Business
Govt limits FBR to tax collection, strips policy role under IMF condition | The Express Tribune
Tax Policy Office activated within the Ministry of Finance as part of structural reforms
ISLAMABAD:
The federal government has implemented another condition set by the International Monetary Fund by curtailing the powers of the Federal Board of Revenue, which will now function solely as a tax collection agency rather than a policymaking body.
The government has activated the Tax Policy Office within the Ministry of Finance as part of the IMF’s structural reforms. With this move, the authority to formulate tax policies has been transferred from the FBR to the new office.
According to official sources, Dr Najeeb Ahmed Memon has been appointed as the head of the Tax Policy Office for a two-year term, while several other key appointments have also been finalised. Naeem Hasan has been named Director Business Taxation, Fida Muhammad as Director International Taxation, Munir Ahmed as Director Direct/Indirect Taxation, and Ijaz Hussain as Director Personal Taxation.
All officials will serve under a Special Professional Pay Scale (SPPS). Sources said, the Tax Policy Office will become fully operational next week, after finalising its rules and regulations.
According to the Finance Ministry, the new office will be responsible for framing policies related to income tax, sales tax, and federal excise duty, while preparations for tax policies for the 2027 fiscal year will begin next week.
Business
Wealth outlook: India set for multi-trillion-dollar expansion; MoSL sees $12 trillion value boost ahead – The Times of India
India is poised to enter a decisive phase of economic expansion that could redefine long-term wealth creation, according to Motilal Oswal Financial Services’ 30th Wealth Creation Study, which projects a sharp acceleration in the country’s economic and consumption landscape over the next 17 years, ANI reported.The study draws a parallel with the last growth cycle, when India’s GDP expanded fourfold from $1 trillion in 2008 to $4 trillion in 2025, and says a similar trajectory could take the economy to $16 trillion by 2042. Unlike the previous phase, which added $3 trillion in absolute GDP, the next leg is expected to add $12 trillion, signalling what the brokerage terms a much stronger wealth-effect that could significantly lift consumption, investment and corporate profitability.A major pillar of this expansion is expected to be the financial services ecosystem, with cumulative household savings estimated at $47 trillion over the period. Banks, NBFCs, insurers, AMCs, wealth managers, capital market platforms and other intermediaries are expected to play a central role in channelling these savings into productive financial assets as households move further towards formal wealth creation avenues.Per capita income, currently around $2,600, is projected to quadruple to $10,400 by 2042, pushing millions of Indians into higher consumption brackets. The study says this transition will strengthen discretionary categories including white goods, food-tech platforms, quick commerce, healthcare, travel, telecom and allied services, accelerating the shift from necessity spending to lifestyle-driven consumption.On automobiles, MoSL highlights significant headroom for growth. Penetration levels of cars, SUVs, two-wheelers and three-wheelers remain well below those of peer economies with similar income levels. As affordability improves and financing deepens, ownership ratios are expected to rise across cities and semi-urban markets.Real estate is also set to be a key beneficiary, with strong demand expected for credible developers, particularly in the premium and luxury segments. Rising household wealth, better affordability and higher preference for quality housing are likely to sustain sectoral momentum.Overall, the study notes that the next 17 years could mark a step-change in India’s economic and wealth trajectory. With expansion taking place on a much larger base, the impact of the wealth-effect is expected to be far deeper than previous cycles, creating long-term opportunities across financial services, consumption-led industries, automobiles and real estate.
