The regulator has established a dedicated facilitation desk on the directions of Minister of State for Finance Bilal Azhar Kayani, with SECP Chairman Dr. Kabir Ahmed Sidhu overseeing the initiative. The desk will assist steel businesses with company incorporation and ensure faster processing of conversion applications.

Under the Finance Act, 2026, the federal government amended the Second Schedule of the Income Tax Ordinance, 2001, making company registration a requirement for steel businesses seeking certain tax incentives. As a result, steel mills operating as Associations of Persons (AOPs) or other unincorporated entities will face a higher tax burden than SECP registered companies.

The Pakistan Association of Large Steel Producers (PALSP) approached the SECP after the amendments, seeking guidance on converting steel sector AOPs into companies.

According to the SECP, company incorporation is conducted entirely through a digital process that includes user registration, name reservation, submission of a digitally signed application, and payment of the prescribed fee. The regulator said companies can be incorporated within four hours, provided all required documents are complete.

The SECP currently incorporates more than 3,500 companies every month and, in collaboration with the Federal Board of Revenue (FBR), will hold an awareness webinar on July 8 to guide steel businesses through the conversion process under the new tax regime.

The post SECP Launches New Plan to Help Steel Industry Avoid Higher Taxes appeared first on ProPakistani.

Sources via official correspondence confirmed that the 1-2 percent reduced sales tax exemptions on hybrid electric vehicles under the previous fiscal year’s sunset clause were not extended in the Finance Act that came into effect on July 1, 2026.

Before the budget was enacted, there were expectations that the concession would continue into the new fiscal year. However, the final law contains no provision to extend the reduced sales tax regime for hybrid vehicles.

Sources directly stated that hybrid vehicles are now subject to the accumulated impact of multiple indirect taxes, including the withdrawal of the reduced sales tax and the applicable Federal Excise Duty (FED) on imported vehicles.

The combined effect pushes the overall indirect tax incidence on imported hybrid vehicles to around 25 percent.

The increase is expected to make imported hybrid vehicles significantly more expensive, reversing part of the tax advantage that had encouraged consumers to shift towards fuel-efficient and lower-emission vehicles.

The post Hybrid Cars Face 25% Additional Tax After Budget 2026-27 appeared first on ProPakistani.

The government urged vehicle owners to pay their token tax before the deadline to benefit from the discount, avoid late payment penalties, and remain compliant with government regulations.

Punjab Information Technology Board (PITB) Chairman Faisal Yousaf said the e-Pay Punjab platform provides a modern, secure, and transparent system for making government payments. He added that the initiative supports the Punjab government’s vision of digital governance by making public services more accessible, convenient, and efficient.

Citizens can pay their Motor Vehicle Token Tax through the e-Pay Punjab platform before the August 31 deadline to avail themselves of the 10% discount.

The post Punjab Announces Discount on Motor Vehicle Token Tax appeared first on ProPakistani.

The clarification came after a graphic circulating online claimed that the minister had ordered the closure of all tuition centers operating in residential areas following last month’s tragic roof collapse at a tuition academy in Lahore, which killed 14 children.

Responding to the claims, Rana Sikandar Hayat said the government has only decided to take action against unregistered tuition academies that fail to obtain the required fitness certificate.

The minister said academies operating without the mandatory fitness certificate will be closed from September. He added that the registration of tuition academies falls under the jurisdiction of the relevant deputy commissioners and that a province-wide survey of these institutions is currently underway.

Meanwhile, the minister’s Public Relations Officer (PRO), Noor-ul-Huda, also rejected the viral claim that the Punjab government had decided to shut down all tuition centers.

The post Punjab Clarifies Reports About Shutting Down All Tuition Centers appeared first on ProPakistani.

The Jetour T2 PHEV is powered by a 1.5-liter TGDI engine paired with a 3-speed Dedicated Hybrid Transmission (3DHT) and a front-wheel-drive (FWD) system. The hybrid powertrain produces a combined output of 360 horsepower and 610 Nm of torque.

The SUV features an 18.4 kWh lithium iron phosphate (LiFePO₄) battery, offering a claimed 90-kilometer pure electric range (NEDC) and a combined driving range of up to 1,100 kilometers. It also supports DC fast charging, allowing the battery to charge from 30% to 80% in approximately 30 minutes.

Measuring 4,785 mm in length, 2,006 mm in width, and 1,880 mm in height, the Jetour T2 PHEV has a 2,800 mm wheelbase and a 70-liter fuel tank. The SUV comes equipped with six driving modes including Normal, Sport, Economy, Snow, EV, and HEV, while safety equipment includes six airbags as standard.

Price and Booking

United Motors has priced the Jetour T2 PHEV at an ex-factory price of Rs. 12,795,000, with bookings now open against a booking amount of Rs. 2,500,000.

The company said deliveries are expected to begin in September. It also clarified that delivery responsibility will only apply if the pay order is issued in the name of United Motors Pvt. Ltd.

The post Jetour T2 PHEV Officially Launched in Pakistan appeared first on ProPakistani.

The order was passed during proceedings in Judicial Companies Miscellaneous No. 43 of 2026, in which the petitioners challenged the legality of the merger process.

ProPakistani has reached out to Quice Foods Limited for their official response on the matter. It will be added when received.

The dispute stems from an Extraordinary General Meeting (EGM) held on June 23, 2026, where Quice Food Industries announced that its shareholders had approved the merger with Indus Food Products.

