The Federal Board of Revenue (FBR) has proposed drastic changes to the Export Finance Scheme (EFS) to prevent misuse of the facility and tighten tax enforcement. At the outset, the FBR proposed withdrawing the facility for iron and steel scrap importers. The amendments were introduced through SRO204 of 2025 in the Customs Rules 2001. The draft amendments will be finalised within seven days a
The government on Thursday hinted at higher electricity prices in the coming summer owing to lower-than-usual water availability for hydropower and the resultant greater dependence on imported fuels. During a public hearing on Rs2 per unit negative fuel cost adjustment (FCA) for electricity consumed in January, it was officially reported that a negative FCA of Rs1.23 per unit was currently (bi
The Pakistan Stock Exchange (PSX) faced selling pressure on Wednesday due to uncertainty surrounding tax reforms ahead of the first review under the $7 billion Extended Fund Facility, with the International Monetary Fund (IMF) team arriving next week. Topline Securities Ltd noted that after two days of strong buying by local mutual funds, the market took a breather as investors opted for profit
US President Donald Trump said Wednesday that tariffs on EU products would be 25 percent in general, and signaled that duties on Canada and Mexico will take effect in early April. Speaking at a cabinet meeting, Trump described the EU — whose creation was encouraged for decades by Washington — as rooted in an attempt to counter the United States. “Look, let’s be honest, the Europea
Various community development projects, including in the health and education sectors, were discussed during a meeting between a leading businessman and the representatives of Reko Diq Mining Company (RDMC) on Wednesday. Farooq Khilji, a former president of Quetta Chamber of Commerce and Industry (QCCI), and Ashley Price and Mr Ahmer of RDMC explored the possibility of collaboration bet