Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan has said the proposed bankruptcy law will serve as a comprehensive and supportive legal framework aimed at ensuring industrial stability and reviving struggling enterprises.
He made these remarks while chairing a high-level meeting of sub-committees tasked...
Shrugging off political noise, bulls further tightened their grip on the Pakistan Stock Exchange (PSX) on Wednesday, propelling the KSE-100 index past the psychological barrier of 145,000 points for the first time, as investors aggressively pursued value-hunting across the board on the back of strong economic fundamentals.
In a statement...
The National Clearing Company of Pakistan Limited (NCCPL) has issued a notice outlining the revised Capital Gains Tax (CGT) rates applicable from July 1, 2025, in line with amendments made to the Income Tax Ordinance, 2001, via the Finance Act 2025.
These changes apply to various markets including the Pakistan...
The Directorate General of Post Clearance Audit (PCA) has uncovered a large-scale under-invoicing scam in luxury vehicle imports.
Auditors reviewed 1,335 Goods Declarations and found that vehicles were consistently declared at values far below their actual worth. The total declared import value stood at Rs. 670 million, while the actual...
Tax practitioners have declared the same-day tax recovery from bank accounts immediately after issuing notices under Section 140 of the Income Tax Ordinance as unlawful.
They stated that the law requires the Commissioner Inland Revenue to set a specific future date for payment in the notice. The Federal Board of...
Prime Minister Shehbaz Sharif has ordered the abolition of Pakistan Revenue Automation Limited (PRAL) within six months, the nation's tax data storeroom, in a challenging move that may create more problems than providing any urgent solution due to its backbone status in the tax system.
Government officials told The Express...
The Directorate General of Customs Post Clearance Audit (PCA) has uncovered large-scale under-invoicing and money laundering in the clearance of luxury vehicles through the faceless system.
A shocking 127-page audit report has revealed what is being described as the largest trade-based money laundering scandal in Pakistan's history involving the import...
Pakistan has met only two out of five key fiscal conditions set by the International Monetary Fund (IMF) for the second review of the $7 billion bailout package, as provinces failed to generate the required cash surpluses and the federal government missed its tax targets.
Despite these shortfalls, the government...
The Competition Commission of Pakistan (CCP) will strictly monitor the fertilizer sector as the fertilizer industry is prone to cartelization and behavior of the fertilizer manufacturers may attract certain provisions of the Competition Act, 2010.
The CCP has released a draft report titled “Competition Assessment of the Fertilizer Industry in...
EV push gains momentum as the government approved a five-year subsidy scheme on Tuesday to support the rollout of 116,000 electric bikes and 3,170 electric rickshaws/loaders at an estimated cost of around Rs100 billion. This move follows the imposition of up to a three per cent tax on the...
