Jakarta: Indonesia’s president announced the restriction on palm oil exports Friday, citing a lack of the product’s cooking oil. It has been running out of palm oil since November as farmers resort to exports to profit from global price increases. Authorities, fearing societal unrest, have sought to secure supplies. “The government will prohibit the export … Read more
LAHORE: The total cement dispatches declined 6.25 per cent in March 2022 to clock-in at 5.04 million tonnes, compared with 5.37 million tonnes during the same month of last year. According to the data released by All Pakistan Cement Manufacturers Association (APCMA), the local cement dispatches during March 2022 recorded an increase of 4.02 per … Read more
ISLAMABAD: The exports from the country witnessed an increase of 25.88 per cent during the first seven months of the current fiscal year (2021-22) as compared to the corresponding months of last year, the Pakistan Bureau of Statistics (PBS) reported. Read more: Pakistan’s exports to China setting records this year: official According to PBS data, … Read more
LAHORE: The exports of hand-knotted carpets are on the decline due to the dearth of skilled workforce, expensive raw materials and higher cost of doing business. The indifferent attitude of successive governments had also played a key role in the downfall of the carpet industry, which was once vibrant and attracted buyers from across the … Read more
KARACHI: Textiles, being one of the major components of the Pakistan economy, make up around 8.5 per cent of GDP and contribute around 60 per cent to the country’s total exports. However, the textile sector underperformed during the last few years, owing to the power shortages, high manufacturing costs and the lack of research and … Read more
KARACHI: As Pakistan received $18 billion in remittances during the first seven months of FY22, experts and economists believe the country is likely to manage its widening current account deficit, if the trend persists. However, they said Pakistan needs to curtail its swelling import bill, boost its exports and attract foreign direct investment (FDI) to … Read more
KARACHI: The Site Association of Industry has declared the recent increase in petroleum products prices disastrous for the economy while appealing to the Prime Minister to withdraw the recent increase, a statement said. SITE President Abdul Rashid, in an appeal to Prime Minister Imran Khan, Energy Minister Hammad Azhar and Commerce and Investment Adviser Abdul … Read more
LAHORE: Pakistan’s vibrant fashion industry is gradually increasing its share in the global market, an official said. “Art promotion is necessary for developing soft image of any country. The fashion industry has the potential to earn huge foreign exchange for the country,” Lahore Chamber of Commerce and Industry (LCCI) president Mian Nauman Kabir said while chairing a … Read more
LAHORE: Despite considerable economic growth due to the easy market access in the post-pandemic scenario, e-commerce in Pakistan still remains far below its potential, market players and e-retailers said. The digital economy boomed during the Covid-19 crisis. As people embraced social distancing, they turned to online shopping more than ever before. The market share of … Read more
Exports boost Al Shaheer 80% revenue Preference for the Al Shaheer Corporation (ASC) stems from diversification into frozen food business, insulation against the rupee depreciation, and attractive trading multiples significantly lower than industry peers. The company has a market share of over 8 per cent in the country’s meat exports. ASC derives 80 per cent … Read more
ZURICH: Swiss watch exports rebounded sharply in 2021, breaking the record set in 2014 by rising to nearly 22.3 billion Swiss francs ($24.1 billion, €21.5 billion), the industry federation announced on Thursday. Amid a strong recovery in the luxury sector, watch exports were up 2.7 per cent compared to their pre-pandemic level in 2019, and … Read more
KARACHI: The government should aim to create self-sufficiency in food and chemicals to reduce dependency on drastically increasing imports, an official said on Monday. Union of Small and Medium Enterprises (Unisame) president Zulfikar Thaver said, “Self-sufficiency is the best answer in the present situation for a burdened and indebted economy. The heavy imports are consuming … Read more
LAHORE: The government has taken several measures that helped Pakistan in improving its ranking in the Ease of Doing Business. The large-scale manufacturing has improved with the increase in exports but nothing has been done for the Small and Medium Enterprises (SMEs) and cottage industry, said Nasir Hameed Khan, chief executive officer of the Dawn … Read more
