Karachi, August 1, 2023 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has strongly criticized the outgoing government for the unprecedented increase in petroleum prices, which is expected to exacerbate inflationary pressures and cripple the already struggling economy.
(more…)Category: Trade & Industry
This section covers news on trade and industry. Pakistan Revenue is committed to providing the latest updates on business trends.
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EPCL and SSGC Ink Deal for Gas Supply to Ensure Uninterrupted Operations
Karachi, August 1, 2023 – Engro Polymer & Chemicals Limited (EPCL) has signed a significant agreement with Sui Southern Gas Company Limited (SSGC) to secure the supply of gas for its captive power generation plant located at Port Qasim Industrial Zone in Karachi.
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Colgate-Palmolive Pakistan Registers Massive 77% Increase in Annual Net Profit
Karachi, August 1, 2023 – Colgate-Palmolive Pakistan Limited, a leading consumer goods company, has reported an impressive 77 percent surge in net profit for the fiscal year ended June 30, 2023.
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Super Tax Shock: Engro Fertilizers Limited Witnesses Slump in 2Q2023 Profits
Karachi, July 31, 2023 – Engro Fertilizers Limited (EFERT) faced a setback in its earnings as the implementation of the super tax adversely impacted its financial performance.
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Lucky Cement Awarded KCCI Export Trophy for Cement Excellence
Lucky Cement Limited, a leading Pakistani cement producer and exporter, was honored with the prestigious KCCI Export Trophy Awards in recognition of its exceptional achievements in the international market.
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FPCCI Warns of Complete Business Halt After Massive Electricity Tariff Hike
Karachi, July 26, 2023 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has issued a stern warning to the government, raising concerns over the recently implemented massive hike in electricity tariff.
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Private Sector Loans Nose-Dive 87% in FY23 Due to High Interest Rates and Slowdown
Karachi, July 25, 2023 – Pakistan’s private sector has been hit hard by the economic slowdown and high interest rates, as bank loans plummeted by a staggering 87 percent in the fiscal year 2022-2023, according to data released by the State Bank of Pakistan (SBP) on Tuesday.
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Tax Evasion Tango: Illicit Cigarette Export Scam Causes Billions in Losses
Islamabad, July 25, 2023 – Illicit cigarette manufacturers in Pakistan are exploiting the exports quota to evade advance tax, resulting in substantial losses to the national exchequer.
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KATI Fears Industry Closure After Electricity Tariff Hike
Karachi, July 25, 2023 – The Korangi Association of Trade and Industry (KATI) has sounded the alarm over the recent electricity tariff hike, warning that it could spell disaster for many industries, potentially leading to closures.
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KCCI Protests Banks’ Refusal in LC Opening, Urges Government Intervention
Karachi, July 24, 2023 – The Karachi Chamber of Commerce and Industry (KCCI) voiced strong discontent on Monday over the persistent refusal of commercial banks to open letters of credit (LCs), hindering import payment processes and causing mounting concerns among traders and industrialists.
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