ISLAMABAD: Pakistan’s tax authority unveiled a draft scheme on Tuesday that would let small shopkeepers pay a flat 1% levy on turnover in exchange for freedom from routine audits and digital invoicing requirements, the latest attempt by the government to widen a tax base that has long relied on a narrow slice of compliant filers.
Economy
Pakistan stocks post steepest drop in months as Hormuz blockade returns
KARACHI: Pakistani stocks suffered their sharpest one-day selloff in months on Tuesday, as investors dumped equities across the board after US President Donald Trump reinstated a US naval blockade of Iran and floated a 20% toll on cargo passing through the Strait of Hormuz, one of the world’s most critical energy corridors.
Pakistan mulls move to daily fuel pricing as Hormuz crisis roils oil markets
ISLAMABAD: Pakistan is considering moving to daily or twice-weekly reviews of petrol and diesel prices, as the government scrambles to insulate consumers from a renewed spike in global oil prices triggered by the closure of the Strait of Hormuz.
Pakistan mandates battery storage in first competitive power auction after 30-year wait
ISLAMABAD: Pakistan’s power sector regulator is being asked to approve mandatory battery storage requirements for a landmark competitive electricity auction, as the government moves to address grid instability caused by the rapid growth of solar power, Dawn newspaper reported on Tuesday.
Pakistan car sales accelerate as buyers rush to beat budget tax rises
KARACHI: Pakistan’s automotive industry closed the 2026 financial year with its strongest performance in years, as falling interest rates, a raft of new model launches and a late rush of pre-budget buying combined to lift sales across almost every category of vehicle.
Pakistan narrows mobile internet gender gap to 8 percent – but ownership divide remains widest globally
ISLAMABAD: Pakistan has recorded the fastest reduction in its mobile internet gender gap of any country tracked globally, according to the government, narrowing the divide between men’s and women’s usage from 38 percent in 2024 to 8 percent this year.
Inquiry finds contractor, consultant, and Wapda all responsible for dam collapse that tripled Tarbela-5 project’s cost
ISLAMABAD: A government-appointed inquiry has concluded that a contractor, its consultant, and the state authority overseeing a major Pakistani hydropower project all bear responsibility for the collapse of a cofferdam last year, an incident that has added more than two years to the project’s timeline and driven its cost up by nearly 285 percent, according to a report published by Dawn newspaper on Monday.
Pakistan defends Eurobond pricing after lawmaker challenges bank selection
ISLAMABAD: Pakistan’s finance ministry rejected allegations of irregularities in the country’s recent sovereign bond sales, pushing back against a lawmaker’s claim that officials passed over a more favourable Citigroup Inc. offer in favour of banks selected without competitive bidding.
LPG industry warns of shortage, threatens strike over pricing dispute
LAHORE: Pakistan’s liquefied petroleum gas industry escalated a monthslong dispute with federal regulators this weekend, with importers warning of an imminent nationwide shortage and more than 1,000 industry representatives threatening to shut down operations entirely if their demands are not met within three days.
Pakistan’s crypto regulator meets top cleric to defend digital assets push
ISLAMABAD: Pakistan’s top digital-assets regulator met with one of the country’s most influential Islamic scholars over the weekend, seeking to contain fallout from a religious ruling that cast doubt on the legitimacy of cryptocurrency under Shariah law just as the South Asian nation races to build out a regulatory framework for the industry.