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LAHORE: Textile sector holds the potential to increase the exports to $50 billion per year but to exploit it the industry needs a long-term policy and yearly investment of at least $2 billion both of which are elusive. Every government that comes into power looks towards textiles for boosting exports...
LAHORE: Small and medium enterprises (SMEs) play a key role in accelerating economic growth as they pave the way for employment generation and new enterprise creation, remarked Adviser to PM on Commerce Abdul Razak Dawood. Speaking in a meeting of the National Steering Committee on SME Policy, the adviser said in...
LAHORE: Pakistan’s largest tyre manufacturer is facing the heat from smuggling and undocumented economy. Apart from these two constraints, an uneven duty structure coupled with lop-sided cost of doing business in the country have turned its final products uncompetitive compared to imported ones. As per company executives, in fiscal year 2017-18 alone,...
The Thar Coal & Energy Board (TCEB) has extended the applicability of financial incentive of 20 percent dollar-based equity Internal Rate of Return (IRR) to all coal mining companies working in Thar Coalfield who can achieve financial close till 31st December, 2019. This decision was taken on Saturday in 20th...
KARACHI: Pakistan’s seafood exports declined 5.07 percent to 130,830 tons in the first nine months (July-March) of the current fiscal year (2018/19) compared to 137,819 tons during the same period of the last fiscal year, Pakistan Bureau of Statistics (PBS) data showed on Thursday. In terms of dollars, value dropped...
KARACHI: Pakistan’s textile and clothing exports recorded 9.47 percent year-on-year decline to $1.088 billion in March 2019, taking the nine-month (July-March FY19) exports to $9.99 billion, as higher cost of doing business and economic uncertainty kept the industry under pressure. “This is the largest monthly decline in textile exports since...
ISLAMABAD: Growers of Khyber-Pakhtunkhwa (K-P) have asked the government to immediately withdraw a newly announced additional tax of Rs300 per kg on tobacco. Representatives and office-bearers of Khyber-Pakhtunkhwa Labour Federation, Sarhad Agricultural and Rural Development Organisation and tobacco growers of K-P made the demand at a press conference on Wednesday. They also...
Economic Coordination Committee (ECC) of the Cabinet is all set to consider the much-awaited Pakistan Steel Mills (PSM) future plan on Monday (today), well informed sources told Business Recorder. To be president over by Finance Minister, Asad Umar, the committee will be given a detailed presentation by the head of Experts...
LAHORE: The cement sector continued to suffer from a lack of domestic demand due to slowdown in economic growth, lower development spending and delay in the launch of government’s low-cost housing scheme. Usually, cement consumption is at its peak in March as construction activities surge due to pleasant weather and urgency...
BEIJING:  No restrictions have been placed on the entry of Pakistani cherries into China as long as they meet the standards, said a deputy to the National People’s Congress (NPC) during China’s Two Sessions. “A lot of countries are willing to export cherries to China. I have visited Turkey and other...

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crisis bank financing

Financing of external payments

The outstanding external debt of Pakistan crossed the century mark early this year. It stands as of the end of March 2019 at $105.8...