ISLAMABAD: The exports of sports goods witnessed an increase of 20.73 percent during the first four months of the current financial year (2021-22) as compared to the exports of the corresponding period of last year. Pakistan exported sports goods worth $105.120 million during July-October (2021-22) against the exports of $87.070 million during July-October (2020-21), showing … Read more
KARACHI: The Union of Small and Medium Enterprises (Unisame) has urged Federal Minister for Science and Technology Shibli Faraz to recommend export of Khaskhas (white poppy seeds without any further delay, as the SME farmers and exporters are losing opportunities in the global markets and suffering due to wrong policies, a statement said on Friday. … Read more
ISLAMABAD: Pakistan earned $195.990 million by providing different information technology (IT) services in various countries during the first month of the current financial year 2021/22. This shows a growth of 20.22 per cent, compared with $163.020 million earned through the provision of services during the corresponding period of the last fiscal year 2020/21, according to … Read more
KARACHI: The Utility Stores Corporation (USC) has been found to have sold tonnes of the imported white sugar in the market instead of selling it to the under-privileged people at subsidised rates. The Customs authorities have seized 500 bags (50kg each) of white sugar, which was being smuggled to Afghanistan. “[The] Customs Squad Nowshera intercepted … Read more
DUBAI: The UAE will pursue an aggressive timetable to negotiate broad economic agreements with eight countries it wants to deepen trade ties with, hoping it can wrap up some of those talks within a year, Reuters quoted UAE trade minister, as saying. The Gulf state, already a hub for global trade, this month announced plans … Read more
BEIJING: The localisation is a key to success for the high-end Pakistani handicrafts such as a variety of minerals, marbles, wooden and leather products. “This design is specially made for the Chinese customers; they like it a lot,” Muhammad Kamil Khan, CEO of Pak Link Enterprises, said, while showcasing the high-end Pakistani handicrafts in the … Read more
ISLAMABAD: The Federal Board of Revenue (FBR) has successfully developed and rolled out a new module in WeBOC system for online Export Facilitation Scheme (EFS) authorisation application, a statement said on Wednesday. The exporters can avail this facility after getting registered in the WeBOC System. In this regard, a new feature has been added in … Read more
KARACHI: The Model Customs Collectorate (MCC) Peshawar has said that the quantum of duty-free imports from Afghanistan has surged 73 per cent in the fiscal year 2020/21. The volume of imports from Afghanistan cleared through the collectorate during the fiscal year 2020/21 was Rs84.4 billion, compared with Rs65.44 billion in the preceding fiscal year, showing … Read more
KARACHI: The Korangi Association of Trade and Industry (Kati) has congratulated Prime Minister Imran Khan on completing three years of his government, a statement said on Friday. Kati patron-in-chief S M Muneer said that the prime minister had informed in his speech that the foreign exchange reserves had crossed $27 billion-mark for the first time, … Read more
KARACHI: Instability in Afghanistan has caused a significant drop in exports from Pakistan by around 39 per cent in July 2021. The statistics released by the State Bank of Pakistan (SBP) revealed that Pakistan’s exports to Afghanistan fell to $38.55 million in July 2021, compared with $62.77 million in the same month of the last … Read more
Pakistani exporters and traders will participate in ten exhibitions to promote various products in China during the fiscal year 2021-2022 (FY22). Due to Covid-19, more emphasis has been placed on virtual activities, however, some physical exhibitions will take place during the current fiscal year. The China International Fair for Trade in Services (CIFTIS), which is … Read more
BEIJING: It is an inevitable trend for China to export complete sets of equipment and transfer production capacity, while Pakistan is the best destination to reach. Based on Pakistan’s large population, the construction industry will grow rapidly in the next few years. As the demand for core material of the construction industry, steel, cement, glass … Read more
BEIJING: Pakistani exporters and traders would participate in 10 exhibitions to be held in China during the fiscal year 2021/22 to promote different products. Due to the Covid-19, more emphasis has been placed on virtual activities; however, some physical exhibitions will also be held during the ongoing fiscal year. The 10 exhibitions, with Pakistan’s participation, … Read more
LAHORE: Considering the surplus after meeting domestic consumption of 2.5 million tonnes, Pakistan is ready to export 3.75 million tonnes rice annually to China, an official said on Tuesday. S M Naveed, president of the Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI), said that China has emerged as one of the destinations for Pakistani … Read more
