Islamabad, January 1, 2025 – Pakistan’s exports witnessed a remarkable growth of 10.52% during the first half (July–December) of the current fiscal year 2024-25, according to trade data released by the Pakistan Bureau of Statistics (PBS) on Wednesday.
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Pakistan’s IT Exports Soar by 39% YoY in October 2024
Pakistan achieved a significant milestone in October 2024, recording IT exports worth $330 million. This represents a robust 39% year-on-year (YoY) increase and a 13% month-on-month (MoM) growth, surpassing the 12-month average of $287 million, according to analysts at Topline Securities.
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Pakistan Sees Massive 27% Exports Jump YoY in May 2024
PkRevenue.com – Pakistan has registered a significant 27.08 percent increase in exports on a year-on-year (YoY) basis in May 2024, according to data released by the Pakistan Bureau of Statistics (PBS) on Monday. Exports surged to $2.80 billion in May 2024, up from $2.20 billion in the same month of the previous year.
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South Korea Records 10% Surge in Car Shipments in April 2024
South Korea has witnessed a significant uptick in car shipments, recording a 10 percent increase in April 2024, according to recent official data released by the Ministry of Trade, Industry and Energy.
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Japan Threaten Legal Action against Pakistan over Car Exports
The Japanese government has issued a stern warning to Pakistan regarding the alleged coercion of three of its prominent car manufacturing companies to export their vehicle variants, a move deemed as a violation of World Trade Organization (WTO) regulations, as per media reports.
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Pakistan’s Exports Witness 12.68% Decline in July 2023
Islamabad, August 2, 2023 – The latest data released by the Pakistan Bureau of Statistics (PBS) indicates a significant decline in the country’s exports by 12.68% in July 2023, as compared to the previous month.
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FBR Plans New Indemnity Bond to Facilitate Exporters
ISLAMABAD: The Federal Board of Revenue (FBR) has unveiled a new indemnity bond for exporters, allowing them to sell or transfer plant machinery, equipment, and apparatus from one Export Facilitation Scheme (EFS) user to another.
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Pakistan exports plummet by 10% during July – March 2022-2023
Exports of Pakistan have plummeted by 10 percent during nine month (July – March) 2022-2023, official data revealed on Monday.
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Pakistan’s exports decline by 5.8pc in 1HFY23
ISLAMABAD: Pakistan’s exports have declined by 5.8 per cent in the first half (July – December) of fiscal year 2022-2023, according to official trade data released on Tuesday.
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SBP automates verification of refinance claims
KARACHI: The State Bank of Pakistan (SBP) on Friday announced the automation of verification of refinance clams under the Export Finance Scheme (EFS).
Automated verification will significantly enhance the efficiency of refinance operations and improve exporters’ access to liquidity, the central bank added.
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With this move, refinance claims can now be verified through an online system by banks and can be made available for performance calculation and loan entitlement within minutes.
After a brief parallel run, this automated verification of refinance claims will permanently replace the existing manual verification being performed by Foreign Exchange Operation Department (FEOD) and Development Finance Divisions (DFDs) in SBP-BSC offices.
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The new automated system allows banks to generate provisional export performance of their exporters during the concluded financial year, review it with the exporter and submit the finalized performance to the system electronically. Subsequently, the system will verify the finalized performance and calculate loan entitlement, which will be granted by SBP-BSC upon banks’ request.
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The automated verification of refinance claims is expected to conserve resources and enhance efficiency by reducing turnaround time and change of hands. This will ensure swift processing of export refinance to exporters and provide them easier access to liquidity, ultimately benefiting export earnings of the country.
This initiative is part of SBP’s long term vision of digitizing banking operations and bringing ease of doing business in the country.
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