Tue, 21-Oct-2025

FBR likely to extend deadline for filing income tax returns

FBR faces Rs110bn revenue shortfall in April 2025

ISLAMABAD: Federal Board of Revenue (FBR) has set September 30(today) as last and final day for submission of income tax returns while government has not yet announced an extension.

It is the last day for submission of income tax returns, the business community is demanding an extension of the date, but no decision has been taken by the government to extend the date.

FBR has started considering extending the date of submission of income tax returns.

Sources say that it will be recommended to extend the date of the Prime Minister’s return to the country, there is a lot of load on the system during the submission of returns.

So far, 29 million returns have been collected till September 28. 1.4 million returns were submitted till this date last year.

Earlier, Finance Minister Muhammad Aurangzeb said that this year the number of filers has reached to 3.2 million, last year there were 300,000 new filers, while this year it has increased to 723,000.

He said that non-filers will not be able to buy vehicles, property and there will be a decision regarding the under-filers.

[embedpost slug=”fbr-to-recruit-4000-auditors-for-audit-of-traders”]

Read more

COAS invites business community to work with SIFC

COAS

KARACHI: Chief of Army Staff (COAS) General Syed Asim Munir met with the business community of Karachi and vowed to resolve their issues.

According to the Inter-Services Public Relations (ISPR), army chief appreciated the contributions of the business community and entrepreneurs towards the country’s economic growth.

The business community expressed confidence and praised the Special Investment Facilitation Council (SIFC) for its role towards achieving the positive economic indicators, which is providing an enabling environment for further economic growth.

COAS commended the efforts of Federal and Provincial Governments towards supporting all initiatives and remarked that naysayers who made failed efforts towards creating despair and despondency in the society have been defeated through the collective efforts of all stakeholders.

The army chief appreciated the praiseworthy role performed by brotherly and friendly countries especially China, Kingdom of Saudi Arabia and UAE in the economic recovery of Pakistan by helping us in multiple domains.

General Syed Asim Munir highlighted that Pakistan has remarkable potential in various domains and all must have unflinching trust and confidence in the bright future of Pakistan. Given the immense resources and potential, Pakistan is destined to achieve its rightful position in the comity of nations, Insha Allah.

[embedpost slug=”pakistan-destined-to-achieve-rightful-position-in-world-coas-gen-asim”]

Read more

Business community is real face of capital city: Chairman CDA

Business community is real face of capital city: Chairman CDA

ISLAMABAD: Chairman Capital Development Authority Mohammad Ali Randhawa has said that business community is the real face of the capital city which has been playing an important role in its development, therefore it would be taken on board in the decision makings. The Chairman CDA said this while talking to a big delegation of Islamabad … Read more

Pak-Afghan border committee agrees to expedite crossover of vehicles

Afghan

PESHAWAR:A meeting of Pak-Afghan border management committee at Custom Station Torkhem agreed to expedite the crossover of vehicles from both sides to 900 trucks daily to clear the long queues of goods-laden vehicles waiting for clearance.

The meeting was held under the chairmanship of Additional Collector Customs (Appraisement), Muhammad Rizwan.

The meeting held a threadbare discussion on the slow clearance process of trucks, causing delays in the transportation of consignments besides the return of empty containers, ensuing in financial losses to the business community of both countries.

Participants of the meeting decided to convey a message to Afghan side for reducing break period for clearance starting from 2:00 a.m to 10:00 a.m causing lining up of trucks on both sides.

Custom Clearing Agents were also asked to start GD (Goods Document) filing from early morning to ensure timely clearance of trucks. Additional Collector Customs, Muhammad Rizwan assured businessmen that a new scanner will be arranged till March of 2024 which will also help in early clearance of trucks.

Speaking on the occasion, Coordinator PAJCCI, Zia-ul-Haq Sarhadi appreciated the efforts of Custom Collectorate in arranging meetings of stakeholders of Pak-Afghan trade with the objective to streamlining of commerce and trade in the region. He lamented the delay by NLC in the completion of a new terminal at Torkhem as a result of which delays are faced in the clearance of trucks.

Zia said NLC had claimed completion of construction work in June 2023 but still the project is not completed.

