The State Bank of Pakistan’s (SBP) foreign exchange reserves increased by $215 million to $11.022 billion during the week ended on Oct 11, reaching the highest level since FY21. In its announcement on Thursday, the central bank did not disclose the source of this inflow, but the market considers that the SBP has been buying dollars from the banking market. The government has projected to boo
The Federal Board of Revenue (FBR) has deferred the condition of submitting an affidavit together with the sales tax return for one month to address exporters’ concerns. As per the decision, affidavits will not be required for returns filing for the tax period of September to be filed this month. The decision came after the Federation of Pakistan Chambers of Commerce and Industry and other lead
The Large-Scale Manufacturing (LSM) sector contracted 2.65 per cent year-on-year in August, according to data released by the Pakistan Bureau of Statistics on Thursday. The LSM enters a negative growth following a positive growth of 2.38pc in July. The LSM has grown positively for the last six months since December 2023 before entering negative territory in June. In FY24, the LSM witnessed a ne
In a rare move, the National Electric Power Regulatory Authority (Nepra) has imposed a Rs50 million fine on a public sector electricity generation company for misleading regulatory filing negatively affecting electricity rates and issued show-cause notices to two other SOEs in the power sector for violation of rules and regulations. In its order, the regulator imposed a Rs50m fine on Central Po
The exports of textile and clothing recorded an increase of nearly 9.51 per cent in the first quarter of FY25 amid concerns that the industry was experiencing a slump, Pakistan Bureau of Statistics data showed on Thursday. The exports from the sector had a negative growth of 3.09pc in July, which rebounded 13pc in August and 17.92pc in September. Many experts believe that the textile sector