Business
Auto Sales decreased by 2pc MoM and 5pc YoY
Karachi, July 12, 2019: Pakistan Automotive Manufacturers Association (PAMA) released the latest auto sales data for Jun’19, portraying a drop of 2 percent MoM / 5 percent YoY to 17,561 units. The decline in sales can be attributable to religious holidays in the month of June and a significant increase in car prices due to…
PWMA demands withdrawal of 17pc sales tax on domestic weaving industry
Karachi, July 12, 2019: Yousuf Yaqoob, Chairman, Pakistan Weaving Mills Association (PWMA) has criticized the imposition of 17 percent sales tax on domestic weaving industry. According to PWMA Chairman, the imports of yarn without payment of sales tax by the export-oriented units (EOUs) through Indemnity Bonds and DTRE for exports will jeopardize the existence of…
SBP likely to increase interest rate 100 bps
Karachi, July 12, 2019: The Monetary Policy Committee of State Bank of Pakistan (SBP) will meet next week on Tuesday, July 16, 2019, at SBP Head Office Karachi to decide about monetary policy rate for the next two months. Governor SBP, Dr Reza Baqir, will unveil the decision of the MPC at a press conference…
Govt confident about timely completion of Coastal Oil Refinery
Islamabad, July 11, 2019: The government is all set to perform groundbreaking of the much-delayed multibillion-dollar coastal oil refinery by end of this year with the confidence that the project, having the capacity to produce 250,000 barrels per day (BPD), would be completed within the scheduled time-frame. Pak Arab Refinery Limited (PARCO) has proposed to…
Standard Chartered Pakistan launches “Sustainability Review 2018”
Key Highlights of the “Sustainability Review 2018”: The Bank has launched a new Community Investment Strategy, Futuremakers by Standard Chartered, empowering the next generation to learn, earn and grow. This strategy builds on the success of our existing community programmes. Karachi, July 11, 2019: Standard Chartered Pakistan launches its annual Sustainability Review, setting out how…