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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
KARACHI: Pakistan’s cement exports registered unprecedented growth of 52 percent during first eight months (July – February) of fiscal year 2018/2019 mainly on the back of rupee depreciation and focus on low margin exports.
ISLAMABAD: Prime Minister Imran Khan will preside a special cabinet meeting on Wednesday at 02:00 PM. The meeting likely to give approval to economic reform package, sources said. However, the official media on Tuesday said that the meeting will be held at National Assembly Building. It will consider and approve export and investment promotion package.