Government Policies

Karachi Wholesale Grocers Announce Market Closure in Tax Protest The Karachi Wholesale Grocers Association has announced a complete shutdown of Pakistan’s largest wholesale market on Saturday, August 31, to protest the government’s withholding tax policies. This decision followed an emergency meeting at Jodia Bazaar, where traders, importers, and exporters expressed their dissatisfaction with the tax measures. Consequently, the association’s move …

In a recent meeting of the Senate Standing Committee on Finance, it was revealed that Pakistani citizens have forgotten about Rs97 billion lying dormant in their bank accounts. This significant sum is spread across 10.4 million temporarily closed accounts in various banks throughout the country. Dormant Accounts and Forgotten Funds The meeting, chaired by Senator Saleem Mandviwala, highlighted that these …

FBR’s Tax Registration Drive: Progress and Challenges The Federal Board of Revenue (FBR) has been conducting a tax registration drive for nearly five months across 42 cities, successfully bringing thousands of traders onto the tax roll. However, under the Tajir Dost Scheme (TDS), the average income tax collected from an individual trader remains low at just Rs2,432 per month. Tax …

The Pakistani government has decided to overhaul bilateral development financial institutions that have become hotspots for nepotism, following the appointment of favored bureaucrats to their boards. These board members reportedly receive up to $5,000 (Rs1.4 million) per meeting in fees. Focus Shift from Primary Role to Government Debt Investments Instead of adhering to their primary role of providing loans to …

Nationwide Strike Announced by Traders Against Government Tax Reforms The government’s widely promoted tax reform initiative is expected to face significant resistance as the traders’ community has announced a nationwide strike on Wednesday (today). This strike has garnered partial support from several political parties and trade associations. Ahead of the strike call, representatives of traders visited the Federal Board of …

Introduction The National Electric Power Regulatory Authority (Nepra) has approved a significant increase in electricity tariffs, raising rates by up to Rs1.90 per unit under the quarterly adjustment for the fourth quarter of the financial year 2023-24. This decision is set to impose a financial burden of approximately Rs46 billion on consumers across the country, including those served by state-owned …

FBR Appeals to Traders for Dialogue Ahead of Planned Strike Against Tajir Dost Scheme In a bid to avoid an escalating conflict with the trading community, the Federal Board of Revenue (FBR) has reached out to traders, urging them to present their demands before resorting to a nationwide shutter-down strike. The strike, planned for August 28, 2024, is in response …

Government Reconsiders Cap on Solar Energy Production for Export-Oriented Industries The Pakistani government, through its Minister for Commerce, Jam Kamal Khan, has announced a significant move that could reshape the landscape for export-oriented industries, particularly in the sports goods sector. During a virtual meeting with the Sectoral Council for Sports Goods, the minister assured industry representatives of the government’s unwavering …

In response to the growing global concerns about the spread of the monkeypox virus, the government of Pakistan has issued new guidelines to airports across the country, following the directives of Prime Minister Shehbaz Sharif. These measures aim to strengthen screening and preventive protocols at all entry points to safeguard public health. Strengthened Screening Measures at Entry Points According to …

ACCORDING TO SAMAA, The Chairman of the Pakistan Telecommunication Authority (PTA), Major General (retd) Hafeez-Ur-Rehman, addressed the ongoing controversy surrounding the installation of a firewall system during a session of the Standing Committee of the National Assembly on Information Technology. In a carefully worded statement, he clarified that the system in question is not a new firewall but an upgraded …