Pakistan approves LNG at $9 per MMBTU for export sector

Jul 26

Energy, Finance

Pakistan approves LNG at $9 per MMBTU for export sector

ISLAMABAD: Pakistan on Monday approved a rate of $9 per MMBTU for supply of LNG to export sector across the country. The country’s apex economic coordination body approved the rates to provide competitive environment to the export sector at par with regional economies. READ MORE: NEPRA to conduct public hearing on KE’s petition on July […]

by Anjum Shah

SBP raises mark-up rate for export financing scheme

Apr 8

SBP raises mark-up rate for export financing scheme

KARACHI: The State Bank of Pakistan (SBP) on Thursday increased mark-up rate for refinancing under Export Financing Scheme (EFS). The SBP increased the rate of mark-up for export financing scheme following sharp jump in key policy rate by 250 basis points to 12.25 per cent. READ MORE: SBP issues list to impose 100% cash margin […]

by Faisal Shah

Final tax regime allowed for export of services

Jun 18

Budget 2021-2022, Taxation

Final tax regime allowed for export of services

KARACHI: The Finance Bill 2021 has proposed a final tax regime for export of IT and IT enabled services. According to commentary on budget 2021/2022 released by KPMG Taseer Hadi & Co. currently, tax deduction on foreign proceeds from export of goods are taxed at 1 percent which is considered as final tax. The Finance […]

by Anjum Shah

Import bill falls by over 10 percent in October; export witnesses 2.1 percent growth

Nov 3

Finance

Import bill falls by over 10 percent in October; export witnesses 2.1 percent growth

ISLAMABAD: The country’s import bill has witnessed decline by 10.3 percent to $4.07 billion in October 2020 as compared with $3.65 billion in the same month of the last year. Meanwhile, the exports have witnessed an increase of 2.1 percent to $2.06 billion in October 2020 as compared with $2.02 billion in October 2019. To […]

by Anjum Shah

Sep 15

Finance

Cabinet allows export of all PPE items

ISLAMABAD: The federal cabinet in its meeting held on Tuesday allowed export of all Personal Protective Equipment (PPE) items. The cabinet approved to lift the ban on export of Tyvek Suits and the anti-malarial drugs, including Chloroquine and Hydroxychloroquine. This decision was undertaken on a summary initiated by Ministry of Commerce. Now, with lifting of […]

by Anjum Shah

Customs stops export consignments of onion after ban decision

Feb 22

Pakistan Customs

Customs stops export consignments of onion after ban decision

KARACHI: Pakistan Customs stopped export consignments of onion to comply with government decision to impose ban on the vegetable to meet local demand. In an letter issued by Model Customs Collectorate (MCC) Exports on Friday to Pakistan International Container Terminal (PICT) stated: “In compliance of directive received from the Headquarters, the loading of all the […]

by Anjum Shah

Export commitments to be missed on gas supply curtailment: APTMA

Dec 26

Trade & Industry

Export commitments to be missed on gas supply curtailment: APTMA

KARACHI: All Pakistan Textile Mills Association (APTMA) in a statement on Thursday said that industries will fail to meet export commitments due to 50 percent reduction in gas supply. Zahid Mazhar, Chairman, APTMA, Sindh-Baluchistan Region demanded the government to restore full supply of gas to the industries located in the province of Sindh and Balochistan […]

by Anjum Shah

SBP facilitates exports against advance payment

Nov 18

Money & Banking

SBP facilitates exports against advance payment

KARACHI: State Bank of Pakistan (SBP) has amended framework related to trade based money laundering in order to facilitate receiving export payment. The SBP on Monday issued amendment to Framework for Managing Risks of Trade Based Money Laundering and Terrorist Financing. The central bank invited attention of the banks and exchange companies to FE Circular […]

by Anjum Shah

Pakistan cuts trade ties with India; notifications issued

Aug 9

Exclusive, Finance, National

Pakistan cuts trade ties with India; notifications issued

ISLAMABAD: Pakistan has completely cut trade ties with India as the ministry of commerce issued notification for banning import and exports with the neighboring country. The ministry of commerce on Friday issued SRO 927(I)/2019 and SRO 928(I)/2019 to impose ban on trade with India. Through SRO 927 (I)/2019, the ministry of commerce amended Import Policy […]

by Anjum Shah

Past revenue-centric policies hurt exports: Prime Minister

Apr 5

Finance

Past revenue-centric policies hurt exports: Prime Minister

ISLAMABAD: Prime Minister Imran Khan has said that the revenue-centric economic policies of past governments have badly damaged the competitiveness of Pakistan’s exports. The past the revenue-centric economic policies with overemphasis on collection of revenues made the industry uncompetitive, the prime minister said while chairing 80th Meeting of the Board of Administrators of Export Development […]

by Anjum Shah