Dawn Business (2025)

17/07/2025

President of the Karachi Chamber of Commerce and Industry (KCCI), Muhammad Jawed Bilwani, on Wednesday categorically denied rumours of any postponement or cancellation of the nationwide strike scheduled for July 19, affirming that the shutdown will proceed as planned.

The KCCI has installed hoardings and billboards across major arteries of Karachi announcing the complete strike, with slogans demanding respect for taxpayers “instead of handcuffs”.

Despite the formation of a high-level committee by Finance Minister Muhammad Aurangzeb to hold consultations with traders on budgetary measures aimed at documenting the economy, the KCCI leadership remains resolute in its decision. The committee, comprised of multiple stakeholders, has been tasked with conducting a 30-day consultation process to formulate a consensus-based proposal for submission to Prime Minister Shehbaz Sharif and the federal cabinet.

Read more: https://www.dawn.com/news/1924723/businesses-gear-up-for-nationwide-strike

17/07/2025

The Pakistan Stock Exchange (PSX) on Thursday continued its renewed bullish momentum as it crossed the 138,000 points during intraday trade.

The benchmark KSE-100 index rose by 1,785.25 points, or 1.31 per cent, to stand at 138,165.21 points at 11:57am, from the previous close of 136,379.96 points.

The PSX had staged a modest recovery yesterday as investors resumed buying, encouraged by the formation of a high-level committee to address the business community’s concerns over the recently introduced taxation measures.

Read more details: https://www.dawn.com/news/1924775/psx-reaches-new-intraday-peak-of-138000-points

16/07/2025

The federal government on Tuesday hiked the price of petrol by Rs5.36 per litre and that of high-speed diesel (HSD) by Rs11.37 for the next fortnight.

A press release from the Finance Division said the revised prices were based on recommendations by Ogra and concerned ministries.

The new petrol price is Rs272.15 per litre and Rs284.35 for HSD.

The press release did not mention any changes in the prices of kerosene and light diesel oil.

Read further details: https://www.dawn.com/news/1924403/govt-hikes-petrol-price-by-rs536-high-speed-diesel-by-rs1137

15/07/2025

The Asian Development Bank (ADB) has advised the government to implement a uniform 5 per cent general sales tax (GST) for all digital transactions to encourage nationwide adoption of digital payments and e-commerce platforms, reducing cash-related inefficiencies and documenting the economy.

In its latest report on Pakistan’s Digital Ecosystem issued yesterday, the ADB cautioned that steep and inconsistent taxes on digital infrastructure in the country pose a serious risk to foreign investment, growth, and the expansion of digital services.

“Pakistan’s digital infrastructure faces a major challenge from high taxation. Taxes on this sector, both federal and provincial, are some of the highest globally and regionally, and the tax policies tend not to be very consistent,” the report said.

Read more: https://www.dawn.com/news/1924365

15/07/2025

Editorial: The economy has no doubt stabilised in the last year. Headline inflation is down, the fiscal deficit has been reduced, the exchange rate remains stable, and so on. Much credit goes to the IMF programme for this stability. But a lot of this stability and improved fundamentals is owed to lower global oil and commodity prices, and soaring inward remittances — not just the implementation of the IMF plan.

Read the full editorial: https://www.dawn.com/news/1924301

15/07/2025

Tesla unveiled its first showroom in India on Tuesday, marking its entry into the world’s most populous country, as Elon Musk’s electric vehicle company seeks new customers amid sagging sales in the United States and Europe.

The store opened its doors to select visitors after its inauguration by Maharashtra state chief minister Devendra Fadnavis in India’s financial capital Mumbai.

Tesla has for years signalled its interest in India but held back due to the country’s steep tariffs on electric vehicles.

Read more here: https://www.dawn.com/news/1924346/tesla-marks-india-entry-with-first-showroom-pricey-70000-model-y

15/07/2025

The Pakistan Stock Exchange (PSX) continued its upward trajectory on Tuesday to cross the 137,000 barrier in intra-day trading, amid continued investor optimism and improved economic outlook.

