Islamabad, May 11, 2024: In a bold move aimed at curbing cash transactions and enhancing tax compliance, foreign investors operating in Pakistan have proposed the government to demonetize the Rs 5,000 banknote.
(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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PM Shehbaz Directs Formulating Export-Friendly Trade Policy
Islamabad, May 10, 2024 – Prime Minister Shehbaz Sharif has instructed government officials to craft a new trade policy that prioritizes export enhancement and is friendly to business interests.
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Community Power: UNISAME Blueprint for SME Revival
In an impactful gathering hosted by the Union of Small and Medium Enterprises (UNISAME), leading SME experts and community leaders convened to discuss innovative strategies for accelerating SME growth in Pakistan from the grassroots level.
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Illicit Cigarettes Take Over Pakistani Market, Costing Billions
Islamabad, May 10, 2024: A new study by Ipsos Pakistan paints a concerning picture of the country’s cigarettes market, revealing a significant shift towards illicit brands.
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Think Tank Advocates for Stringent Cigarettes Taxation
ISLAMABAD: The Islamabad-based think tank, Capital Calling, has called for rigorous adjustments to the taxation policy on cigarettes, aiming to align it with global norms.
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MICADR Advised for Business Dispute Resolution in Pakistan
KARACHI: During a recent meeting at the Karachi Chamber of Commerce & Industry (KCCI), Justice (Retd.) Arif Hussain Khilji, Managing Director of Musaliha International Center for Arbitration and Dispute Resolution (MICADR), advocated for businesses to employ arbitration and mediation services provided by MICADR to resolve disputes.
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Citi Pharma Announces China-Based JV for API Expansion
Citi Pharma Limited, a key player in Pakistan’s pharmaceutical sector, has announced a significant joint venture (JV) with Hangzhou Newsea Technology Co. Ltd, aiming to bolster its Active Pharmaceutical Ingredients (API) manufacturing capabilities.
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Pakistan Business Council Seeks Clarity on Group Taxation
Karachi, May 6, 2024 – The Pakistan Business Council (PBC), a leading advocacy group representing major businesses in the country, has submitted proposals for the upcoming budget 2024-25. A key area of focus for the PBC is seeking amendments to the existing group taxation regulations to provide clarity and relief regarding inter-corporate dividends (ICD).
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Engro and DH Corp Boards Greenlight Major Restructuring Plan
In a significant move on May 3, 2024, the boards of Engro Corporation Limited (Engro Corp) and DH Corporation Limited (DH Corp) approved a restructuring plan involving, aiming to optimize capital allocation and enhance shareholder returns.
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High-Profile Saudi Trade Delegations Arrives in Islamabad
Islamabad, May 5, 2024 – A significant stride towards enhancing bilateral economic relations between Saudi Arabia and Pakistan was marked by the arrival of a high-profile Saudi trade delegation in Islamabad on Sunday.
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