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  • Prices of essential items increase by 11.72 percent: PBS

    Prices of essential items increase by 11.72 percent: PBS

    KARACHI: The prices of essential items increased by 11.72 percent by week ended March 07, 2019 when compared with the same week last year, according to data released by Pakistan Bureau of Statistics (PBS) on Friday.

    According to Sensitive Price Indicator (SPI) all the income groups had witnessed inflation for the period.

    The PBS computes the weekly SPI with base 2007-2008=100 covering 17 urban centers and 53 essential items for all income groups / quintiles and combined.

    The statistics have shown that price of tomatoes posted 308 percent growth to Rs128.42 per kilogram for the week under review as compared with Rs31.42/kg in the corresponding week of the last year.

    The price of LPG cylinder grew by 19 percent for the period. While prices of High Speed Diesel, Petrol and Kerosene Oil witnessed increase in their prices by 13.13 percent, 5.57 percent and 6.8 percent, respectively.

  • Forex reserves increase by $140 million to $14.956 billion

    Forex reserves increase by $140 million to $14.956 billion

    KARACHI: Pakistan’s liquid foreign exchange (forex) reserves witnessed a notable increase during the week ended March 1, 2025, according to data released by the State Bank of Pakistan (SBP) on Thursday. The total forex reserves rose by $140 million, reaching $14.956 billion, compared to $14.816 billion recorded in the previous week.

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  • Company registration crosses over 95,500 by February

    Company registration crosses over 95,500 by February

    ISLAMABAD: Total company registration with Securities and Exchange Commission of Pakistan (SECP) has crossed 96,500 by end of February 2019.

    A statement issued by the SECP said that about 1,290 new companies were registered in February. As compared to the corresponding month of last financial year, it represents a growth of 26 percent raising the number of registered companies to 96,510.

    The massive increase is the result of the SECP’s various reforms measures, i.e. introduction of simplified combined process for name reservation and incorporation, one window facility for company incorporation and NTN generation, reduction of fee, assistance of incorporation by facilitation wings of CROs etc.

    Around 75 percent companies were registered as private limited companies, while around 22 percent were registered as single member companies. Three percent were registered as public unlisted companies and limited liability partnerships (LLP).

    The trading sector took the lead with the incorporation of 195 companies, construction with 166, services with 148, I.T. with 139, tourism with 119, food and beverages with 60, real estate development with 50, corporate agricultural farming with 45, education with 32, chemical, marketing and advertisement, and transport with 27 each, engineering, and fuel and energy with 24 each, pharmaceutical with 23, textile with 21, healthcare, and mining and quarrying with 20 each, communication with 15, auto and allied with 14, broadcasting and telecasting 13, logging 12, cables and electric goods with 11 and 58 companies were registered in other sectors.

    Foreign investment has been reported in 39 new companies. These companies have foreign investors from Argentina, China, Denmark, Germany, Jordan, Kenya, Korea South, Portugal, Russia, Singapore, Sweden and the US.

    The highest numbers of companies, i.e. 468 were registered in Islamabad, followed by 322 and 240 companies registered in Lahore and Karachi respectively.

    The CROs in Peshawar, Multan, Gilgit-Baltistan, Faisalabad, Quetta, and Sukkur registered, 81, 67, 45, 39, 24 and 4 companies respectively.

  • PM approves country’s first-ever National Tariff Policy

    PM approves country’s first-ever National Tariff Policy

    ISLAMABAD: Prime Minister Imran Khan on Wednesday approved the first-ever ‘National Tariff Policy’ which is aiming to improve competitiveness through access to raw materials, increase employment opportunities by attracting investment through transparent and predictable tariff regime.

    The draft policy, approved by the prime minister, would be presented before the Federal Cabinet for its consideration.

    Highlighting salient features of the policy, Secretary Commerce Mohammad Younus Dagha said that the major objectives of the National Tariff Policy (NTP), which has been drafted after detailed and comprehensive discussions with the stakeholders, is to improve competitiveness through access to raw materials, increase employment opportunities by attracting investment through transparent and predictable tariff regime and remove anomalies in tariff structure, causing distortions.

    Policy principles include tariff as a trade policy instrument, reducing exemptions and concessions, cascading tariff structures with stage of processing of a product, strategic protection to domestic industry and competitive import substitution.

    The new policy also envisages establishment of a broad-based Tariff Policy Center in the Ministry of Commerce to formulate proposals for improving tariff structure in pursuance of the objectives of the National Tariff Policy.

    The prime minister appreciated the efforts of commerce ministry in formulating a comprehensive tariff policy for the first time in the history of the country which, he said, will greatly restore confidence of the business community by providing for a transparent, predictable and institutionalized structure for tariff setting.

    The Prime Minister observed that the economy, especially the trade and industrial development suffered in past due to ad-hocism and unpredictability of tariff structure resulting in capture of the economy by vested interests and rampant corruption.

  • Headline inflation rises by 8.2 percent in February

    Headline inflation rises by 8.2 percent in February

    ISLAMABAD: The headline inflation based on Consumer Price Index (CPI) increased by 8.2 percent on year-on-year basis in February 2019 as compared to an increase of 7.2 percent in the previous month.

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  • SPI inflation increases by 10.63 percent

    SPI inflation increases by 10.63 percent

    ISLAMABAD: The inflation based on Sensitive Price Indicator (SPI) has increased by 10.63 percent by the week ended February 28, 2019, as compared with the corresponding week a year ago, according to details released by the Pakistan Bureau of Statistics (PBS) on Friday.

    The weekly SPI with base 2007-08=100 covering 17 urban centers and 53 essential items for all income groups/quintiles and combined has been computed.

    According to the PBS, inflation increased by 7.40 percent over the year for the lower-income group up to Rs8,000.

    The detail of inflation for other income is: 7.63 percent for income group Rs8001-120000; Rs7.62 percent for income group Rs12001-18000; 11.57 percent for income group Rs18001-35000; and 14.93 percent for income group above Rs35000.

    The basic items which witnessed significant growth in prices over the year are included: telephone calls; high-speed diesel; washing soap; gas charges; fabric-cloth; cigarettes; red chilli; cooking oil etc.

  • Forex reserves increase to $14.815 billion

    Forex reserves increase to $14.815 billion

    KARACHI: The total foreign exchange reserves of Pakistan increased by $21 million to $14.815 billion by week ended February 22, 2019 as compared with $14.794 billion a week ago, the State Bank of Pakistan (SBP) said on Thursday.

    The reserves held by SBP, however, declined by $7 million to $8.036 billion as compared with $8.043 billion.

    The reserves held by commercial bank increased by $28 million to $6.779 billion from $6.751 billion.

  • Forex reserves decline by $101 mn to $14.795 bn

    Forex reserves decline by $101 mn to $14.795 bn

    KARACHI: Pakistan’s total foreign exchange reserves declined by $101 million to $14.795 billion by week ended February 15, 2019 as compared with Rs14.895 billion a week ago, State Bank of Pakistan (SBP) said on Thursday.

    During the week ending February 15, 2019, the official reserves of SBP were decreased by $163 million to $8.043 billion from $8.206 billion a week ago, due to external debt servicing and other official payments.

    The reserves held by commercial banks however increased by $62 million to $6.751 billion as compared with $6.689 billion a week ago.

  • PM directs harsh action against tax evaders, corrupt tax officials

    PM directs harsh action against tax evaders, corrupt tax officials

    ISLAMABAD: Prime Minister Imran Khan, on Tuesday, directed tax authorities to take strict measures against tax evaders and corrupt officials within the tax departments. The prime minister issued these directives during a meeting focused on the government’s revenue generation efforts.

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