Karachi, October 2, 2024 – The President of the Karachi Chamber of Commerce and Industry (KCCI), Muhammad Jawed Bilwani, voiced strong concerns on Wednesday over the government’s decision to suspend gas supply to Captive Power Plants (CPPs) by 2025.
(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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Pakistan Achieves Over 14% Export Growth in First Quarter of FY25
Islamabad, October 2, 2024 – Pakistan has reported an impressive 14.11% growth in exports during the first quarter of the fiscal year 2024-25 (1QFY25), a significant indicator of the country’s economic resilience. According to data released by the Pakistan Bureau of Statistics (PBS), exports soared to $7.88 billion between July and September 2024, compared to $6.90 billion in the same period last fiscal year.
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KATI Urges FBR to Resolve Persistent IRIS System Issues
Karachi, October 1, 2024 – The Korangi Association of Trade and Industry (KATI) has called on the Federal Board of Revenue (FBR) to urgently address ongoing issues with its online tax return filing platform, IRIS.
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SBP Mandates Stringent Guidelines for Further Sugar Exports
Karachi, October 1, 2024 – The State Bank of Pakistan (SBP) issued a comprehensive directive on Tuesday, instructing banks and authorized dealers (ADs) to adhere to new regulations concerning the export of an additional 100,000 metric tons (MT) of sugar.
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KCCI Elects Jawed Bilwani as President for 2024-26 Term
In a pivotal moment for Karachi’s business community, Muhammad Jawed Bilwani has been elected as the new President of the Karachi Chamber of Commerce & Industry (KCCI) for the 2024-26 term.
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Yousaf Hussain Elected OICCI President for 2024-2026 Term
Karachi, September 30, 2024 – Yousaf Hussain, President and CEO of Faysal Bank Ltd., has been elected as the new president of the Overseas Investors Chamber of Commerce and Industry (OICCI) for the 2024-2026 term.
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SAI Demands Extension for Income and Sales Tax Return Filing
Karachi, September 30, 2024 – The SITE Association of Industry (SAI) has urged the Federal Board of Revenue (FBR) to extend the deadline for filing income tax and sales tax returns by at least 15 days. This appeal comes after the FBR’s Integrated Risk Information System (IRIS) experienced technical difficulties, leaving taxpayers unable to file their returns ahead of the September 30 deadline.
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RCCI Appeals to FBR for One-Month Extension in Tax Return Filing Deadline
Islamabad, September 29, 2024 – The Rawalpindi Chamber of Commerce and Industry (RCCI) has called on the Federal Board of Revenue (FBR) to extend the deadline for filing tax returns by one month, citing several logistical challenges and technical issues that have hindered taxpayers from completing their submissions on time.
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FPCCI Endorses Army Chief’s Commitment to Economic Stability
Karachi, September 28, 2024 – Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has expressed full support for the Army Chief’s efforts to bring economic stability, growth, and prosperity to Pakistan.
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KCCI Highlights IRIS Portal Failures Ahead of Tax Filing Deadline
Karachi, September 28, 2024 – With the looming deadline for the submission of income tax returns for the fiscal year 2024, the Karachi Chamber of Commerce and Industry (KCCI) has raised alarms over persistent glitches in the Federal Board of Revenue’s (FBR) online return filing portal, IRIS.
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