The Faceless Customs Assessment (FCA) system, inaugurated by the prime minister last year in Karachi to combat corruption, has incurred a revenue loss of about Rs100 billion in three months. This was revealed in a detailed analysis by the Pakistan Customs Audit — an internal arrangement of the Federal Board of Revenue — spanning December 16, 2024 to March 15, 2025. “The scrutiny of 13,140 go
Federal Commerce Minister Jam Kamal Khan reached Tehran on Sunday for a three-day official visit to boost economic relations between Pakistan and Iran, according to a press release from the commerce ministry. Pakistan and Iran share close ties and have signed multiple agreements across sectors such as energy and trade. According to the press release, Khan is expected to lead the Pakistan-Ira
Business stakeholders have expressed divergent views on the impact of floods on supply chains, with some citing delays in interprovincial cargo movement and crop damage, while others insist supplies of food, fuel and medicines remain normal. The federal government has already imposed a climate change and agriculture emergency after floods in Punjab moved downstream towards Sindh, heightening fe
President Asif Ali Zardari on Saturday reaffirmed Pakistan’s readiness to work with China and other nations to expand cultural exchanges, strengthen creative industries and promote understanding and a culture of tolerance. He said culture remained a vital bridge to peace, prosperity, and a shared future for humanity. The president addressed the Second Golden Panda Awards International Cult
Pakistan cannot regulate cryptocurrencies within its current financial system, as the State Bank tightly manages foreign exchange, but virtual assets may still serve as an alternative to hawala, said former Federal Board of Revenue (FBR) chairman and economist Shabbar Zaidi. Speaking at a session on Adopting Digital Currency and Cryptocurrency in Pakistan: Possibilities and Concerns, organised