June 28, 2026
Imports of bleached cotton fabric under the Export Facilitation Scheme surged more than 8,000 percent year-on-year in February, with the textile lobby alleging systemic misdeclaration is gutting the local industry.
Islamabad: In a startling revelation, the Federal Board of Revenue (FBR) had no idea about 55% of production lines in four industries that were prone to tax evasion at the time of awarding a multi-billion rupee contract three years ago, according to a survey it conducted the contractor after winning the contract. The government had awarded a Rs25 billion contract to Authentix Inc to monitor the production of about 290 lines of cement, fertilizers, sugar and tobacco. After winning the contract, the company found that there were about 649 production lines, according to people who conducted the survey and saw
Sources within the FBR suggest that the extent of the fraud could be even higher than the reported Rs 53 billion, a matter that can be ascertained during a comprehensive investigation. photo: AFP Islamabad: The Federal Board of Revenue (FBR) has rejected a proposal by the Industries Ministry that sought to impose a general sales tax (GST) of 18% on locally made cars, saying it will also lead to a reduction in tax collection. as a loss of revenue. The Directorate of Industries and Production has been asked to provide its opinion on streamlining the criterion for imposing 25% sales
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October 26, 2026
The Pakistan Daily
October 26, 2026
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