FBR Admits Rs3.6 Trillion Sales Tax Gap, Pushes Digital Tracking for Retail Sector
The Federal Board of Revenue has admitted to a Rs3.6 trillion sales tax gap, highlighting structural challenges in Pakistan’s fragmented retail sector. Despite record enforcement claims, the FBR looks toward digital invoicing and supply chain tracking to address revenue losses.
K-Electric Reports FY24 Results with PKR 4.13 Billion Profit Amid Challenging Economic Climate
K-Electric announced its financial results for FY24, reporting PKR 4.13 billion profit despite inflation, tariff hikes, and operational challenges, while outlining investments in transmission, distribution, and anti-theft initiatives.
FBR Launches Nationwide Crackdown on Tax-Evading Jewellers to Broaden Fiscal Net
The Federal Board of Revenue (FBR) has launched a nationwide crackdown on tax-evading jewellers, targeting thousands operating outside the tax net. Notices have been issued across major cities as the authority works to broaden Pakistan’s tax base and enforce fiscal compliance.
Revenue Challenges in Pakistan Highlight Capacity Gaps Beyond NFC Allocations
Pakistan’s growing debt and revenue challenges are rooted in limited provincial tax generation, public sector inefficiencies, and underutilized resources, rather than the current NFC award formula.
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.
Pakistan GDP Growth Forecast Revised Down Amid Floods And Agricultural Losses
Private analysts cut Pakistan’s FY26 GDP growth projections to as low as 2.75% following devastating floods, highlighting agricultural damage, inflationary pressures, and rising fiscal and current account deficits.
Pakistan and China to Launch Next Phase of CPEC with Five Strategic Corridors
Pakistan and China have agreed to advance the next phase of the China-Pakistan Economic Corridor (CPEC) with five new corridors, strengthening bilateral cooperation under the Belt and Road Initiative and reinforcing their long-term strategic partnership.
FBR De-seals Saeed Book Bank in Islamabad After POS System Dispute
The Federal Board of Revenue (FBR) has de-sealed Islamabad’s largest bookstore, Saeed Book Bank, after a dispute over POS system integration. The incident highlights the challenges faced by traditional businesses amid Pakistan’s evolving digital tax compliance framework.
Pakistan Seeks IMF Approval for New Tax to Fund Rs213 Billion Jinnah Medical Complex
Pakistan has approached the IMF for approval to impose a new municipal tax in Islamabad to finance the Rs213 billion Jinnah Medical Complex, while also exploring alternative funding options including budget reallocations and Panda bonds.
SBP Policy Rate Expected to Hold at 11% as Flood-Driven Inflation Risks Weigh on Outlook
State Bank of Pakistan is likely to keep the policy rate unchanged at 11% in its September 2025 meeting as floods drive inflation risks and currency pressures persist.