ISLAMABAD: Pakistan’s services trade deficit contracted 43.45 per cent during the fiscal year 2020/21, compared with the corresponding period of 2019/20, the data released by the Pakistan Bureau of Statistics (PBS) revealed. The services trade deficit during July-June 2020/21 was recorded at $1.875 billion against the deficit of $3.315 billion in July-June 2019/20, showing a … Read more
KARACHI: Quarantine regulators from six different countries are scheduled to visit Pakistan in the near future to assess the fresh edible and meat export supply-chain, which could lead to increased exports of meat, rice, fruits and vegetables, an official said. The quarantine regulators from Mexico, the Philippines, Australia, China, Russia and Egypt are scheduled to … Read more
ISLAMABAD: The Ministry of National Food Security and Research will constitute a committee to keep a check on the cotton price in the country, a senior government official said on Wednesday. Addressing a press conference, Federal Minister for National Food Security and Research Syed Fakhar Imam said: “[The] ministry will constitute a Cotton Price Review Committee, which … Read more
BEIJING: Pakistani mango festivals were held in Shanghai and Suzhou, China by Hongqiao Import Commodities Exhibition and Trading Center (HQIICET). Consul General of Pakistan in Shanghai Hussain Haider attended the event. In his speech for the events, he said Pakistan grows high-quality mangoes, which are exported to more than 100 countries. With a unique soil … Read more
ISLAMABAD: Prime Minister Imran Khan has decided to meet the exporters once a month to address their grievances for better economic growth, a government official said on Monday. Addressing a press conference, Prime Minister Imran Khan has decided to meet the exporters once a month to address their grievances for better economic growth, a government … Read more
GENEVA: Trade in medical goods registered growth of 16.3 per cent in 2020 compared with 4.7 per cent growth in 2019 when the Covid-19 pandemic was just starting, according to the World Trade Statistical Review 2021 issued by the World Trade Organisation (WTO). Exports of medical products, including medicines, medical equipment and PPE, rose by … Read more
KARACHI: The Federal Board of Revenue (FBR) on Friday formally launched the Export Facilitation Scheme 2021. The FBR issued an SRO 957(I)/2021 to implement the provisions for facilitating exports from Pakistan. Previously, the tax body issued draft law on July 9, 2021, inviting feedback from the stakeholders. According to the latest SRO, the scheme would … Read more
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday deferred the proposed. Strategic Trade Policy Framework (STPF) 2020/25, seeking more input from the stakeholders for approval and fixation of the cotton support price. Chairing the meeting through a video link, Federal Minister for Finance and Revenue Shaukat Tarin said the factors related to a … Read more
ISLAMABAD: Pakistan will start exporting mobile phones from next year, a senior government official said. Adviser to the Prime Minister on Commerce and Industry Abdul Razak Dawood said this in a meeting of the Senate Standing Committee on Commerce held at the Parliament House on Tuesday. The adviser apprised the meeting, chaired by the Committee … Read more
LAHORE: The five export-oriented sectors, textiles, surgical goods, carpets, leather and sports goods, are still awaiting the new notification regarding the subsidised electricity and gas tariffs, as the federal government remained unable to issue the same, BOL has learnt on Tuesday. The federal government has failed to issue new notification regarding the subsidised energy tariffs … Read more
LAHORE: Pakistan has registered strong export proceeds after the textile exports reached its highest level of $15.40 billion in FY21 with the value-added segment registering an uptick of 28.50 per cent year-on-year (YoY) to reach $12.40 billion. Hamza Kamal, a senior investment analyst at AKD Securities, said that the country benefited from the trade wars … Read more
ISLAMABAD: Japan was focusing on developing a strong export base in Pakistan and was looking beyond the traditional sectors of textiles and automobiles, a diplomat said. During a call on meeting with Federal Minister for Finance and Revenue Shaukat Tarin Japanese Ambassador to Pakistan Kuninori Matsuda said that his country saw opportunities for investment in … Read more
KARACHI: The rupee weakened 41 paisas to touch a five-month low of Rs159.33 against the dollar on Thursday, owing to the demand for oil imports and other commodities payments, dealers said. The exchange rate ended at Rs158.92 on Wednesday in the interbank foreign exchange market. The rupee was last seen at the same level on … Read more
ISLAMABAD: Pakistan has the potential of earning $5 billion annually through the exports of precious stones, which will have a positive impact on the national economy and create millions of jobs. This was informed during a meeting of the Gems, Jewellery and Minerals Task Force, which was chaired by Prime Minister Imran Khan. Currently, Pakistan … Read more
