The Sindh High Court (SHC) directed the Federal Board of Revenue (FBR) chairman on Wednesday to file a specific reply in a set of petitions impugning the imposition of additional customs duty on the automobile industry. A two-judge constitutional bench of SHC headed by Justice Agha Faisal said that prima facie, the inconsistency of initial positions taken by the departments concerned and the su
A significant improvement in the external account has brightened Pakistan’s chances of reentering the international capital market soon as the 10-year benchmark bond yields fell to a three-year low in single digits on Feb 21. However, the government did not launch more bonds to raise dollars from the international market despite this encouraging development, said market sources. “The yield o
The ongoing crisis at the Pakistan-Iran border has again become the focal point of debate before the Senate Standing Committee on Finance, overshadowing the discussion on the Tax Amendment Bill 2025. Over 600 trucks, laden with trade goods, remain stuck at the border, a situation exacerbated by customs officials demanding court orders before allowing the goods to pass, an Iranian embassy repres
The United States has dramatically cut the budgets of overseas development and aid programs, with multi-year contracts pared down by 92 per cent, or $54 billion, the State Department said Wednesday. On his first day in office, US President Donald Trump signed an executive order demanding a freeze on all US foreign aid for 90 days. The pause aimed to allow the administration to review overseas s
As the federal government and millers plan to provide sugar at Rs130 per kg nationwide, the wholesale price of the sweetener continues to rise ahead of Ramazan. Retailers in Karachi are already charging Rs160 per kg, saying that they could not sustain frequent hikes in wholesale rates as the 50 kg bag price has continuously risen by Rs150-200 per bag for the last few days. Karachi Wholesaler