Dec 1

Pakistan exports plunge 18.34pc in November 2021

ISLAMABAD: Pakistan exports have registered 18.34 per cent decline Year on Year (YoY) in November 2022 owing to import restrictions and slowdown in global demand. Data released by Pakistan Bureau of Statistics (PBS) on Thursday revealed that exports fell to $2.37 billion in November 2022 when compared with $2.9 billion in the corresponding month last […]

by Mrs. Anjum Shahnawaz

ECC approves clearance of banned items landed till August 18, 2022

Sep 22

Finance, Ports and Shipping, Top stories

ECC approves clearance of banned items landed till August 18, 2022

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved the customs clearance of banned items, which landed till August 18, 2022. Federal Minister for Finance and Revenue Miftah Ismail virtually presided over the meeting of the ECC. Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Khurram Dastgir Khan, Federal […]

by Mrs. Anjum Shahnawaz

Sep 14

FPCCI rejects central bank’s claim of ‘no import restriction’

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Wednesday strongly rejected the claim of the central bank regarding no restriction on imports. FPCCI’s acting president, Suleman Chawla in a statement categorically refuted the claims and assertions made by the State Bank of Pakistan (SBP) that there are no restrictions in place on […]

by Faisal Shahnawaz

No restriction on imports, SBP clarifies

Sep 13

Money & Banking, Top stories

No restriction on imports, SBP clarifies

KARACHI: State Bank of Pakistan (SBP) on Tuesday clarified that there is no restriction on import of raw material for any industry. In a statement the central bank said that lately, some media reports and representatives of trade organizations have claimed that banks are not opening Letters of Credit (LCs) for essential raw materials including […]

by Faisal Shahnawaz

Pakistan allows tax exemption on tomato, onion imports

Sep 1

Finance, National, Taxation, Top stories

Pakistan allows tax exemption on tomato, onion imports

ISLAMABAD: Pakistan on Wednesday granted exemption of income tax and sales tax on imports of tomato and onion during next four months. In this regard, the Federal Board issued notifications in this regard. The FBR issue SRO 1639(I)/2022 to allow withholding income tax exemption on import of tomato and onion imported till December 31, 2022. […]

by Mrs. Anjum Shahnawaz

FBR increases customs valuation for Afghan coal by 69%

Aug 26

Pakistan Customs, Taxation

FBR increases customs valuation for Afghan coal by 69%

KARACHI: Federal Board of Revenue (FBR) has increased the customs valuation of imported coal of Afghanistan origin by 69 per cent to $140 per metric ton.

by Faisal Shahnawaz

Clearance of banned cars, phones allowed on 100% surcharge

Aug 20

Automotive, Finance, IT & Telecom, Ports and Shipping

Clearance of banned cars, phones allowed on 100% surcharge

ISLAMABAD: The government has allowed clearance of stuck up consignments of cars and mobile phones on payment of 100 per cent surcharge. The ministry of commerce on Friday issued an office memorandum regarding prohibition / complete quantitative restrictions on import of non-essential and luxury items. READ MORE: Pakistan lifts ban on import of cars, phones, […]

by Mrs. Anjum Shahnawaz

Pakistan lifts ban on import of cars, phones, luxury items

Aug 20

Finance, National, Ports and Shipping, Top stories

Pakistan lifts ban on import of cars, phones, luxury items

ISLAMABAD: Pakistan on Friday lifted ban on all import of luxury and non-essential items amid serious foreign exchange crisis. The ministry of commerce issued SRO 1562(I)/2022 for lifting the ban on luxury and non-essential items, including motor vehicles, mobile phones and home appliances. The government on May 19, 2022 through a circular No. 598 (I)/2022 […]

by Mrs. Anjum Shahnawaz

SBP relaxes cash margin restriction on import

Aug 6

Money & Banking, Top stories

SBP relaxes cash margin restriction on import

KARACHI: The State Bank of Pakistan (SBP) has relaxed restriction on cash margin requirement on imported items. According to a circular issued on August 05, 2022, the SBP said that banks were required to maintain 100 percent cash margin against certain items of import (HS codes), regardless of the mode of payment. READ MORE: SBP […]

by Hamza Shahnawaz

Pakistan decides to lift ban on imported goods

Jul 29

Automotive, Finance, Ports and Shipping, Top stories

Pakistan decides to lift ban on imported goods

ISLAMABAD: Pakistan on Thursday decided to lift the ban imposed on imported goods except for Completely Built Unit (CBU) of motor vehicles, mobile phones and home appliances. A review meeting was held to review the ban after two months owing to serious concerns raised by major trading partners on the imposition of ban and considering […]

by Mrs. Anjum Shahnawaz