Tag: #PakistanEconomy

Budget2025

Govt Mulls New Taxes on Packaged Snacks to Raise Rs150 Billion

The federal government is working on a proposal to impose Federal Excise Duty (FED) and additional sales tax on a…

Business
Riyal vs PKR

Saudi Riyal Continues Upward Trend Against Pakistani Rupee

The Saudi Riyal (SAR) maintained its upward momentum against the Pakistani Rupee (PKR) in the open market on Thursday, May…

Business
vehicles

Pakistan Eyes Industry Relief and Wider Tax Net in Budget Talks with IMF

As Pakistan finalizes its Budget for 2025–26, discussions with the International Monetary Fund (IMF) continue, focusing on a range of…

Business
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

Petrol Price in Pakistan Today: Updates & Key Factors

Get the latest petrol price in Pakistan today, factors affecting fuel rates, and government measures to stabilise costs. Stay updated…

National