Pakistani currency on Tuesday ticked up Rs0.06 and closed at Rs278.30 against the US dollar in the inter-bank market as gains came in the wake of a notable fall in global oil prices, which reduced demand for the greenback for energy imports. According to the State Bank of Pakistan (SBP)’s data, the rupee had closed at Rs278.36 against the dollar on Monday. Brent crude price decreased 3.4% to
Lahore University of Management Sciences (LUMS) has sought the government’s immediate attention to the impact of tax policies, particularly the federal excise duty (FED) adjustment, on Pakistan’s cigarette industry, which is causing more revenue loss than revenue collection. The study titled “Impact of Taxation on the Cigarette Sector in Pakistan” has uncovered a pressing issue and invited swif
Progressive farmers and researchers have urged the government to promote organic farming with a host of incentives so that they could switch over, produce toxin-free food and fetch better prices for organically grown crops. Progressive farmer and Sindh Chamber of Agriculture (SCA) Senior Vice President Nabi Bux Sathio said “people around the globe love to eat organic food, although there is a w
Overall cement sales — domestic and export — increased by eight per cent in May to 4.275 million tonnes from 3.965m tonnes during the same month last year. According to data released by the All Pakistan Cement Manufacturers Association (APCMA), local sales fell 2.17pc year-on-year to 3.357m tonnes from 3.432m tonnes, while exports surged 72pc to 917,962 tonnes from 533,215 tonnes. Overall ce
Services exports increased by 16.59 per cent year-on-year in April, marking the third consecutive month of growth following four months of contraction, according to data released by the Pakistan Bureau of Statistics on Tuesday. Exports reached $646.03 million from $554.10m in the corresponding month last year. On a month-on-month basis, the services export posted a negative growth of 7.57pc.