He also demanded a revival of the issuance of a permit (Rahadari) of Rs. 5000 by a Political Agent for all the Afghanistan-bound trucks. After the extension of the district administration system to FATA, different departments have started collecting taxes under different pretexts from export and transit-bound trucks to Afghanistan, inflicting a financial burden on the business community, Zia complained.

Vice Chairman All Pakistan Customs Agents Association, Farooq Ahmad laid stress on the provision of reasonable time for implementation of the decision regarding the ban on the import of items from Afghanistan mentioned in the negative list.

Soon after deciding on the creation of a negative list, clearance of containers was stopped, affecting the business community whose goods had reached Karachi port or were in the pipeline.

[embedpost slug=”nepra-increases-tariffs-by-rs2-87-unit-for-karachiites”]

Read more

Business community is ready to stabilize economy: Governor Sindh  

Business
  • He said during a ceremony at Expo Centre Karachi.
  • More than 300 exhibitors are participating in this exhibition.
  • He said, “Pakistan has a lot of resources but we do not know direction.

KARACHI: Governor Sindh Kamran Khan Tessori has said that business community is ready to stabilize the national economy.

Sindh Governor Kamran Khan Tessori while addressing the “My Karachi Oasis of Colours Exhibition at Expo Centre, said that more than 300 exhibitors are participating in this exhibition. He said Siraj Qasim Teli started this exhibition in 2004.

He said, “Pakistan has a lot of resources but we do not know the direction at this time, I ask the rulers to tell our nation what the direction is, while our business community is ready to give stability to Pakistan.”

He said, “”We can do a lot as Allah has blessed us everything, we become good doctors and engineers but we should become good human beings.”

He also said “today I wonder what would have happened if there were no welfare institutions in the country and the middle class has disappeared today due to inflation, while the state has not been able to provide what it had to give.”

Kamran Tessori said that the city is under the control of mafias, whether it is garbage, electricity, gas or water, everything is scattered.

He said that let’s pledge that we will fight these mafias together.

[embedpost slug=”pm-ceo-qatar-investment-authority-discuss-investment-opportunities”]

Read more

President urges KATI to enhance women’s role in business sector

President urges KATI
  • President expressed these views during his visit to KATI on Saturday.
  • President said that businessmen played an important role in shaping business practices.
  • He said that persons with disabilities needed to employed in different sectors.

KARACHI: President Dr Arif Alvi has urged the Korangi Association of Trade and Industry (KATI) to enhance women’s participation in business sector and labour force as they could play an integral part in our society.

He called for taking practical and time-bound steps to increase women’s inclusion in the productive workforce and creating a safe, conducive, and women-friendly environment at the workplaces. The President expressed these views during his visit to KATI on Saturday.

Speaking on the occasion, the President said that businessmen played an important role in shaping business practices as well the opinion of society, and that they must set goals and directions in order to achieve the financial objectives of enterprises for economic prosperity, in addition to playing their role to make businesses dispense their responsibilities towards society.

He said that persons with disabilities (PWDs) needed to employed in different sectors of the economy, while also keeping in view their particular skill-set and the nature and extent of their disability.

While alluding to the economic success of emerging economy of Vietnam with intellectual resources in the IT sector, the President said that the intellectual and human resource development of nation must equally be focused on in addition to developing its natural resources.

He urged the business community to follow the path of the founder of Pakistan by pursuing the unity, faith and discipline to become successful in every walk of life and hoped that the business community would continue to strengthen economy of the country.

The President further said that it was encouraging that despite the challenges, Pakistan’s exports for the first time in history had touched US $ 30 billion mark and said that the government was committed to provide a competitive and fair business environment to entrepreneurs and had taken necessary steps to achieve the purpose.

He applauded the role of the business community towards the economic development of the country, especially after the post-COVID-19 era, where the business community not only followed the COVID-19 precautionary measures but also contributed towards economic growth.

