The Lahore Chamber of Commerce and Industry (LCCI) has called for a significant reduction in taxes on the real estate sector to stimulate growth in the construction industry and attract both local and foreign investments. Recognizing the sector’s vital role in driving economic activity, the LCCI organized a seminar titled “Real Estate Taxation” on Wednesday to address the challenges faced by the industry and propose practical solutions.
(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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KCCI Criticizes KE for Escalating Load Shedding in Karachi
Karachi, January 15, 2025 – Muhammad Jawed Bilwani, President of the Karachi Chamber of Commerce and Industry (KCCI), has strongly condemned K-Electric (KE) for its recent intensification of load shedding, which is severely affecting both the residents and businesses of Karachi.
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Pakistan to Extend Regulatory Duty on Steel Products
ISLAMABAD: The government of Pakistan is set to extend the regulatory duty on steel products for an additional three months, according to reliable sources. This decision comes in light of recommendations made by the Tariff Policy Board (TPB) to sustain support for the domestic steel industry.
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PBC Criticizes Termination of Transit Cargo Satellite Tracking
Karachi, January 9, 2025 – The Pakistan Business Council (PBC) has raised serious concerns regarding the Federal Board of Revenue’s (FBR) decision to terminate satellite tracking of transit cargo containers destined for Afghanistan. In a detailed letter addressed to the FBR chairman, the PBC highlighted the potential risks and adverse consequences of this policy change.
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Commerce Ministry Sets Deadline for Budget Proposals 2025-26
Islamabad, January 8, 2025 – The Ministry of Commerce has announced a deadline for submitting tariff-related budget proposals for the fiscal year 2025-26. Stakeholders have been invited to provide their input by February 15, 2025, to ensure their suggestions are considered during the preparation of Pakistan’s upcoming federal budget.
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PTA Urges Zero-Rated Tax Regime for Leather Sector
KARACHI: The Pakistan Tanners Association (PTA) leadership, including Chairman Hamid Zahur and Vice Chairman Danish Aman, held a comprehensive discussion with Ahsan Iqbal, Federal Minister for Planning, Development, Special Initiatives, and Inter-Provincial Coordination. The meeting, held at PTA’s office, focused on key issues confronting the leather sector.
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ABAD Seeks Tax Reforms to Revive Real Estate
The Association of Builders and Developers of Pakistan (ABAD) has called on the government to abolish the 3% Federal Excise Duty (FED) imposed on the housing sector to stimulate its revival. The organization stressed that this move is essential for addressing the ongoing challenges in the real estate market and boosting economic growth.
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Pakistan’s Exports Surge by 10.52% in 1HFY25
Islamabad, January 1, 2025 – Pakistan’s exports witnessed a remarkable growth of 10.52% during the first half (July–December) of the current fiscal year 2024-25, according to trade data released by the Pakistan Bureau of Statistics (PBS) on Wednesday.
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Steel Industry Urges End to Unfair Tax Exemptions for NMDs
The Pakistan Association of Large Steel Producers (PALSP) has called upon the government to immediately withdraw the tax exemptions granted to industrial units in the former tribal areas (now merged districts or NMDs). According to PALSP, these exemptions are being widely misused, causing severe harm to the local tax-paying industries in Pakistan.
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Alibaba Empowers Pakistan’s SMEs to Access Global Markets
ISLAMABAD: Alibaba, a leading global business-to-business (B2B) e-commerce platform, has announced the launch of its Trade Assurance service in Pakistan, aimed at enabling local small and medium-sized enterprises (SMEs) to trade with greater confidence on the international stage. With this launch, Pakistan joins a select group of markets where Alibaba offers this valuable service to suppliers.
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