The Pakistan Banks' Association (PBA) unveiled strategic initiatives aimed at fostering financial inclusion and sustainability during a high-level meeting chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb. According to a press statement released on Thursday, the session, attended by State Bank of Pakistan (SBP) Governor Jameel Ahmad and senior officials, showcased effo
More than 40 Swedish companies operating in Pakistan are grappling with significant challenges, including high tax rates, steep energy costs, and restrictions on transferring foreign currencies, according to Ambassador of Sweden Alexandra Berg von Linde. These issues, she said, are major obstacles to fostering foreign investment and improving trade ties. Speaking at a meeting with the Karachi C
Pakistan has made it compulsory for Iranian transporters to provide a bank guarantee equivalent to the customs duties and taxes imposed on goods being delivered to the National Logistics Corporation (NLC) Dry Port Quetta via Taftan. In case of violations, the bank guarantee will be confiscated, and additional legal actions, including fines, will be implemented. The Customs Rules 2001 have been ame
Pakistani fan manufacturers have stated that challenges faced by the industry, both in domestic and export markets, are increasing rapidly, and require joint efforts from the government and industry to get an additional market share globally. Currently, the fan industry benefits from low labour costs, access to skilled workforce and an established production infrastructure. These advantages all
With the latest weekly surge of $29 million, Pakistan's foreign exchange reserves, held by the State Bank of Pakistan (SBP), have cumulatively risen $2.19 billion in the past four months, reaching a more than 31-month high at $11.29 billion by November 15, 2024. The spike in foreign currency deposits suggested that the supply of US dollars remained higher, which helped the local currency to sta