On April 17, 2025, the State Bank of Pakistan (SBP) announced the official foreign exchange rates for customers. These rates, based on the weighted averages of commercial banks, act as a key reference for cross-border transactions, facilitating international trade and commerce.
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PSX Surges 881 Points on Historic Current Account Surplus
Karachi, April 17, 2025 — The Pakistan Stock Exchange (PSX) recorded a strong rally on Thursday, gaining 881 points as investor sentiment soared following news of a historic current account surplus, signaling improved macroeconomic stability.
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Gold Soars to Rs350,000 per Tola, Setting New Record in Pakistan
Karachi, April 17, 2025 — In a dramatic surge reflecting global economic uncertainty, gold prices in Pakistan hit an all-time high on Thursday, climbing to Rs350,000 per tola, marking the highest-ever level recorded in the country’s bullion markets.
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Pakistan Breaks Record with March Current Account Surplus
Karachi, April 17, 2025 — In a significant boost to its economic outlook, Pakistan recorded its highest-ever monthly current account surplus in March 2025, signaling improved external sector stability.
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FBR Introduces Stricter Parameters for Sales Tax Suspension
Islamabad, April 17, 2025: The Federal Board of Revenue (FBR) has introduced fresh and more stringent guidelines for the suspension of sales tax registration under new Statutory Regulatory Order (SRO) 608(I)/2025, issued on Thursday.
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ICMAP Proposes 3.5% Tax on Social Media Platform Earnings
Karachi, April 17, 2025: The Institute of Cost and Management Accountants of Pakistan (ICMAP) has proposed the introduction of a 3.5% tax on earnings generated from social media platforms, as part of its comprehensive tax proposals for the federal budget 2025–26.
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FBR Grants Rs81 Billion Sales Tax Exemption to Poultry Feed
Karachi, April 17, 2025:: The Federal Board of Revenue (FBR) has announced a massive sales tax exemption worth Rs81 billion for the local supply of poultry feed.
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Port Qasim Shipping Operations – April 17, 2025
Karachi, April 17, 2025: Port Qasim, one of Pakistan’s busiest and most strategic seaports, reported smooth and consistent shipping operations over the last 24 hours, as per the latest update issued by the Port Qasim Authority (PQA) on Thursday morning.
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Islamabad Weather Shifts, Temperatures Set to Decline
Islamabad, April 17, 2025: After enduring several days of intense heat, residents of Islamabad can finally expect a much-needed break from the hot weather, as temperatures are projected to gradually decline over the next few days. This change in weather will bring a noticeable shift in daily conditions, providing some relief to those struggling with the recent heatwave.
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KCCI Urges Tax Relief for Foreign Exchange-Earning Businesses
Karachi, April 17, 2025 — The Karachi Chamber of Commerce and Industry (KCCI) has called on the government to exempt foreign exchange-earning businesses from provincial taxation, aiming to promote economic stability and protect vital inflows into Pakistan’s economy.
In its comprehensive tax proposals for the 2025–26 budget, the KCCI highlighted a critical concern: businesses that generate foreign exchange—such as Indenting Agents, Buying Houses, and similar service-oriented operations—are already subject to federal taxation. Since foreign exchange earnings directly influence Pakistan’s national reserves and macroeconomic policies, they are traditionally governed by federal laws. However, KCCI emphasized that some provincial authorities have also started imposing taxes on the same income, creating jurisdictional overlaps and undermining the principle of unified taxation.
The KCCI warned that this dual taxation structure discourages businesses from bringing their foreign exchange earnings into the country. “Over-taxation increases the operational burden and disincentivizes the repatriation of valuable foreign exchange into Pakistan, thereby weakening our external account position,” stated a KCCI spokesperson.
Moreover, the KCCI pointed out that high tax liabilities at both federal and provincial levels reduce business competitiveness, especially when compared to regional players operating under more favorable regimes. Businesses may opt to park their foreign exchange earnings offshore, reducing liquidity in the domestic market and putting further pressure on Pakistan’s already strained foreign exchange reserves.
To address these challenges, the KCCI has proposed a targeted exemption from provincial taxes for businesses that earn and remit foreign exchange into Pakistan. The Chamber stressed that such a measure would reduce tax overlap, enhance the ease of doing business, and encourage compliance.
“The objective is to build a transparent and business-friendly framework that encourages entrepreneurs to keep their foreign exchange earnings within Pakistan,” the KCCI noted. “This will not only support a stable exchange rate but also help boost investor confidence.”
By aligning tax policies with national economic goals, the KCCI believes the government can create a more predictable and growth-oriented environment for foreign exchange-generating enterprises.