The Japanese automaker reported a 7.2% jump in global group sales last year, including those at small-car maker Daihatsu and truck unit Hino Motors. Those two subsidiaries and affiliate Toyota Industries have been beset by governance issues involving certification test procedures for cars and engines that could potentially hurt the brand’s global reputation for quality […]
The Pakistan Tea Association (PTA) and the Karachi Chamber of Commerce and Industry (KCCI) have also asked that the government address other irregularities in tea imports and stop abusing tax exemptions. The Federal Board of Revenue was encouraged to take notice of the widespread misuse of tax exemptions in Azad Kashmir and the Federally Administered […]
The Saudi riyal’s market value unexpectedly increased by 30% on Tuesday, but the price stayed same, according to Exchange Companies Association of Pakistan (ECAP) Chairman Malik Bostan. For Umrah, Saudi riyal purchases typically begin prior to Ramadan. The purchasing of Saudi cash increased by 30% in just three to four days, he noted, “which reflects […]
Meezan Bank Limited recorded its best-ever financial year in 2023, turning a whopping Rs58.91 billion profit. This remarkable amount signified a significant rise of more than 90% in contrast to the profits of the preceding year. The Board of Directors decided to release a portion of the revenues as dividends to honor this momentous occasion […]
The KSE-100 index rose more than 900 points on Wednesday, continuing the winning run for the Pakistan Stock Exchange (PSX), as investors gained confidence in the possibility of forming a coalition government. A mutual decision by political parties, who revealed intentions for a coalition administration during a news conference, was the catalyst for the trading […]
The All Pakistan Textiles Mills Association (APTMA) has urged the federal government to review the energy rates in order to make textile exports competitive in the global market, as over 50% of businesses in the textile and apparel sector are at high risk of closing in the upcoming weeks. An ongoing increase in energy prices […]
An ECC meeting of the cabinet was held in Islamabad in which the Federal Board of Revenue (FBR) proposed an increase in sales tax for auto sector manufacturing and assembling vehicles at the local level. After a detailed discussion, the ECC cabinet approved the process for determining the 25 percent sales tax rate on locally […]
Pakistan’s auto industry is off to a great start in 2024. In January, car sales reached 10,500 units, up 81% from 5,816 units in December 2023. Sales of automobiles, excluding non-members of the Pakistan Automotive Manufacturers Association, totaled 11,700 units, a 72% increase from the previous month. While PAMA car sales increased 5% year over […]
February 14, 2024: It appears that the Pakistani government is considering raising the price of high-speed diesel (HSD) by Rs6.3 per liter for the second half of the month. This possible rise coincides with changes in the price of oil globally and other economic factors that affect the regional fuel market. Ex-refinery HSD prices have […]
The greenback also topped 150 yen for the first time since November following the data. Tuesday’s data showed that the Consumer Price Index (CPI) rose 0.3% every month in January, above the 0.2% increase expected by economists polled by Reuters. On a year-on-year basis, it gained 3.1% versus the 2.9% estimated growth. Excluding the volatile […]
