Business
Plastic exports up 31 pc in 11 months
Islamabad, Jul 15, 2019: The exports of Plastic Materials from the country witnessed an increase of 31.34 percent during the first eleven months of fiscal year (2018-19) as against the exports of the corresponding period of last year. The Plastic Materials exports from the country were recorded at $290.431 million during July-May (2018-19) against the…
Tightening to continue with 100bps hike expected
Karachi, July 15, 2019: The State Bank of Pakistan (SBP) is scheduled to announce its monetary policy on Tuesday, July 16, 2019. Arif Habib Research is expecting the central bank to increase its policy rate by 100bps to 13.25 percent. The primary reason for this increase in the policy rate, in our view, is to…
KSE-100 index loses edge by 518 points
Karachi, July 13, 2019: During the week KSE-100 index declined by 518 points (1.51 percent WoW) and closed at 33,672 points index level. Imposition of huge taxes, crackdown against Benami properties, dispute between government and business community about taxes and further hike in the RLNG prices by 4 percent, these all elements have their negative consolidated…
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…