In a significant development aimed at addressing longstanding grievances of the business community over import/export tariffs, anti-dumping duties, and other trade barriers, Chairman of the National Tariff Commission (NTC), Naeem Anwar, has pledged to rectify these issues in the upcoming Federal Budget of 2024-25.
(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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Murree Brewery Posts 84% Profit Surge in Nine Months of FY24
In a robust performance, Murree Brewery Company Limited has recorded a significant 84% increase in its profits for the first nine months of fiscal year 2023-24. The company’s after-tax profit soared to Rs 1.79 billion, up from Rs 973 million in the corresponding period of the previous fiscal year.
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Realtors Appeal Against Additional Property Tax
The Khyber Pakhtunkhwa Federation of Realtors has launched a fervent appeal to the federal government, urging a halt to the imposition of further tax on property transactions, a move that could exacerbate the already fragile economic conditions in the region.
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Azerbaijan Envoy for Strengthening Economic Ties with Pakistan
Karachi, April 19, 2024 – Ambassador of Azerbaijan to Pakistan, Khazar Farhadov, emphasized the critical need for enhancing economic collaboration between Azerbaijan and Pakistan during a meeting at the Karachi Chamber of Commerce & Industry (KCCI).
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Textile Exports Dip to $12.44 Billion in 9MFY24
The textile exports of Pakistan have experienced a slight decline, reaching $12.44 billion during the first nine months (July-March) of the fiscal year 2023-24, marking a nominal decrease of 0.25 percent compared to the same period in the previous fiscal year, according to data released by the Pakistan Bureau of Statistics (PBS).
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Philip Morris Pakistan Calls for Stern Action Against Tax Evasion
Islamabad, April 17, 2024 – Philip Morris Pakistan Limited (PMPKL) has sounded the alarm on the urgent need for immediate measures to combat the rising prevalence of low-priced, non-tax-paid cigarettes, citing a loss of fair competition and a significant decline in volumes within the legitimate tobacco sector.
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SITE Industries Shun Petroleum Price Hike
KARACHI: Muhammad Kamran Arbi, President of the SITE Association of Industry, has voiced strong opposition to the recent increase in petroleum prices, labeling it as detrimental to both the industry and the overall economy.
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FPCCI Demands Cut in Petroleum Prices with Ease in ME Tensions
Karachi, April 17, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has called upon the government to slash petroleum prices in light of recent developments easing tensions in the Middle East region.
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LSM Records Modest Growth of 0.6% in February 2024
Islamabad, April 16, 2024 – Official data released on Tuesday revealed that Pakistan’s Large-Scale Manufacturing (LSM) sector witnessed a slight expansion of 0.6 percent in February 2024 compared to the same period last year.
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SECP Urges Removal of Multiple Taxes on Insurance
Islamabad: In a bid to unlock the potential of micro and inclusive insurance in Pakistan, the Securities and Exchange Commission of Pakistan (SECP) has called upon the Federal Board of Revenue (FBR) to eliminate multiple layers of taxation on insurance products.
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