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FrieslandCampina Engro Pakistan Limited reports successful half-year run despite political and economic volatility
Business

FrieslandCampina Engro Pakistan Limited reports successful half-year run despite political and economic volatility

The Company has achieved a revenue growth of 12.1% during the first half of 2026 over the same period last…

A leading economic think tank has called on the government to immediately withdraw the Tax Laws (Amendment) Ordinance 2025, warning it threatens Pakistan’s business climate and judicial independence. The Economic Policy and Business Development (EPBD) group said the ordinance, signed by the President on May 2, grants tax authorities sweeping powers that could disrupt cash flows, undermine legal safeguards, and damage investor confidence. The group highlighted three key changes that raised serious concerns: Immediate Tax Recovery: Amendments to the Income Tax Ordinance now allow authorities to demand immediate payment once courts decide cases—removing established legal buffers and stay provisions. On-site Monitoring: A new section permits tax officials to be physically present at business premises for ongoing monitoring, raising fears of operational disruption and privacy invasion. Broader Seizure Powers: Changes to the Federal Excise Act allow any government officer—not just tax officials—to confiscate goods over technical violations, increasing business uncertainty. EPBD said these measures were unjustified, especially as tax compliance had improved despite economic challenges. It warned the ordinance could deter both domestic and foreign investment, reduce economic productivity, and burden businesses with intrusive oversight. The group also raised constitutional concerns, saying the ordinance weakens judicial authority and sets a troubling precedent for governance in Pakistan. EPBD urged the government to withdraw the ordinance, allow parliamentary debate, and engage stakeholders. It also recommended restoring legal safeguards, avoiding blanket monitoring, and focusing on expenditure reforms rather than harsh tax measures.

Think Tank Urges Withdrawal of Tax Ordinance Amid Business Fears

A leading economic think tank has called on the government to immediately withdraw the Tax Laws (Amendment) Ordinance 2025, warning…

Business
Gold Prices Soar to Record High in Pakistan

Gold Prices Soar to Record High in Pakistan Amid Global Market Surge

Gold prices in Pakistan witnessed a steep rise on Monday, 5 May 2025, setting new records in the local market.…

Business
ICCD Unveils 2nd Edition of BOE Asia"Techpreneurship: Strategy, Innovation & Leadership"

ICCD Unveils 2nd Edition of BOE Asia”Techpreneurship: Strategy, Innovation & Leadership”

ICCD Unveils 2nd Edition of BOE Asia"Techpreneurship: Strategy, Innovation & Leadership" The Best of Entrepreneurship Series in Asia (BOE Asia) is…

Business
PSO Marks Women’s Empowerment with Driving Scheme

PSO Celebrates Women’s Empowerment Through Shaheen Mobility Program

Pakistan State Oil (PSO) has marked a significant milestone in its commitment to social development with the celebration of its…

Business
Think Tank Highlights Both Challenges and Opportunities for Pakistan Amid US Tariff

Think Tank Highlights Both Challenges and Opportunities for Pakistan Amid US Tariff Increase

The impending increase in US tariffs to 29% under the reciprocal tariff policy presents both challenges and opportunities for Pakistan,…

Business
MT Default Temp (93)

Barrick Gold President Meets Pakistani Business Leaders to Explore Mining Investment Opportunities

Chairman of the Economic Policy & Business Development (EPBD), Dr. Gohar Ejaz, along with members of the EPBD Board of…

Business