Cars’ sale drops 64% in July
The sale of cars during the first month of the current financial year 2023-24 has dropped by 64.32 percent as compared to the same month of last year, a recent data released by Pakistan Automobile Manufacturing Association (PAMA). As many as 3,702 cars were sold during the month under review as opposed to 10,378 units…
Adil Aziz
SBP Governor lauds Quaid’s role in establishment of State Bank
The Governor of State Bank of Pakistan (SBP) Jameel Ahmad while addressing the flag hoisting ceremony to mark the 76th Independence Day at State Bank of Pakistan (SBP), paid rich tributes to Quaid-e-Azam Muhammad Ali Jinnah and his companions, who despite adversities, led the freedom struggle and won an independent state for Muslims of the…
Waste Recycling – An emerging future business
International Tetra Pack acknowledges Green Earth as the first company to give solutions to tetra pack recycling, the company has the capacity to recycle 450 tons of different types of plastic waste and 100 tons of packaging material. Pakistan is grappling with the whooping impacts of environmental degradation and global warming casting formidable changes to…
TwentyOne to launch new Grand Bazaar in Karachi
TwentyOne Builders and Developers, one of the growing real estate companies, is all set to launch a new commercial mall “Grand Bazaar in Karachi aims to facilitate wholesale and retail businesses under one roof. The project is being designed on the new concept to boost the business and economic activities in the commercial capital of…
Govt provides Rs 2,953 Million for agro-based SMEs
Amount was disbursed among 177 borrowers under Prime Minister Kissan Package for dairy, livestock food processing, fruit, and vegetable packaging across the country The government has provided Rs 2,953 million for the modernization of agro-based Small and Medium Enterprises (SMEs) in order to enhance farm output and encourage agricultural sector value addition for enhancing farm…
SECP registers 2,220 companies in July
The Securities and Exchange Commission of Pakistan (SECP) registered 2,220 new companies in July 2023, a 25% increase from the previous year. The total capitalization for these companies was Rs. 3.3 billion. The total number of registered companies in the country rose to 197,828 About 57% of Pakistan’s companies are private limited companies, 41% are…
Rupee sheds 90 paisa against US Dollar
Pakistani Rupee on Friday witnessed a 90-paisa devaluation against the US dollar in the interbank trading as it closed at Rs 288.49 against the previous day’s closing of Rs 287.59. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market stood at Rs 294.5 and…
United States, Pakistan honor 75 years with a commemorative stamp
The U.S. Mission to Pakistan culminated its year-long campaign marking 75 years of relations with Pakistan with a reception to honor Pakistan’s issuance of a commemorative stamp. The event was held at the U.S. Ambassador’s residence and included Chief Guest Foreign Secretary Dr Asad Majeed Khan as well as other prominent figures from the Pakistan…
Business community asked to cooperate in controlling use of polythene bags
PAK-EPA and ICCI to make Islamabad a plastic free city Director General, Pakistan Environment Protection Agency (Pak-EPA) Ms. Farzana Altaf Shah said that the polythene shopping bags were posing serious threats to human health and the environment besides causing blockage of streams, nullahs and sewerage lines. Therefore, the business community should cooperate in controlling their…
Pakistan and Iraq sign convention for elimination of double taxation
Federal Board of Revenue initiated negotiations on the Convention for the Elimination of Double Taxation with respect to Taxes on Income and on Capital and the Prevention of Tax Evasion and Avoidance with the Republic of Iraq. In this connection, tax delegations of both the countries met at Islamabad for the first round of negotiations…