Karachi, April 23, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has recommended a critical reform in the country’s tax structure by suggesting changes to the existing definition of a withholding agent.
(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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PCDMA Seeks FTR Revival, Relief for Commercial Importers
Karachi, April 22, 2025 – The Pakistan Chemicals & Dyes Merchants Association (PCDMA) has submitted a detailed set of tax proposals for the upcoming 2025–26 federal budget, urging the Federal Board of Revenue (FBR) to revive the Final Tax Regime (FTR) specifically for commercial importers. The association emphasized that restoring this system would provide much-needed relief, simplify taxation, and strengthen trust between the government and the business community.
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Engro Fertilizers reports 63% decline in profit for 1QCY2025
Karachi, April 22, 2025 – Engro Fertilizers (EFERT), one of Pakistan’s leading fertilizer producers, reported a steep 63% year-on-year decline in its after-tax profit for the first quarter of calendar year 2025.
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SAI Sounds Alarm on Export Losses Amid Severe Water Crisis
Karachi, April 21, 2025 – The SITE Association of Industry (SAI) has raised serious concerns over the intensifying water shortage in Karachi’s SITE Industrial Area, warning of dire consequences for Pakistan’s exports and industrial sustainability.
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Taxpayers Declared Inactive Despite Deadline Extension: KCCI
Karachi, April 21, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has strongly criticized the Federal Board of Revenue (FBR) for declaring numerous taxpayers inactive, even after officially extending the deadline for filing sales tax returns for February and March 2025.
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KCCI Pushes to Scrap Minimum WHT on Imports
Karachi, April 21, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has strongly urged the Federal Board of Revenue (FBR) to abolish the Minimum Withholding Tax (WHT) on raw material imports by commercial importers in the upcoming federal budget for 2025-26.
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Philip Morris Pakistan Denies Irregular Share Price Activity
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.
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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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