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FTO Orders FBR to Clear Pending Tax Return Extension Requests in 3 Days
The Federal Tax Ombudsman has directed the Federal Board of Revenue to clear the entire backlog of tax return extension applications within three days, after revealing that the delay in processing taxpayer requests amounts to maladministration. The order highlights a…
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Govt Taxes All Bank Transactions, Banks Raise Fees
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Starting July 1, the federal government has implemented a sweeping tax policy that affects all types of bank transactions, whether you’re a filer or a…
Digital Banking Pilot Project Faces Delay, Now Expected by Mid-August
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The National Assembly Standing Committee on Poverty Alleviation and Social Safety expressed dissatisfaction over the delay in launching Pakistan’s digital banking pilot project. Initially scheduled…
Pakistan Railways Plans New Fare Hike Due to Rising Diesel Costs
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As rising fuel prices continue to strain its budget, Pakistan Railways is considering another round of fare hikes to offset significant financial losses, officials confirmed…
OCAC Warns New Levies on Furnace Oil Will Cripple Industries
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The Oil Companies Advisory Council (OCAC) has raised alarms over the government’s decision to impose new levies on furnace oil, cautioning that the move could…
Govt Confirms Utility Stores Shutdown Date
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The Prime Minister Shehbaz Sharif-led federal government has finalized plans to shut down the Utility Stores Corporation (USC), the country’s public retail network, by July…
CCP Imposes Rs42M Penalty on UDPL and IBL Over Market-Fixing Pact
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The Competition Commission of Pakistan (CCP) has slapped a hefty penalty of Rs42 million on United Distributors Pakistan Limited (UDPL) and International Brands (Private) Limited…
Govt Set To Slash The National Savings Schemes Returns
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National savings scheme returns have been revised downward as Pakistan adjusts rates at the start of the new financial year to better align with prevailing…
Cement Shipments in Pakistan Rise as Exports Surge
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ISLAMABAD: Cement shipments in Pakistan increased by 2% year-on-year (YoY) to 46.22 million tonnes during FY25, primarily supported by a sharp rise in exports that…
US Eyes $1 Billion Investment in Pakistan’s Mineral Sector
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US investment in Pakistan’s mineral sector could climb as high as $1 billion, as Islamabad and Washington accelerate trade talks aimed at reshaping their economic…
IMF Rejects Pakistan’s Subsidised Power Tariffs Plan
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The International Monetary Fund (IMF) has rejected Pakistan’s latest proposal to introduce subsidised power tariffs for certain industrial sectors, cautioning that such incentives could deepen…
New Taxes Prompt Courier Companies to Raise Delivery Charges
3 min read
Major courier companies have notified their customers, including registered E-commerce companies and online traders, that the government will charge them the newly imposed taxes from…
Pakistan Airport Cargo Fees Increased by Up to 100%
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In a major shift after five years, Pakistan airport cargo fees have been significantly increased nationwide, with some tariffs skyrocketing by as much as 100…
FBR removes additional Customs Duty on imports in lower slabs
2 min read
The Federal Board of Revenue (FBR) has announced the complete removal of Additional Customs Duty (ACD) on imported goods falling under the 0%, 5%, and…
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