Leaders of the All Pakistan Fruit and Vegetable Exporters Association have strongly rejected the government’s proposal to levy a 29% tax on export earnings in the financial year 2024-2025 budget, replacing the full and final withholding tax of 1% under the fixed tax regime. They warned the federal government that placing exports under the normal tax regime by abolishing the fixed tax regime wil
The consolidating Pakistani rupee regained Rs0.12, strengthening to Rs278.50 against the US dollar in the inter-bank market on Tuesday. According to State Bank of Pakistan (SBP) data, the domestic currency had weakened to a three-month low of Rs278.62 against the greenback on Monday. The Exchange Companies Association of Pakistan (ECAP) reported that the local currency gained Rs0.05, closing at Rs
The American Business Council has urged the government to reconsider the 25% Sales Promotion, Advertising, and Publicity (SAP) Expense Disallowance Policy, warning that it will significantly increase marketing costs, particularly for multinationals. The government’s disallowance of 25% of SAP expenses creates a substantial financial burden, especially for multinationals that rely heavily on advert
Pakistan’s Ambassador to the United States, Masood Khan, invited American entrepreneurs and corporate leaders to invest in Pakistan’s IT, energy, agriculture, and mineral sectors during a meeting in Washington on Monday, according to a press release from the Pakistani embassy. The ambassador highlighted the advantages identified by the US International Trade Administration for American investor
The government raised Rs131.4 billion through the auction of Pakistan Investment Bonds (PIBs) on Tuesday, further increasing domestic debt volume. Data from the State Bank shows that the government raised the highest amount, Rs115bn, through three-year PIBs against bids of Rs154.3bn, with a 16.6 per cent rate of return. The lowest amount, Rs500 million, was raised for five-year PIBs against