Islamabad, September 18, 2024 – Pakistan is set to establish a new steel mill in Karachi with cooperation from Russia, marking a significant stride in the country’s industrial development.
(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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Pakistan’s Food Exports Surge by 42% in July – August FY25
KARACHI, September 17, 2024 – Pakistan’s food exports witnessed an extraordinary 42% growth during the first two months of fiscal year 2024-25, according to data released by the Pakistan Bureau of Statistics (PBS). Food group exports reached a remarkable $1.01 billion from July to August 2024, compared to $711 million in the same period last year.
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Pakistan’s Textile Exports Rise 5.37% in First Two Months of FY25
Karachi, September 16, 2024 – Pakistan’s textile exports have witnessed a significant growth of 5.37% during the first two months (July–August) of the current fiscal year 2024-25, according to data released by the Pakistan Bureau of Statistics (PBS) on Monday. The country’s textile exports reached $2.92 billion during this period, up from $2.77 billion in the corresponding months of the previous fiscal year.
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Site Association Demands Single-Digit Interest Rate
Karachi, September 13, 2024 – The Site Association of Industry (SAI) has urged the State Bank of Pakistan (SBP) to lower interest rates to a single digit, calling for a more aggressive approach to stimulate economic growth.
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PM Shehbaz Directs Measures to Boost SMEs Profitability
Islamabad, September 13, 2024 – Prime Minister Shehbaz Sharif has called for immediate measures to enhance the profitability of small and medium enterprises (SMEs), emphasizing their pivotal role in driving national economic growth.
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Business Community Terms 2% Rate Cut Too Little
Karachi, September 12, 2024 – The business community in Pakistan has voiced its disappointment over the State Bank of Pakistan’s (SBP) decision to cut the key policy rate by 2%, terming it insufficient given the current economic conditions.
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MTO Karachi Urges ABAD to Pay FED on Properties
Karachi, September 11, 2024 – The Medium Taxpayers Office (MTO) Karachi has called upon members of the Association of Builders and Developers (ABAD) to comply with the newly implemented Federal Excise Duty (FED) on immovable properties.
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Indonesia Ready to Negotiate Free Trade Agreement with Pakistan
Islamabad, September 11, 2024: In a significant move towards strengthening bilateral economic ties, Indonesia has expressed its readiness to negotiate a Free Trade Agreement (FTA) with Pakistan. Rahmat Hindiarta Kusuma, the Charge d’Affaires of the Indonesian Embassy, conveyed this during his visit to the Islamabad Chamber of Commerce and Industry (ICCI) on Wednesday.
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KATI Demands Urgent Cut in Interest Rates
Karachi, September 6, 2024 – The Korangi Association of Trade and Industry (KATI) on Friday issued an urgent call for a reduction in interest rates, citing the recent drop in inflation. KATI President Johar Qandhari emphasized the need for a 4% cut in interest rates to align with the current inflation rate, which stands at 9%.
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National Foods Sees 26.35% Profit Decline Despite Strong Sales
Karachi, September 6, 2024 – National Foods Limited on Friday reported a significant 26.35% decline in net profit for the fiscal year ended June 30, 2024, despite robust sales growth.
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