The consolidating Pakistani rupee regained Rs0.12, strengthening to Rs278.50 against the US dollar in the inter-bank market on Tuesday. According to State Bank of Pakistan (SBP) data, the domestic currency had weakened to a three-month low of Rs278.62 against the greenback on Monday. The Exchange Companies Association of Pakistan (ECAP) reported that the local currency gained Rs0.05, closing at Rs
The American Business Council has urged the government to reconsider the 25% Sales Promotion, Advertising, and Publicity (SAP) Expense Disallowance Policy, warning that it will significantly increase marketing costs, particularly for multinationals. The government’s disallowance of 25% of SAP expenses creates a substantial financial burden, especially for multinationals that rely heavily on advert
Pakistan’s Ambassador to the United States, Masood Khan, invited American entrepreneurs and corporate leaders to invest in Pakistan’s IT, energy, agriculture, and mineral sectors during a meeting in Washington on Monday, according to a press release from the Pakistani embassy. The ambassador highlighted the advantages identified by the US International Trade Administration for American investor
The government raised Rs131.4 billion through the auction of Pakistan Investment Bonds (PIBs) on Tuesday, further increasing domestic debt volume. Data from the State Bank shows that the government raised the highest amount, Rs115bn, through three-year PIBs against bids of Rs154.3bn, with a 16.6 per cent rate of return. The lowest amount, Rs500 million, was raised for five-year PIBs against
The Competition Commission of Pakistan (CCP) has approved the acquisition of two pharmaceutical products from Tokyo-based Eisai by Hilton Pharma. The acquisition includes the rights to manufacture and commercialise the drugs Methycobal and Myonal in Pakistan. The transaction involves the transfer of trademarks, know-how and records related to these products under an asset purchase agreement sig