 

[embedpost slug=”ceo-ruda-visits-ravi-to-overview-master-plan-2050″]

Read more

Business community playing effective role to enhance exports: president

President Alvi provides relief worth Rs1.9 m to bank fraud victims

ISLAMABAD: President Dr Arif Alvi has lauded the business and traders’ community for playing an effective role in enhancing exports of the country and economic stability. Addressing the 9th Federation of Pakistan Chambers of Commerce and Industry Achievements Awards in Karachi, he said it was a prime responsibility of the government to provide facilitates to … Read more

Businessmen say industrial package to attract $5 billion investment

industrial package

KARACHI: The business community said that the Prime Minister industrial package will attract new investment of $5 billion alone in the industrial sector, a statement said on Thursday. The package will provide impetus to the economic growth in the country and lead Pakistan towards prosperity through industrialisation. The FPPCI’s Businessmen Panel (BMP) ruling group Chairman … Read more

Businessmen criticise imposition of tax on seeds import

seeds import

KARACHI: The government should reconsider the decision of imposing sales tax on companies involved in the research and development of hybrid seeds locally, an official said. United Business Group (UBG) leader, member of the Lahore Chamber of Commerce and Industry (LCCI) Executive Committee, Guard Group Senior Executive Momin Ali Malik added that the rising electricity … Read more

LCCI for good use of opportunities to lift Pak-Iran trade

Pak-Iran trade

LAHORE: There is a need to enhance trade volume between Pakistan and Iran by making good use of opportunities provided by large domestic markets and unique geo-strategic competitive advantages of both countries, an official said. A trade delegation of Lahore Chamber of Commerce and Industry (LCCI), led by its President Mian Nauman Kabir had a … Read more

Businessmen demand representation in government bodies

LCCI

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has urged the government to ensure adequate representation of the private sector in all important bodies, a statement said on Monday. “Only public-private partnership can make a breakthrough on the economic front. Therefore, the government should take the business community onboard on all economic matters and … Read more

Businessmen demands restoration of 180 days period for export proceeds realisation

SBP

KARACHI: The business community has demanded the State Bank of Pakistan (SBP) to restore the 180 days period for realisation of export proceeds, a statement said on Friday. On January 5, 2022, the SBP amended the foreign exchange manual to reduce the number of days from 180 to 120 for the realisation of the export … Read more

Businessmen urged to contribute in education, health sectors

health sectors

LAHORE: Business tycoon, educationist and philanthropist Syed Babar Ali has urged the business community to come forward and play its due role in nation building, a statement said on Monday. Speaking at a ceremony at the Lahore Chamber of Commerce and Industry (LCCI), he urged the businessmen to contribute in education and health sectors. Ali … Read more

Employers resent raise in key policy rate

EFP

KARACHI: The Employers’ Federation of Pakistan (EFP) is completely perplexed by the central bank’s action towards the recent interest rates, a statement said. EFP president Ismail Suttar said that the State Bank’s action to increase the level of already augmented interest rates proves that there is an absolute uncertainty about the correlation between inflation and … Read more

Sindh industries suffering gas closures: minister

Sindh

KARACHI: Provincial Minister for Industries and Commerce and Cooperative Department Jam Ikramullah Dharejo has said that due to incompetence and flawed policies of the federal government, industries in Sindh are in dire straits and facing gas shortages. Sindh should be provided its share of gas so that the wheel of industries can continue running, he … Read more

RSS ideology is an obstacle to peace in the region: FM Qureshi

RSS ideology is an obstacle to peace in the region: FM Qureshi

Foreign Minister Shah Mehmood Qureshi has said that Pakistan wants peace but the ideology of India’s Hindu extremist organization RSS is an obstacle to peace in the region. Addressing the Pakistani business community in Bahrain, Foreign Minister Shah Mehmood Qureshi said that the foundation for a fundamental change in foreign policy had been laid. Shah … Read more

FPCCI resents shifting federal excise duty into sales tax regime

FPCCI

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Friday resented the government move to shift the collection of the federal excise duty into the sales tax regime, a statement said. FPCCI acting president Nasir Khan said that the business community of Pakistan is against the unbalanced policies that have been in … Read more

Karachi observes strike today over Maulana Adil’s murder

Karachi

Traders kept business closed in Karachi today after the strike was called by Karachi Ulema Committee over the murder of Jamia Farooqia’s Maulana Adil Khan in the city, last week. According to the details, Maulana Adil Khan and his driver were killed in an attack by unidentified men in city’s Shah Faisal Colony on October 10. … Read more