The benchmark KSE-100 index rose by 1,237.03 points, or 0.91 per cent, to stand at 137,739.56 points at 11:39am, from the previous close of 136,502.53 points.

The market opened on a positive note, rising by 1,205.1 points, or 0.88pc, from yesterday’s close to reach 137,707.63 points at 9:45am. It then dropped to 136,498.16 points at 10:15am before regaining its bullish momentum. The total volume of shares is 152m valued at Rs11.87bn.

Read more here: https://www.dawn.com/news/1924347/psx-breaches-137000-points-in-intraday-trade

15/07/2025

In a move to simplify tax filing procedures for the salaried class, the Federal Board of Revenue (FBR) has introduced a new interactive return form, which will incorporate an auto-fill system that seamlessly integrates data about purchases, asset details and tax deductions at source etc. — ultimately generating a single-form return upon completion.

The new return form is currently available in English, while the Urdu version is set to come out by the end of this month.

During the first rollout phase, the form will also be available in two regional languages, Sindhi and Pashto. More versions in regional languages — Punjabi and Balochi — are expected to be rolled out subsequently.

Under the Income Tax Ordinance, individual taxpayers are required to file their returns by September 30.

Read more: https://www.dawn.com/news/1924287/automated-tax-filing-system-rolled-out-for-salaried-class

14/07/2025

Finance Minister Muhammad Aurangzeb on Monday said that the additional powers granted to the Federal Bureau of Revenue (FBR) had nothing to do with income tax.

The expanded enforcement powers for the FBR include the authority to block high-value financial transactions by non-filers — such as vehicle and property purchases, investment in securities and mutual funds, and opening certain prestigious bank accounts — along with powers to seal unregistered business premises, confiscate goods and recover taxes from firms, including those in the public sector. The move has generated criticism from many quarters.

Addressing the matter in a press conference in Karachi today, Aurangzeb said, “I think there is something to understand about what the existing law was at the time. The first thing to understand is that it has no relation to income tax. This whole issue is a sales tax fraud issue.”

Read more: https://www.dawn.com/news/1924164

14/07/2025

The Pakistan Stock Exchange (PSX) opened the trading week on Monday on a positive trajectory, crossing the intraday high of 135,000 due to increased investor sentiment and improved economic outlook.

The stock market resumed trading at 134,299.76 points and gained 1,170 points in early trading to cross the 135,000 points barrier. The benchmark KSE-100 gained 1841.11 points (1.37pc), and is currently trading at 136,119.27 points as of 12:15pm. The total volume of shares traded is 134,882,053 with a value of Rs 11.12 billion.

Prime Minister Shehbaz Sharif expressed satisfaction as the stock market surged to cross the all-time high level.

Read more: https://www.dawn.com/news/1924128

14/07/2025

Editorial: The call for a nationwide strike on July 19 by leading trade associations against tax enforcement and compliance measures introduced in the FY26 budget highlights strong resistance from the trading class to become part of the documented economy and pay their due.

The call is backed by major chambers of commerce and industry, as well as other leading trade bodies. For what it’s worth, the Federation of Pakistan Chambers of Commerce and Industry too has threatened to join the protest unless the government revokes what its leaders have termed ‘anti-business budgetary measures’. The opposition to the new measures cuts across the political divide among traders, underlining a wider consensus against documentation.

Read the full editorial: https://www.dawn.com/news/1924066/tax-unrest

13/07/2025

An International Monetary Fund (IMF) representative hailed Pakistan’s “strong” economic reforms carried out under the lender’s $7 billion loan programme, the Sustainable Development Policy Institute (SDPI) said on Sunday.

Pakistan had secured a three-year aid package deal in July 2024. The programme, approved by the IMF two months later, is set to allow the country to “cement macroeconomic stability and create conditions for stronger, more inclusive and resilient growth”.

IMF’s Resident Representative for Pakistan Mahir Binici noted that the country’s performance under the 2024 Extended Fund Facility (EFF) had been “strong so far”, according to a press release issued by the SDPI on its guest lecture in Islamabad.

Read more: https://www.dawn.com/news/1923927

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