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.
(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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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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Aurangzeb Lauds Formal Sector for Bearing Tax Burden
Islamabad, December 16, 2024 – Finance Minister Muhammad Aurangzeb has commended the formal sector for shouldering the brunt of front-loaded tax measures introduced under the government’s economic stabilization program.
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SITE Association: Interest Rate Cut Lacks Positive Impact
Karachi, December 16, 2024 – The SITE Association of Industry has rejected the State Bank of Pakistan’s (SBP) recent monetary policy decision, stating that the 200-basis-point reduction in the policy rate will have no meaningful impact on the economy or industrial growth.
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FPCCI Declares 2% Rate Cut Insufficient
Karachi, December 16, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed concerns over the recent 2% reduction in the policy rate, terming it insufficient to address Pakistan’s economic challenges. The State Bank of Pakistan (SBP) announced the policy rate cut, reducing it from 15% to 13%, following months of declining inflation.
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KCCI Expresses Disappointment Over Meagre Interest Rate Cut
KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) expressed its disappointment over the limited 200 basis points reduction in the interest rate by the State Bank of Pakistan (SBP) on Monday.
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