However, the petitioners argued before the court that the merger allegedly did not meet the approval threshold required under Section 279(2) of the Companies Act, 2017, which mandates support from at least 75 percent of the company’s shareholders. They maintained that, since shareholders representing more than 26 percent of the company’s shareholding opposed the transaction, the required majority could not have been achieved.

The shareholders also alleged that they were prevented from casting their votes during the EGM and were deliberately excluded from the voting process, calling the proceedings unlawful.

The proposed merger has been the subject of multiple legal challenges in recent months. Earlier, another group of shareholders filed Judicial Companies Miscellaneous No. 29 of 2026, questioning the share-swap ratio approved by Quice Food Industries’ board and raising concerns over the transparency of Indus Food Products’ financial position.

With the latest court order, Quice Food Industries is barred from taking any further action on the merger until further directions from the Sindh High Court.

The post Sindh High Court Blocks Quice Foods Merger With Indus Food Products appeared first on ProPakistani.

Under the offer, buyers can own the Kia Stonic by making a down payment of Rs. 2,999,500, while the remaining amount can be paid through 18 monthly installments of Rs. 172,194. The company noted that the offer is subject to terms and conditions and may change in line with government duties and taxes.

The Kia Stonic is powered by a 1.4-liter MPI petrol engine mated to a 6-speed automatic transmission, delivering a balance of performance and fuel efficiency for urban and highway driving.

The crossover comes equipped with an 8-inch touchscreen infotainment system featuring wireless Apple CarPlay and Android Auto, along with a rear-view camera, cruise control, automatic climate control, and smart key with push start.

In terms of safety, the Stonic offers six airbags, Electronic Stability Control (ESC), Hill Start Assist Control (HAC), Vehicle Stability Management (VSM), ABS, and rear parking sensors. The vehicle also features LED headlamps, LED daytime running lights, and 16-inch alloy wheels, while the EX+ variant includes an electric sunroof.

The latest installment plan is aimed at making the Kia Stonic more accessible to buyers looking for a compact crossover with modern features and safety equipment without paying the full purchase price upfront.

The post Kia Announces 18-Month Installment Plan for Stonic appeared first on ProPakistani.

Among major brands, VGO Tel recorded the strongest growth during the first five months of the year, with production increasing 29 percent, followed by Tecno, up 24 percent, and Samsung, which posted 7 percent growth.

In contrast, production of Vivo, Itel, and Infinix declined 30 percent, 29 percent, and 19 percent, respectively.

Production rose from 1.81 million units in April, although cumulative output during the first five months of 2026 declined 7 percent year over year to 11.17 million units, compared with 12.05 million units produced during the same period last year.

A year-on-year comparison for May alone was not available because PTA reported April and May 2025 data on a combined cumulative basis.

Pakistan continued to meet most of its mobile phone demand through domestic production. Local manufacturing and assembly accounted for 86 percent of total mobile phone demand in May, up from 83 percent in April.

During the first five months of 2026, locally assembled and manufactured devices met 85 percent of the country’s total demand, reflecting the sector’s growing contribution to reducing reliance on imports.

The post Samsung Phone Production Rises in Pakistan, Vivo Suffers Worst Decline appeared first on ProPakistani.

Compared to Rs. 81.930 trillion in April 2026, the central government debt has increased by 0.02 percent month-on-month.

Also, compared to the May 2025 data, the national debt has been rising by Rs. 188,000 per second, or Rs. 16.23 billion per day.

Meanwhile, the Central Government Domestic Debt is up by 8.7 percent YoY to Rs. 58.107 trillion in May 2026.

Out of total domestic debt, the long-term public debt increased from Rs. 45.263 trillion to Rs. 47.297 trillion and the stock of short-term debt increased from Rs. 8.133 trillion to Rs. 10.734 trillion during the last year.

The post Pakistan’s Govt Debt is Rising by Rs. 188,000 per Second appeared first on ProPakistani.

In a statement issued on Monday, PSX released a concept paper outlining the proposed PSX Sustainability Index (PSI) and invited stakeholders to submit feedback by July 17, 2026. The exchange said the initiative marks an important step toward strengthening sustainable finance and improving ESG practices in Pakistan’s capital markets.

According to PSX, the index will identify listed companies that effectively manage financially material environmental, social, and governance risks and opportunities. The benchmark will use a total return methodology and apply sector specific weighting to ensure companies are assessed based on the ESG factors most relevant to their industries.

PSX Chief Executive Officer Farrukh Sabzwari said ESG considerations have become increasingly important in determining company valuations, capital allocation, and long term risk assessment. He said the proposed index aims to provide investors with a transparent and internationally comparable benchmark that recognizes companies building long term resilience.

The exchange said the index will benefit listed companies seeking greater visibility among responsible investors, while also providing institutional investors and asset managers with a credible benchmark for developing ESG focused investment products. It will also help investors identify companies with stronger sustainability practices and long term business models.

PSX said the consultation process is intended to ensure the index reflects Pakistan’s corporate landscape while encouraging gradual improvements in sustainability disclosures across industries. Stakeholders have been invited to submit written comments by July 17, after which the exchange will finalize the framework for the country’s first Sustainability Index.

The post PSX Unveils New Index to Rank Pakistan’s Top Companies appeared first on ProPakistani.