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Economy

Pakistan Stock decline 17pc

The Biz Update5 years ago02 mins

Karachi, September 3, 2019: Market opened on a positive note today with +25 points an extended gains till +190 points after which selling activity caused the index to plunge by 318 points. Last half hour of market kept the selling pressure, ending the session with -248 points (unadjusted). OGDC, PPL performed well earlier in the…

Business

PWMA demands withdrawal of 17pc sales tax on domestic weaving industry

The Biz Update5 years ago1 year ago02 mins

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…