Karachi, August 5, 2024 — Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh has lauded the Karachi Chamber of Commerce for its exceptional execution of the 19th My Karachi Exhibition. During his remarks following the event’s closing at the Karachi Expo Center,
(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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Cement Despatches Fall for 11th Straight Month Due to High Taxes
Karachi, August 4, 2024 – The cement industry in Pakistan is grappling with significant challenges as domestic despatches have declined for the eleventh consecutive month, primarily due to heavy taxation and rising input costs. According to the All Pakistan Cement Manufacturers Association (APCMA), this persistent downturn is a major concern for the industry.
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Sindh CM Claims Supplying 50% Cheaper Electricity
Karachi, August 2, 2024 – The Chief Minister of Sindh, Syed Murad Ali Shah, on Friday claimed that the province could supply electricity generated from indigenous coal at 50% lower rates than current tariffs.
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President Zardari Seeks Viable Solution to IPPs Capacity Charges
Islamabad, August 2, 2024 – President Asif Ali Zardari has urged for a collaborative and effective solution to address the rising energy costs in Pakistan. He proposed that the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) should form a committee to work with the President’s office in developing a viable strategy to manage the payment of capacity charges to Independent Power Producers (IPPs).
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CCP Greenlights EP Group’s Stake Acquisition in Thyssenkrupp
Islamabad, August 1, 2024 – The Competition Commission of Pakistan (CCP) has approved a significant merger in the steel industry with international implications, involving the EP Corporate Group (EPCG) acquiring over 20% shares from the German industrial conglomerate Thyssenkrupp.
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Aurangzeb Calls for Broader Tax Net to Ease Burden
Karachi, July 30, 2024 – Pakistan’s Finance Minister Muhammad Aurangzeb expressed concern over the heavy tax burden on salaried individuals and businesspersons during a meeting with the business community at the Karachi Chamber of Commerce and Industry (KCCI) on Tuesday.
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KCCI Disappointed with Mere 1% Interest Rate Cut
Karachi, July 29, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has expressed disappointment over the State Bank of Pakistan’s (SBP) decision to reduce the policy rate by only 100 basis points to 19.5%. The KCCI contends that this reduction is insufficient to address the economic challenges faced by the business community.
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PYMA Demands Abolishing Regulatory Duty on Yarn
KARACHI, July 29, 2024 – Sohail Nisar, Senior Vice Chairman of the Pakistan Yarn Merchants Association (PYMA), alongside Vice Chairman Jaweed Khanani and members of the Executive Committee, has expressed deep concern regarding the imposition of regulatory duty (RD) on polyester yarn under HS Codes 5402.3300, 5402.4700, and 5402.4600.
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SSGC Completes Dedicated Gas Pipeline for SITE Industries
Karachi, July 26, 2024 – Sui Southern Gas Company (SSGC) has achieved a significant milestone by laying a dedicated 24-inch diameter, 31-kilometer-long high-pressure gas pipeline exclusively for the industrial consumers in the SITE area of Karachi.
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KCCI Signals Street Protests as Last Resort for Economic Relief
Karachi, July 24, 2024: The Karachi Chamber of Commerce and Industry (KCCI) has suggested that street protests might be the only effective method to compel the government to address pressing economic issues.
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