Pakistan textile production and exports are poised to grow this year as displaced orders from Bangladesh shift here. The extent of this increase, however, hinges on how swiftly millers and the government can adapt to fully seize the opportunity. Business sources claim, given the right policy environment, textile exports could surge from current $16.5 billion to $20.5bn, marking a record $4bn ga
One of every four cars sold worldwide is now an electric vehicle (EV). In Pakistan, grappling with still high interest and inflation rates, buying a car is a challenge, even if the vehicle is a traditional fossil fuel-powered car with an internal combustion engine (ICE). So the flurry of EV launches — a big ticket item at the best of times with a string of challenges — comes as a surprise. Perh
Amid restrictions on financing above the vehicle price of Rs3 million followed by the limited tenor of the loan payment, auto sector stakeholders are cautiously optimistic that the cut in interest rate from 22 per cent in June 2024 to 17.5pc on Sept 12 will boost auto sales. Auto financing plunged for the 26th consecutive month to Rs227.3 billion in August 2024 from Rs368bn in June 2022. Banks’
Minister of State for Information Technology and Telecommunication Shaza Fatima Khwaja has announced that arrangements are underway to facilitate digital outward remittances for IT companies, saying the move will enable IT exporters to seamlessly pay international suppliers and vendors. Speaking at HBL-P@SHA ICT Awards 2024 here on Monday, she said the awards empowered innovators, startups, and
The State Bank of Pakistan (SBP) on Monday extended the deadline for exchange companies to import half the dollar value of their currency exports, in cash, until the end of FY25 against the previous validity of June 30. According to an SBP circular, the decision was taken to ensure an adequate supply of US dollars in the open market. The exchange companies can export foreign currencies, barring