Hyderabad Chamber Requests 48-Day Extension For Income Tax Filing Amid IRIS Portal Issues
HCSTSI urges federal government to extend income tax filing deadline by 48 days due to IRIS portal malfunctions and flooding in Punjab, KPK, and Sindh, citing hardships for traders and salaried taxpayers.
SECP Proposes Legal Framework for Licensing and Regulation of Waqf Management Companies
The Securities and Exchange Commission of Pakistan has proposed a new amendment to the Companies Act, 2017 to regulate Waqf management companies. The framework introduces modern Waqf structures, safeguards Shariah compliance, and opens pathways for Islamic social finance growth.
SECP Releases Detailed FAQs on Mergers, Amalgamations, and Winding Up of Companies
The Securities and Exchange Commission of Pakistan has issued detailed FAQs to guide companies, legal practitioners, and advisors on mergers, winding up, and revival processes, simplifying regulatory compliance and supporting corporate restructuring.
FBR to Crack Down on Wealthy Individuals Flaunting Lavish Lifestyles on Social Media
FBR to launch audits on wealthy individuals showcasing luxury cars, weddings, and properties on social media, targeting undeclared income and tax evasion in Pakistan.
NIBAF Strengthens Compliance Culture with SBP Regulatory Training in Branch Banking
NIBAF Pakistan hosted a two-day training in Peshawar on SBP regulatory compliance for branch banking operations, equipping officers with frameworks, best practices, and compliance strategies.
JS Global Capital Secures SECP License as Securities Manager to Expand Portfolio Services
JS Global Capital has been granted a Securities Manager license by SECP, enabling portfolio management and investment advisory services, strengthening its financial services offering in Pakistan.
SBP Orders Banks to Establish Electronic Data Interchange with Pakistan Single Window
The State Bank of Pakistan has directed all commercial banks to establish Electronic Data Interchange (EDI) with the Pakistan Single Window to improve transparency, security, and efficiency in trade and financial transactions.
Pakistan Virtual Assets Regulator Becomes Operational with FBR Officials Joining Oversight
Pakistan has operationalized the Virtual Assets Regulatory Authority (PVARA), with FBR officials deputed to strengthen oversight on risk management, market surveillance, and anti-money laundering.
New Auditor General Faces Fallout from Pakistan’s ‘Most Expensive Typo’ in Audit Report
Pakistan’s newly appointed Auditor General, Maqbool Ahmed Gondal, inherits the controversy over an audit report that mistakenly cited Rs376 trillion in irregularities due to a typographical error, sparking criticism and raising questions over auditing practices.
Pakistan Launches First Trade Dispute Resolution Commission to Strengthen Governance and Business Confidence
Pakistan’s first Trade Dispute Resolution Commission (TDRC) has started operations under the Trade Dispute Resolution Act 2022, offering a transparent and efficient framework for resolving trade disputes and boosting investor confidence.