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Business Leaders Plead for Income Tax Deadline Extension to October 31
The Lahore Chamber of Commerce and Industry (LCCI) is urgently demanding the government extend the income tax return filing deadline from September 30 to October 31. Citing disruptions from devastating floods and major technical issues with the FBR's online system, the LCCI warns that without an extension, many honest taxpayers face unjust penalties. The business body insists the move is vital for compliance and relief.
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Islamabad IT Park Nears Completion, Set to Unlock 10,000 Tech Jobs
The Islamabad IT Park, currently 71% complete, is scheduled to be largely finished by December 31, 2025. Funded by a $76.3 million loan from South Korea, the new 12-story facility is a critical step in the "Digital Pakistan" vision. It is expected to create 10,000 job opportunities, house around 120 startups, and serve as a national hub to boost technology transfer, R&D, and IT exports.
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Islamabad's $76M IT Park Nears Completion
Islamabad's new $76.3 million IT Park is now 71% complete and scheduled to open by late December 2025. Funded by a South Korean loan, the state-of-the-art hub is a key part of the 'Digital Pakistan' vision, promising to generate 10,000 jobs and significantly boost IT exports by hosting up to 120 start-ups and SMEs.
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Individuals Hold Nearly Half of Pakistan's Bank Deposits
New data from the State Bank of Pakistan shows that individuals now hold almost 50% of the country’s total bank deposits. As of August 2025, total deposits reached Rs. 33.8 trillion, with 49.4% (over Rs. 16 trillion) belonging to ordinary citizens. This highlights the dominant role of households in Pakistan’s financial system, with the private business sector and government holding a much smaller share.
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RDA Adopts Digital Payments with New SAP ERP System
The Rawalpindi Development Authority (RDA) has signed a Memorandum of Understanding (MoU) with the Financial Accounting and Budgeting System (FABS) to launch the SAP Enterprise Resource Planning (ERP) system. This new system will digitize and automate all of the RDA’s financial transactions, including budgeting and payments. The move is aimed at enhancing transparency, efficiency, and accountability, in line with the government’s vision for e-governance.
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CDA Wraps Up Six Key Projects Worth Rs. 23 Billion in a Year
The Capital Development Authority (CDA) has completed six large-scale development projects over the past year, valued at an estimated Rs. 23 billion. The completed projects include the Jinnah Square Interchange at Serena and Jinnah Convention Chowks, the Jinnah Square Murree Road Interchange, and the Tayyip Erdogan Interchange. Additionally, the CDA widened and rehabilitated Park Road, renovated the Convention Centre, and constructed new parking plazas in commercial areas. Work is also underway on the T-Chowk Flyover.
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Signal-Free Peshawar Road: Rawalpindi to Get Three Underpasses
Rawalpindi is getting three new underpasses on Peshawar Road, a Rs6 billion project approved by the Punjab government. The underpasses—located at Race Course Park, Army Graveyard, and Chairing Cross—will create a signal-free corridor from Katcheri Chowk to Motorway Chowk, aiming to reduce travel time to 20 minutes. Construction is set to begin next month.
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