Karachi, October 10, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has urged the State Bank of Pakistan (SBP) to cut the policy rate by at least 300 basis points in response to falling inflation and to stimulate economic growth.
(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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KCCI Announces Full Working Day on Fridays to Better Serve Business Community
Karachi, October 9, 2024 – In a move aimed at enhancing support for the business and industrial sectors, the Karachi Chamber of Commerce and Industry (KCCI) has announced that it will observe a full working day on Fridays, departing from the previous half-day schedule. The decision reflects the Chamber’s commitment to providing uninterrupted services to its members throughout the week.
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SBP Revises Per Party Exposure Limits to Boost SME Financing
Karachi, October 8, 2024 – The State Bank of Pakistan (SBP) has taken a significant step towards promoting Small and Medium Enterprises (SMEs) by revising the per party exposure limits for these businesses.
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KCCI Calls for 2% Reduction in SESSI Social Security Rates
Karachi, October 5, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has strongly urged the Sindh government to reduce the Sindh Employees Social Security Institution’s (SESSI) social security contribution rate by at least 2%. The appeal comes amid escalating financial burdens on industries due to rising minimum wages and an increasingly high cost of doing business.
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FPCCI Demands Immediate Policy Rate Cut to Single Digits
Karachi, October 2, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has called for an urgent and significant reduction in Pakistan’s benchmark policy rate, urging the State Bank of Pakistan (SBP) to lower it to a single digit.
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KCCI Warns of Industry Closures Over Gas Suspension to Captive Power Plants
Karachi, October 2, 2024 – The President of the Karachi Chamber of Commerce and Industry (KCCI), Muhammad Jawed Bilwani, voiced strong concerns on Wednesday over the government’s decision to suspend gas supply to Captive Power Plants (CPPs) by 2025.
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Pakistan Achieves Over 14% Export Growth in First Quarter of FY25
Islamabad, October 2, 2024 – Pakistan has reported an impressive 14.11% growth in exports during the first quarter of the fiscal year 2024-25 (1QFY25), a significant indicator of the country’s economic resilience. According to data released by the Pakistan Bureau of Statistics (PBS), exports soared to $7.88 billion between July and September 2024, compared to $6.90 billion in the same period last fiscal year.
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KATI Urges FBR to Resolve Persistent IRIS System Issues
Karachi, October 1, 2024 – The Korangi Association of Trade and Industry (KATI) has called on the Federal Board of Revenue (FBR) to urgently address ongoing issues with its online tax return filing platform, IRIS.
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SBP Mandates Stringent Guidelines for Further Sugar Exports
Karachi, October 1, 2024 – The State Bank of Pakistan (SBP) issued a comprehensive directive on Tuesday, instructing banks and authorized dealers (ADs) to adhere to new regulations concerning the export of an additional 100,000 metric tons (MT) of sugar.
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KCCI Elects Jawed Bilwani as President for 2024-26 Term
In a pivotal moment for Karachi’s business community, Muhammad Jawed Bilwani has been elected as the new President of the Karachi Chamber of Commerce & Industry (KCCI) for the 2024-26 term.
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