Prime Minister has no interest in Sindh province says Saeed Ghani

Saeed ghani

Provincial Education Minister Saeed Ghani has said that Prime Minister Imran Khan has no interest in Sindh. Addressing a rally against power and gas load shedding in Karachi, Ghani said that the Prime Minister did not meet or inspect the flood victims in Sindh. Saeed Ghani said that the gas crisis in the city is … Read more

Business community and Govt must work together says Abdul Hafeez Shaikh

Abdul Hafeez Shaikh media briefing

Adviser to Prime Minister Imran Khan on Finance and Revenue, Abdul Hafeez Shaikh has said that the Federal Board of Revenue FBI is working hard to make the tax paying system more transparent. Addressing on Friday, Abdul Hafeez Shaikh said that the tax system is being automated. The audit system is being computerized. He said … Read more

Govt working on plan to address grievances of business community

Govt working on plan to address grievances of business community

A delegation of Federation of Pakistan Chambers of Commerce and Industry, in the lead of its regional chairman Dr. Mohammad Arshad held a meeting with Punjab governor Ch Sarwar here at Punjab Governor’s House to apprise him about the issues of the business community. Besides the regional chairman, the delegation was included FPCCI vice president … Read more

Lahore Business Community announces to reopen markets on Friday

Lahore

The business community in Lahore termed the smart lockdown as a conspiracy against the economy and announced the reopening of closed markets from July 3. According to the community statement, their business was being ruined due to the smart lockdown and the markets should be reopened immediately. They said he would reopen closed inner-city markets … Read more

Abdul Hafeez Shaikh assures business community of his full support

Hafeez Sheikh

Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh Wednesday directed the Federal Board of Revenue (FBR) Chairperson to expedite the process of refunds so that the business community was provided with maximum relief.   Chairing a meeting here at the Finance Division through video link with the business community, the … Read more

Pak-Turk trade to increase up to US$ 2 billion: Business community hopes

Business

Veteran trade leader and Central Chairman United Business Group Iftikhar Ali Malik  termed the visit of Turkish President Tayyip Erdogan to Pakistan a golden opportunity to enhance trade and business relations among Pakistan and Turkey. While talking to a delegation of Turkish traders he expressed hope that the trade volume between the both countries can … Read more

Traders announce two-day shutter down strike

Traders observe to-day shutter down strike

Two-day shutter down strike is underway by the business community and traders across the country against the government’s enforcement of taxes and the condition of identity cards. Karachi, Lahore, Islamabad, Rawalpindi and Faisalabad are important markets in all the major cities, sources said. In Karachi, several markets and bazaars have been called by the Electronic … Read more

We have to control menace of corruption in Pakistan: PM

Prime Minister Imran Khan inaugurates China-Hub Power Generation Plant in Baluchistan

Prime Minister Imran Khan has said that menace of corruption is the biggest obstacle in investment. On the occasion of China Hub Power Plant in Baluchistan, the Premier said that this project is the first joint project of China Pakistan Economic Corridor (CPEC) and we are moving towards the second phase of CPEC. He further … Read more

NAB sets up a committee to resolve trader community’s complaints

NAB Lahore

National Accountability Bureau (NAB) has formed six-member committee to address the reservations of business community here on Monday. The committee includes Vice President SAARC Chamber of Commerce and Industry Iftikhar Ali Malik, President Pakistan Federation of Chamber and Industry Daro Khan Achakzai, former President Bank Al-Falah Atif Bajwa, President Lahore Chamber and Industry Anjum Nisar, … Read more

PM Imran arrives Karachi on an official one-day visit

PM arrives Karachi on an official visit

Prime Minister Imran Khan arrives Karachi on a day-long visit here on Monday. The leaders of Muttahida Qaumi Movement Pakistan (MQM-P) and Grand Democratic Alliance (GDA) will also meet PM Imran Khan. GDA’s Moazzam Abbasi, who recently defeated Pakistan People’s Party (PPP) candidate in Larkana by-election, will also attend a meeting with the premier. Imran … Read more