Govt urged to revisit numerous budgetary measures
KARACHI: The Karachi Chamber of Commerce & Industry (KCCI), while identifying several anomalies in the Federal Budget 2024, highlighted that the Budget appears to have been prepared in the standard…
SECP warns public against fraudulent car financing scheme by Etihad Auto Solutions
ISLAMABAD: The Securities & Exchange Commission of Pakistan (SECP) has taken cognizance of an unincorporated entity by the name of Etihad Auto Solutions for offering car financing schemes against an…
KATI Welcomes Reduction in Electricity and Petrol Prices, Calls for Further Tax Cuts
Karachi: The Korangi Association of Trade and Industry (KATI) has welcomed Prime Minister Shehbaz Sharif’s recent decision to reduce electricity tariffs for industries by PKR 10.69 per unit and cut…
Illegal Al-Badar Society Established on Billions-Worth KPT Land by Land Grabbers
Karachi: In the Keamari area, within the jurisdiction of Jackson police station, land grabbers have illegally established Al-Badar Society on Karachi Port Trust (KPT) land worth billions of rupees. The…
Quetta Customs Seized Smuggled Goods Worth 430 million Rupees
In a significant operation, the Quetta Collectorate of Customs Enforcement intercepted nine trucks loaded with contraband goods. The cache included cigarettes and other smuggled items, concealed within coal heaps. The…
Successful Betel Nut Seizure in Karachi: ASO Raids Honda Company Warehouse
In a swift operation, the Anti-Smuggling Organization (ASO) under the leadership of Deputy Collector Customs Enforcement, Muhammad Raza Naqvi, seized a significant quantity of smuggled betel nuts near the Honda…
ANF Cracks Down on Drug Trafficking: Over 1 Ton Seized, 8 Arrested
In a significant blow to drug trafficking networks, the Anti-Narcotics Force (ANF) has successfully carried out nine operations across Pakistan, seizing over 1 ton and 784 kilograms of illegal narcotics…
CCP Grants Time-Bound Exemption in Uber-Careem Deal
ISLAMABAD: The Competition Commission of Pakistan (CCP) has granted exemption till December 2025 on specific clauses of Non-Compete Deeds of Covenant and the Common Stock Purchase Agreement (CSPA) signed between…
Khuzdar Customs seizes large quantity of smuggled tyres
KHUZDAR: Customs Enforcement has seized a large quantity of new tyres, which were being smuggled in the garb of old tyres. The value of the seized goods long with carrier…
Karachi Customs Enforcement Cracks Down on Smuggling, Seizes Banned Boostin Injections
Karachi Customs Enforcement, led by Collector Mr. Basit Maqsood Abbasi, has successfully conducted a major operation against smuggled goods. The operation, which took place in the early hours of June…
Customs Lawyers serves Legal Notice feeling offended by news Item based on SHC order
KARACHI: A legal notice was served upon Custom News.pk by Advocate Khalid Mehmood Rajper, Counsel for Pakistan Customs seeking withdrawal of a news item carried by the website pertaining to…
Pakistan Budget FY25 – Stock market measures; Positive for market
KARACHI: Contrary to expectations of change in treatment of income from capital gain and dividends to normal tax, affecting net returns of the investors; we believe the budget FY25 is…
Finance Bill revised capital gains tax rates on the sale of securities
KARACHI: Finance Bill 2025 has proposed revised capital gains tax (CGT) rates on the sale of securities, set to take effect from July 1, 2024. Under the current regime, CGT…
New tax rates proposed for late income tax return filers
KARACHI: The Federal Board of Revenue (FBR) has announced new tax rates for late income tax return filers as part of the Finance Bill 2024. This measure, unveiled in the…
Federal Budget redefines ‘tax fraud’ to curb intentional evasion and undue refunds
KARACHI: The Federal Budget for the fiscal year 2024-25 has introduced a comprehensive definition of “tax fraud.” The new classification aims to curb the intentional evasion of tax and the…
Public Holidays Eid-ul-Adha
The State Bank of Pakistan will remain closed from 17th to 19th June, 2024 (Monday to Wednesday) being public holidays on the occasion of Eid-ul-Adha.
Finance Bill Outlines Structure for Pakistan’s Customs Appellate Tribunals
KARACHI: The Finance Bill of 2024 has introduced a comprehensive framework for the functioning of the Customs Appellate Tribunals under the Customs Act. The bill specifies the jurisdiction, powers, and…
FBR Announces Comprehensive Customs Duty Reforms in Finance Bill 2024
KARACHI: The Federal Board of Revenue (FBR) has unveiled a series of reforms concerning customs duties as outlined in the Finance Bill 2024. The FBR’s announcement highlighted several guiding principles…
SITE President lauds DG Rangers efforts to curtail water theft, demands to supply water to run industries
KARACHI: Muhammad Kamran Arbi, President of SITE Association of Industry, has appreciated the efforts of the Director General, Pakistan Rangers Sindh, to curtail freshwater theft in the city in collaboration…
Petroleum levy increased to Rs80/liter
KARACHI: Federal budget for the fiscal year 2024-25 has increased the maximum rate of petroleum to Rs 80 per liter on various petroleum products. Government has raised the petroleum levy…