The Pakistan Business Council (PBC) has urged the government not to make hasty decisions on reducing customs duties without comprehensively studying the implications on imports and unemployment. In a meeting with the secretary commerce and senior officials of the ministries of commerce, industries, finance and the Federal Board of Revenue (FBR) in Islamabad on Tuesday, PBC Chief Executive Ehsan
Despite declining returns, foreign investors parked over $1 billion in the Treasury Bills (T-bills) in the first eight months of FY25. However, 84 per cent of this inflow left the country during the same period, according to data released by the State Bank of Pakistan (SBP) on Tuesday. The short-term T-bill tenors remained the key attraction, as most inflows came from the United Kingdom and
The National Assembly Standing Committee on Commerce on Tuesday raised concerns over 1,000 containers stuck at the ports due to changes in the Export Facilitation Scheme (EFS) and asked for its early resolution. The committee meeting, chaired by MNA Muhammad Jawed Hanif Khan, also proposed to extend the tenure of elected representatives of the Federation of Pakistan Chambers of Commerce and Ind
European Union Ambassador Dr Riina Kionka said on Tuesday that European companies are recognising Pakistan as a potential business destination and are exploring new avenues for economic partnership. The statement came from the envoy ahead of the Business Forum scheduled for May 14-15 in Islamabad. This landmark event, supported by the EU, its member states, and the Government of Pakistan, aims
The federal government has reached a deal with the International Monetary Fund (IMF) for a new $1.3 billion arrangement and also agreed on the first review of the ongoing 37-month bailout programme, the Fund said on Tuesday. Pending board approval, the government can unlock the $1.3bn under a new climate resilience loan programme spanning 28 months. It will also free $1bn for the country und