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.
(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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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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PCDMA Urges FBR to Resolve Port Congestion Issues Promptly
Karachi, December 21, 2024 – The Pakistan Chemicals & Dyes Merchants Association (PCDMA) has voiced grave concerns over the escalating backlog of consignments at the nation’s ports, citing insufficient administrative capacity under the recently implemented Faceless Customs Clearance Assessment system, part of the Federal Board of Revenue’s (FBR) Transformation Plan.
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KCCI Raises Alarm Over Mounting Consignment Backlog at Ports
KARACHI: The Karachi Chamber of Commerce & Industry (KCCI) has raised serious concerns over the burgeoning backlog of consignments at the nation’s ports, with KCCI President Muhammad Jawed Bilwani calling for urgent intervention to prevent mounting demurrage and detention costs that are weighing heavily on the business community.
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KCCI Urges PM to Reject OGRA’s Proposed Gas Tariff Hike
KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has strongly appealed to Prime Minister Shehbaz Sharif to reject the Oil and Gas Regulatory Authority’s (OGRA) proposed increase in gas tariffs.
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Attock Cement Parent Company Explores Strategic Sale Options
Karachi, December 18, 2024 – M/s. Pharaon Investment Group Limited (Holding) S.A.L., Lebanon, the parent company of Attock Cement Pakistan Limited, has announced plans to re-evaluate its long-term strategic options regarding its investment in Pakistan’s cement sector. This includes the possibility of selling its stakes in Attock Cement.
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