Business
Work-life balance push: Right to Disconnect Bill sparks corporate debate; firms say boundaries help but flexibility key – The Times of India
The Right to Disconnect Bill, 2025 — a private member’s bill introduced in Parliament last week — has reopened the conversation on work-life boundaries, even though experts say it is unlikely to become law anytime soon. The legislation, moved by NCP MP Supriya Sule, proposes giving employees the legal right to ignore work-related communication outside designated working hours. While private member’s bills seldom translate into statutes, they often succeed in spotlighting issues of public concern — and this one has already triggered strong reactions across India Inc, according to an ET report.Executives at Mercedes-Benz India, RPG Group, Bombay Realty (Wadia Group), Grant Thornton Bharat, TeamLease Services and Randstad India said the move underlines a growing cultural shift toward employee well-being. Several countries including France, Belgium, Ireland and Australia have already enacted similar rights, experts noted. “Its stated intent is broadly aligned with our approach to employee well-being in a holistic manner,” an RPG Group spokesperson told ET. The conglomerate has implemented flexible hours, hybrid models and firm boundaries such as CEAT’s 8 pm–8 am no-work window, no-work weekends and silent lunch hours. “We believe a happy work environment leads to happy employees, who in turn will deliver their best,” the spokesperson said, ET quoted.Mercedes-Benz India MD and CEO Santosh Iyer said the company’s hybrid working model — allowing employees to work from home twice a week — supports “quality time with family members” while maintaining accountability. “There is higher trust in hybrid culture,” he added. Randstad India CEO Viswanath PS described the proposed law as a “coming of age” moment for the Indian workforce. “This invites us to dismantle the ‘always-on’ habit,” he said, arguing that leadership must shift focus from “input metrics” like hours worked to “impact metrics”.Grant Thornton Bharat partner Priyanka Gulati said conversations with about 20 client organisations across sectors show broad support for clearer boundaries. “Self-accountability is more powerful in mature organisations where employees measure their energy, not just their hours,” she said. At the same time, she noted that companies expect employees to stretch when business demands it. TeamLease Digital CEO Neeti Sharma said defined hours — 9 am to 6 pm, Monday to Friday — act as a helpful baseline, particularly for dispersed teams. “Companies also need flexibility for global collaboration, time zones and project-based work,” she said.Experts stressed that young professionals often hesitate to say no, which makes clearer norms important. Lydia Naik, Group CHRO at Bombay Realty (Wadia Group), said there is “no one-size-fits-all” for work hours. “What truly matters is the quality of work, personal balance and ensuring workloads are realistic,” she said. Despite the bill’s uncertain legislative future, the renewed debate suggests a shift in how Indian workplaces view well-being, productivity and boundaries — with corporate India acknowledging that the era of being perpetually “online” may be nearing its end.
Business
Stanbik Agro IPO: Ahmedabad-Based Fruit Supplier Launches Rs 12.28-Crore SME IPO
Last Updated:
Stanbik operates seven retail stores in Gujarat, all run from leased premises including its registered office, godowns and agricultural lands.
Stanbik Agro IPO.
Stanbik Agro IPO: Ahmedabad-based fresh fruits and vegetables supplier Stanbik Agro Ltd, led by father-son duo Ashok and Chirag Prajapati, has launched a Rs 12.28-crore SME IPO to fuel a major retail push across Gujarat. The issue opened on December 12 and will close on December 16.
Incorporated in 2021, the company plans to use the proceeds to open 20 new outlets and strengthen working capital as it scales its farm-to-market model. Currently, Stanbik operates seven retail stores — one in Gandhinagar and six in Ahmedabad’s Chandranagar, Odhav, Narol, Vejalpur and Vasna areas — all run from leased premises, including its registered office, godowns and agricultural lands.
Managing director Ashok Prajapati, 48, said the listing marks a key step in professionalising the business. “With time, one need to change and set up new systems if one needs to expand the business. The listing will enhance our company’s corporate image, brand name and create a public market for its Equity Shares in India. It will also make future financing easier and affordable in case of expansion or diversification of the business. Further, listing attracts interest from institutional investors as well as foreign institutional investors,” he said, according to businessline.
Post-issue, promoter holding will fall from 98.92 per cent to 68.54 per cent.
20 New Outlets, All Within 30 Km of Ahmedabad
Stanbik plans to open 20 new retail stores — 15 in Ahmedabad and five across other parts of Gujarat — each with a built-up area of about 900 to 1,000 sq.ft. Prajapati said the expansion will remain geographically tight to protect product quality and logistics efficiency.
“We plan to set up the new retail outlets within a 30 kilometer radius of Ahmedabad. Fruits and vegetables being perishable items, we want to restrict ourselves to a network which is closer to our supply chain in Ahmedabad. We source fruits and vegetables from farmers and APMCs in Gujarat, Rajasthan and Maharashtra,” he said.
Nearly 100% Revenue Growth in FY25
Stanbik Agro posted Rs 52.5 crore in revenue from operations in FY 2025, a sharp 98 per cent jump from Rs 26.5 crore in FY 2024. Net profit stood at Rs 3.74 crore for the year.
Beyond retail customers, the company supplies fruits and vegetables to wholesalers, traders and institutional buyers, and also services bulk orders on major B2B e-commerce platforms. It has additionally entered into arrangements with farmers for contract farming of crops such as sesame, cumin and cotton.
As of November 30, 2025, its order book stood at Rs 16 crore, consisting of confirmed purchase orders expected to be fulfilled within the current financial year.
Competition Remains Tough
Despite strong growth, the company acknowledges the competitive pressures it faces. In its prospectus, Stanbik notes that it competes with large agribusinesses and multinational supply-chain players equipped with advanced logistics, cold-storage infrastructure and expansive distribution networks.
December 14, 2025, 15:16 IST
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