Karachi, January 23, 2025 – The Pakistan Tax Bar Association (PTBA) has voiced profound apprehension over the rejection of security clearances for foreign investors. The association has formally reached out to Syed Mohsin Raza Naqvi, Federal Minister for Interior, highlighting the challenges these decisions pose to the country’s investment landscape.
(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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KATI Advocates Cut in Withholding Tax on Property Transactions
Karachi, January 22, 2025 – The Korangi Association of Trade and Industry (KATI) has strongly advocated for a reduction in withholding tax on property transactions to revitalize Pakistan’s struggling construction and housing sector.
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KCCI Urges Business Friendly Strategic Trade Policy Framework
KARACHI: The Karachi Chamber of Commerce & Industry (KCCI) and the Pakistan Hosiery Manufacturers Association (PHMA) have jointly called on the government to draft a pro-business Strategic Trade Policy Framework (STPF) and Textile & Apparel Policy for the next five years. They emphasized that these policies must include actionable and realistic measures, avoiding the shortcomings of the 2020-25 policies, which failed to deliver on many of their promises.
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Pakistan’s Textile Exports Surpass $9 Billion in 1HFY25
Karachi, January 20, 2025 – Pakistan’s textile sector has achieved a significant milestone, recording over $9 billion in export earnings during the first half (July–December) of the current fiscal year 2024-25.
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FPCCI Expresses Concerns on Alarming Drop in Cotton Production
Karachi, January 18, 2025 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has raised serious concerns over the drastic decline in cotton production, warning of its potential impact on the economy, especially the country’s textile exports.
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LCCI Pushes for Real Estate Tax Reforms
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.
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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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