2025 and SRO 709(I)/2025 — which have sparked serious concern within the cement distribution sector.
(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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Russia to establish new steel mill in Karachi to boost bilateral ties
Islamabad, May 13, 2025 — In a significant step toward enhancing economic cooperation, Russia and Pakistan have agreed to establish a new steel mill in Karachi, reinforcing their growing bilateral relationship.
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Pakistan set to begin mango exports for 2025 season on May 25
Islamabad, May 13, 2025 — Pakistan is gearing up to begin its mango exports for the 2025 season on May 25, as announced by the Ministry of Commerce.
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Pakistan may abolish sales tax on cotton in 2025-26 budget
Islamabad, May 13, 2025 — The government of Pakistan is considering a significant tax reform by planning to abolish the 18% sales tax on locally produced cotton in the upcoming federal budget for 2025-26.
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SAI urges withdrawal of Tax Laws (Amendment) Ordinance 2025
Karachi, May 10, 2025 — The SITE Association of Industry (SAI) has issued a strong appeal to Prime Minister Shehbaz Sharif, demanding the urgent withdrawal of the recently promulgated Tax Laws (Amendment) Ordinance 2025, warning that the new legislation poses a significant threat to both economic stability and constitutional norms.
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Foreign tobacco giants urge Aurangzeb to reform duty structure
Islamabad, May 9, 2025 – Major international tobacco companies have urged Finance Minister Muhammad Aurangzeb to reform Pakistan’s excise duty framework in order to combat illicit trade, increase tax revenue, and stabilize the formal tobacco sector.
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OICCI advocates broadening tax base to achieve 15% tax-to-GDP
ISLAMABAD, May 9, 2025 — The Overseas Investors Chamber of Commerce and Industry (OICCI) has urged the government to prioritize broadening the tax base in the upcoming budget for FY2025-26, stating that this is essential to achieving a sustainable tax-to-GDP ratio of 15%.
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OICCI recommends gradual phasing out of minimum turnover tax
Karachi, May 9, 2025 – The Overseas Investors Chamber of Commerce and Industry (OICCI) has proposed a structured, three-year phase-out of the minimum turnover tax, citing its detrimental impact on businesses operating on slim profit margins.
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Foreign investors demand abolition of super tax in FY26 budget
Karachi, May 9, 2025 – A strong call has emerged from the foreign business community in Pakistan, urging the government to abolish the super tax in the upcoming federal budget for 2025–26.
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SECP registers 2,956 new companies in April 2025
Islamabad, May 9, 2025 — The Securities and Exchange Commission of Pakistan (SECP) has reported a significant boost in corporate activity, with the registration of 2,956 new companies during April 2025.
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