ISLAMABAD: The Federal Board of Revenue (FBR) missed its collection target by Rs28 billion in May owing to a slowdown in the economy and disruptions linked to the ongoing Middle East conflict. Tax officials said the widening gap between target and collection became more pronounced over the past three months, as the war in the […]
Read More
• Govt plans slashing ACD on 3,149 tariff lines and capping customs duty at 20pc in budget FY27• Second phase of five-year tariff plan targets automobiles, steel, textiles and chemicals with lower protection ISLAMABAD: As part of a broader tariff rationalisation strategy aimed at lowering input costs, improving competitiveness, and supporting industrial expansion, the government […]
Read More
KARACHI: Uncertainty in the Gulf region has started affecting Pakistan’s economy on multiple fronts, with a possible slowdown in remittances emerging as a key concern, market sources said. They said Pakistan was facing among the highest petroleum prices in the region, which had increased the cost of production and transportation, making exports less competitive in […]
Read More
Meta Platforms plans to start testing an AI pendant in the next year, as it charts a roadmap for wearable devices in an effort to reverse losses in its hardware division, The Information reported on Friday, citing a memo. Meta declined to comment to Reuters on the report. The Facebook and Instagram owner plans to […]
Read More
• 1pc advance tax removal may bring a meagre Rs100bn relief• Textile sector pushes for broader reforms, refunds, and lower energy costs• 68pc tax burden eroding competitiveness; industry demands restoration of Final Tax Regime ISLAMABAD: The government is considering abolishing the one per cent advance tax on exporters in the upcoming federal budget, a move […]
Read More
SWABI: Industrialists of Gadoon Amazai Industrial Estate (GAIE) warn of a bleak future for the zone, saying that without government support and fresh investment, several units have already been shut down while others are struggling to survive due to multiple structural and operational challenges. They said the major issues include a disadvantageous location, prolonged power […]
Read More
KARACHI: Industry leaders warn that further tightening of monetary policy may significantly reduce private-sector economic participation, as high borrowing costs have already limited access to credit. The State Bank of Pakistan has assured the visiting International Monetary Fund (IMF) mission, which concluded its discussions on the upcoming budget on Thursday, that it will maintain a […]
Read More
KARACHI: Pakistani freelancers have earned more than $950 million in foreign exchange during 10MFY26, up 49 per cent year on year (YoY), according to data released by the State Bank of Pakistan (SBP). Dr Imran Batada, the newly appointed President and CEO of the Pakistan Freelancers Association (PFA), said Pakistani freelancers had outperformed those in […]
Read More
KARACHI: The Pakistan Stock Exchange (PSX) maintained a bullish drive in the last session of the two-day week, due to the long Eidul Azha break, pushing the benchmark KSE-100 index above the 174,000-point level intraday on Friday. Ali Najib, Deputy Head of Trading at Arif Habib Ltd (AHL), said the PSX witnessed strong buying interest, […]
Read More
The government announced a reduction of Rs22 per litre in the prices of petrol and high-speed diesel (HSD) each on Friday. Last week, the government cut the prices of petrol and diesel by Rs6-7 per litre each with immediate effect for the week ending May 29 owing to lower global prices. Following the last reduction, […]
Read More