Karachi, April 21, 2025 – Philip Morris (Pakistan) Limited has issued a formal response to the Pakistan Stock Exchange (PSX), denying any unusual or unexplained movement in the trading price or volume of its shares. The clarification came after PSX issued a notice regarding significant fluctuations observed in the company’s stock over recent sessions.
(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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Karachi Chamber Suggests Revival of FTR to Boost Export Sector
Karachi, April 20, 2025 — The Karachi Chamber of Commerce and Industry (KCCI) has strongly recommended the government to revive the Final Tax Regime (FTR) for the export sector in its budget proposals for the fiscal year 2025–26.
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Nationwide Transporters Strike Halts $20 Million in Rice Exports
Karachi, April 19, 2025 – A nationwide strike by goods transporters has severely disrupted Pakistan’s export sector, bringing the movement of key commodities—especially rice—to a grinding halt. The five-day strike has caused an estimated $20 million loss in rice exports alone, sparking alarm among exporters and industry leaders.
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Tribunal Upholds CCP Order in Karachi Nimco Deception Case
The Competition Appellate Tribunal (CAT) has dismissed the appeal filed by M/s Karachi Nimco, confirming a penalty of Rs20 million imposed by the Competition Commission of Pakistan (CCP) for deceptive marketing practices and trademark imitation.
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KCCI Urges Prime Minister to End Prolonged Transporters’ Strike
Karachi, April 18, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has issued a pressing call for immediate intervention by Prime Minister Shehbaz Sharif to resolve the ongoing nationwide strike by transporters, which has entered its fourth consecutive day.
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Pakistan Exports Sugar Worth $407 Million, Locals Pay More
Islamabad, April 18, 2025 – Pakistan has exported sugar worth $407 million during the first nine months (July to March) of the fiscal year 2024-25, marking a massive increase driven by rising international demand and favorable pricing.
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KCCI Urges Waiver of Factory Visit for Tax Exemption Certificates
Karachi, April 18, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has strongly recommended that the Federal Board of Revenue (FBR) waive mandatory factory visits for the issuance of income tax exemption certificates, citing disruptions to business operations and inefficiencies caused by the current procedures.
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PSX Probes Philip Morris Over Share Price Spike
Karachi, April 18, 2025 – The Pakistan Stock Exchange (PSX) has formally issued a notice to Philip Morris (Pakistan) Limited, seeking clarification regarding an unusual movement observed in the company’s share price over the recent trading sessions.
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Pakistan’s Textile Exports Rise by 9.38% in 9MFY25
Islamabad, April 17, 2025 – Pakistan’s textile exports witnessed a promising increase of 9.38% during the first nine months (July–March) of the current fiscal year (9MFY25), according to data released by the Pakistan Bureau of Statistics (PBS) on Thursday.
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KCCI Urges Tax Relief for Foreign Exchange-Earning Businesses
Karachi, April 17, 2025 — The Karachi Chamber of Commerce and Industry (KCCI) has called on the government to exempt foreign exchange-earning businesses from provincial taxation, aiming to promote economic stability and protect vital inflows into Pakistan’s economy.
In its comprehensive tax proposals for the 2025–26 budget, the KCCI highlighted a critical concern: businesses that generate foreign exchange—such as Indenting Agents, Buying Houses, and similar service-oriented operations—are already subject to federal taxation. Since foreign exchange earnings directly influence Pakistan’s national reserves and macroeconomic policies, they are traditionally governed by federal laws. However, KCCI emphasized that some provincial authorities have also started imposing taxes on the same income, creating jurisdictional overlaps and undermining the principle of unified taxation.
The KCCI warned that this dual taxation structure discourages businesses from bringing their foreign exchange earnings into the country. “Over-taxation increases the operational burden and disincentivizes the repatriation of valuable foreign exchange into Pakistan, thereby weakening our external account position,” stated a KCCI spokesperson.
Moreover, the KCCI pointed out that high tax liabilities at both federal and provincial levels reduce business competitiveness, especially when compared to regional players operating under more favorable regimes. Businesses may opt to park their foreign exchange earnings offshore, reducing liquidity in the domestic market and putting further pressure on Pakistan’s already strained foreign exchange reserves.
To address these challenges, the KCCI has proposed a targeted exemption from provincial taxes for businesses that earn and remit foreign exchange into Pakistan. The Chamber stressed that such a measure would reduce tax overlap, enhance the ease of doing business, and encourage compliance.
“The objective is to build a transparent and business-friendly framework that encourages entrepreneurs to keep their foreign exchange earnings within Pakistan,” the KCCI noted. “This will not only support a stable exchange rate but also help boost investor confidence.”
By aligning tax policies with national economic goals, the KCCI believes the government can create a more predictable and growth-oriented environment for foreign exchange-generating enterprises.