ISLAMABAD: The Pakistan Association of Large Steel Producers (PALSP) has warned that the steel industry, a cornerstone of the national economy, is facing a severe crisis. Numerous steel mills have already closed, while the few that remain operational are running at just 20-30% capacity. The sector is grappling with unsustainable production costs and plummeting demand.
(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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APPMA Opposes K-Electric’s Rs 68 Billion Write-Off Request
ISLAMABAD: The All Pakistan Processing Mills Association (APPMA) has strongly opposed the approval of K-Electric’s (KE) Rs 68 billion write-off claims, deeming them unjustifiable.
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High Tax Rates in Pakistan Impede Swedish Investment: Envoy
KARACHI: The Ambassador of Sweden, Ms. Alexandra Berg von Linde, highlighted the challenges that Swedish companies face in Pakistan, including high tax rates, when discussing Sweden-Pakistan trade and investment relations.
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Pakistan Makes $76.28M Import Payment to India in 4MFY25
Karachi, November 20, 2024 – Pakistan has made an import payment of $76.28 million to India during the first four months (July – October) of the fiscal year 2024-25, according to official data from the State Bank of Pakistan (SBP).
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Defence Minister Opens IDEAS 2024 Expo in Karachi
The 12th edition of the International Defence Exhibition and Seminar (IDEAS 2024) kicked off at the Karachi Expo Centre on Tuesday, with Federal Minister for Defence and Defence Production, Khawaja Muhammad Asif, formally inaugurating the event. The exhibition, which runs until November 22, 2024, has attracted over 350 high-level delegations from 55 countries, making it a key regional event for the global defence industry.
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International Defense Exhibition IDEAS 2024 Begins November 19
Karachi, November 18, 2024 – The 12th edition of the prestigious International Defense Exhibition and Seminar (IDEAS) 2024 will open its doors on Tuesday, November 19, at the EXPO Centre in Karachi.
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Pakistan’s Knitwear Exports Surge 19% in 4MFY25
Karachi, November 17, 2024 – Pakistan’s knitwear exports have witnessed an impressive growth of 19% during the first four months (July to October) of the current fiscal year 2024-25, according to the latest data released by the Pakistan Bureau of Statistics (PBS).
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FPCCI Criticizes Changes in Petroleum Act 1934 Amendments
Karachi, November 16, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has voiced strong objections to the recent amendments made to the Petroleum Act of 1934. The amendments, introduced on August 5, 2023, particularly Clauses A, B, and C, categorize certain petrochemicals, but have raised significant concerns among chemical importers, traders, and industrialists.
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KCCI Flays Restoration of Affidavit Condition for Sales Tax Returns
Karachi, November 9, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) expressed its strong opposition on Saturday to the recent reinstatement of the affidavit requirement for filing sales tax returns. KCCI President Muhammad Jawed Bilwani sharply criticized the move, demanding the immediate suspension of the affidavit mandate until substantial consultations with stakeholders have been conducted and effective alternatives identified.
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FPCCI Calls for Winter Package to Boost Industrial Production
Karachi, November 6, 2024 – Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has urged the government to implement a comprehensive winter package aimed at revitalizing Pakistan’s industrial sector. Sheikh highlighted the pressing need for incentives and cost reductions to ensure industries remain competitive in global export markets.
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