In response to higher-than-usual rainfall in the cotton-growing belt, the Pakistan Cotton Ginners Association (PCGA) has announced the immediate implementation of a new moisture policy, effective from Aug 1. According to a letter issued by PCGA General Secretary Zikrullah Khalidi on Thursday, ginners will pay the full rate for cotton containing up to 10pc moisture, without any deduction in weig
The government has exempted the 5 per cent tax on digitally imported goods and services as part of a tariff-related agreement with the United States, signalling efforts to maintain favourable trade ties and attract foreign digital businesses. According to a senior tax official, the exemption applies to all taxable digital supplies made by foreign entities. The legal provision itself remains int
The State Bank of Pakistan (SBP) has introduced a regulatory framework aimed at improving the recovery planning process of banks, in line with international standards and best practices. In a circular issued on Thursday, the SBP said the framework outlines supervisory expectations and seeks to harmonise recovery planning across the banking industry. It forms part of broader efforts to strengthe
The Oil and Gas Regulatory Authority (Ogra) on Thursday notified a 7.6 prt cent reduction in the price of Liquefied Petroleum Gas (LPG) for August, cutting the cost of an 11.8kg domestic cylinder by Rs209.24 following a decline in international prices. According to a notification, the price of LPG has been set at Rs215.37 per kg for August, down from Rs233.10 in July — a decrease of Rs17.73 per
The foreign exchange reserves held by the State Bank of Pakistan (SBP) declined by $153 million during the week ended on July 25, marking the second consecutive weekly drop. According to figures released by the SBP on Thursday, the central bank’s reserves fell to $14.303bn, down from $15.525bn on July 14 — representing a total decline of $1.222bn over the two-week period. Overall, the countr