Pakistan’s Liquid Foreign Reserves Position
The total liquid foreign reserves held by the country stood at US$ 8,863.8 million as of 16-Jun-2023. The break-up of the foreign reserves position is as under: Foreign reserves held…
Assistance sought for encouraging firms to participate in Pakistan Investment Pipeline Program
KARACHI: A team of USAID comprising Mohsin Malik (FDI Mobilization Specialist) and Kamal Ali (lead Consultant on Pipeline Organization), while highlighting some salient features of Investment Pipeline Program under USAID…
Directorate of Intelligence & Investigation (Inland Revenue) Lahore Recovers Sales Tax Evasion Worth Billions of Rupees
LAHORE: The Directorate of Intelligence & Investigation (Inland Revenue) Lahore has detected sales tax evasion worth billions of rupees by a reputed company. The company had issued illegal credit notes…
FBR Holds Three Day International Conference
Federal Board of Revenue held three-day International Conference on Digitalization of Taxes in Pakistan at FBR Headquarters in collaboration with United Nations Economic and Social Commission for Asia and Pacific…
UNFPA 2023 State of World Population Report launched in Sindh
Launch of the State of World Population Report in Sindh: addressing inequalities in education, income, employment, gender, and digitalization is essential for population development: Karachi: The United Nations Population Fund…
Pakistan Cable Limited reports 28% decline in 9MFY23 profit and discusses future outlook
Pakistan Cable Limited (PCL), the country’s leading cable and wire manufacturer, has conducted its 3QFY23 analyst briefing to discuss its financial results and future outlook. The company reported a 28%…
PSO holds corporate briefing session to discuss 9MFY23 results and future outlook
Pakistan State Oil Company Limited (PSO), the country’s largest oil marketing company, held a corporate briefing session on 22nd June 2023 to discuss its financial performance of 9MFY23 and future…
30 Fabric, Garments and Leather Manufacturers will take part from Pakistan at Texworld/Apparel Sourcing Paris
KARACHI: The anniversary edition of Texworld Evolution Paris will take place this summer from 3 to 5 July 2023 at the Porte de Versailles Exhibition Centre. For the first time,…
Business community opposes increase in the salaries and allowances of Chairman Senate and others
KARACHI: United Business Group (UBG), the representative organization of Pakistan’s business community in FPCCI, in the Upper House of the Islamic Republic of Pakistan, has asked for the salaries of…
Customs officers clash with ASF staff at Karachi airport, association demands inquiry
Karachi: A scuffle broke out between customs officers and Airport Security Force (ASF) staff at Jinnah International Airport (JIAP) Karachi on 18th and 19th June 2023, resulting in injuries and…
Customs cracks down on misuse of Electronic Import Form by importers
KARACHI: Chief Collector South Ashad Jawad has commissioned an exercise to check the misuse of Electronic Import Form (EIF) and the mis-declaration of PCT code thereof of the imported consignments.…
I&I Karachi recovers food items, confectionary from M/s Agha Godown
KARACHI: I&I Karachi has recovered thousands of cartons of smuggled food items and confectionary from a warehouse at M.T Khan Road. Information was received to the effect that some unscrupulous…
Customs Enforcement Karachi recovers smuggled betel nut and Indian origin Gutkha worth Rs133.6 million
KARACHI: Customs Enforcement Karachi has recovered large quantity of smuggled betelnut and Indian origin Gutkha. Total value of the seized goods comes to Rs133.6 million. Information was received through Chief…
SBP issues revised Regulations for Electronic Money Institutions
KARACHI: State Bank of Pakistan has issued revised Regulations for Electronic Money Institutions (EMIs) with the aim to enhance outreach and scope of these innovative fintech-enabled payment companies. The updated…
Exporters already burdened with high manufacturing cost, facing export decline, reject additional tax
KARACHI: Value-Added Textile Exporters are highly perturbed and dissatisfied over proposed imposition of “Additional Tax on income, profits and gains” u/s 99D and have rejected it by terming “harsh” and…
General Sahir Shamshad Mirza to lead Pakistan-China Defence and Security Talks
Rawalpindi: General Sahir Shamshad Mirza, Chairman Joint Chiefs of Staff Committee (CJCsSC), is on an official visit to China from 18-22 June 2023 as head of delegation for Pakistan-China Defence…
MINERALS TO CHEMICALS: NOT A SECTOR OF CHOICE BUT A SECTOR OF NEED
It feels good to hear that the Government is taking fresh steps to revive the economy of Pakistan and Military forces are taking a lead in it. President Lasbela Chambers…
Public Holidays
The State Bank of Pakistan will remain closed on June 29 – 30, 2023 (Thursday & Friday) being public holidays on the occasion of Eid-ul-Azha.
Pakistan Technology – IT exports for May-23 jump amid higher working days; Up 24% MoM to US$236mn
Pakistan’s Information Technology (IT) exports for May 2023 increased by 24% MoM. Segment wise Telecom and Computer Services increased by 92% and 11% MoM. Among Computer Services, Export of Software,…
Customs Quetta seizes smuggled goods worth Rs300 million
QUETTA: In line with the directive of Member Customs Mukaram Jah Ansari and Chief Collector Baluchistan Mohammad Saleem, Customs Quetta is pursuing a rigorous anti-smuggling drive. The intensified efforts have…