ISLAMABAD: Fiscal 2020-21 (July-June) proved an excellent year for Muhammed Saleem, as he exported garments worth $2.5 million. This year he aimed for a higher target, but the crippling gas shortages shattered all his dreams. “I was aiming to export garments worth at least $3 million during the ongoing fiscal year,” said Saleem, who owns … Read more
BEIJING: China on Tuesday unveiled new guidelines to ease pressures on foreign trade companies and keep the country’s exports and imports stable. The country will further open up the economy and carry out cross-cyclical adjustments to support medium, small and micro-sized foreign trade companies, and guarantee their orders and stabilise expectations, according to the guidelines … Read more
YANGON: Nearly 1,600 tonnes of teak from Myanmar were exported to American companies last year, circumventing the US sanctions imposed to deny the junta millions of dollars in profits, an activist group said on Tuesday. The Southeast Asian nation has been in turmoil since a February 1 coup triggered widespread unrest that the military has sought … Read more
ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) urged the government to focus on diversification of exportable products and markets in order to boost the volume of exports, which would ensure achieving better economic growth of the country and address many economic woes. ICCI president Muhammad Shakeel Munir said that Pakistan was mostly relying … Read more
ISLAMABAD: Pakistan’s top commerce official is pushing the government to bet big on the export industry by maintaining tens of millions of dollars of policy support even as the South Asian nation looks to tighten its fiscal belt in a mid-year budget this month, Arab News reported. The country’s all-important textile industry is at the centre of … Read more
The cement dispatches declined 4.2 per cent in December 2021 to reach 4.59 million tonnes compared with 4.79 million tonnes in December 2020, data by All Pakistan Cement Manufacturers Association (APCMA) showed. Local cement dispatches during December 2021 were 4.057 million tonnes compared with 4.159 million tonnes in December 2020, recording a decline of 2.45 … Read more
KARACHI: The business community has demanded the State Bank of Pakistan (SBP) to restore the 180 days period for realisation of export proceeds, a statement said on Friday. On January 5, 2022, the SBP amended the foreign exchange manual to reduce the number of days from 180 to 120 for the realisation of the export … Read more
ISLAMABAD: The exports of services from Pakistan witnessed an increase of 22.94 per cent during the first five months of financial year 2021/22 as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The exports of services during July-November 2021/22 were recorded at $2720.94 million against the exports of $2213.16 … Read more
ISLAMABAD: The exports of leather gloves during the first five months of the fiscal year 2021/22 grew 11.81 per cent, compared to the exports of the commodity during the corresponding period of the last year. During the period from July-November 2021, leather gloves worth $119,516 were exported, compared with the exports of $106,890 during the … Read more
DHAKA: Bangladesh’s total exports in the first half of the fiscal year 2021/22 reached nearly $25 billion, up 28.41 per cent year-on -year, according to the latest official data. The Export Promotion Bureau (EPB) data posted on its website showed that Bangladesh earned $24.69 billion from exports in the July-December period, compared to $19.23 billion … Read more
ISLAMABAD: Prime Minister Imran Khan on Monday said that industrialisation and increasing of exports were keys to a country’s progress and prosperity. “Selling vegetables will not enhance the national wealth. Wealth creation of a country is impossible without industrial development while exports increase supplement such efforts,” the prime minister said while addressing a launching ceremony … Read more
KARACHI: The Union of Small and Medium Enterprises (Unisame) has urged Prime Minister Imran Khan to promote hemp exports and its medical uses, an official said. Unisame president Zulfikar Thaver urged the prime minister to set up a regulatory authority for the promotion of hemp (Bhang) for medicinal and industrial use and exports as well. … Read more
ISLAMABAD: The exports of textile commodities witnessed an increase of 28.41 per cent during the first five months of the current fiscal year (2021/22), compared with the corresponding period of the last year and went up over 35 per cent on a year-on-year basis, the latest data of the Pakistan Bureau of Statistics (PBS) revealed. … Read more
CAIRO: The Saudi economy expanded by an annual rate of 7 per cent in the third quarter of this year driven by higher oil production, Arab News quoted the data released by Gastat. This is the highest yearly growth rate since 2012. Growth was also upwardly tweaked to 7 per cent compared to an initial estimate of … Read more
ISLAMABAD, Dec. 1 (Xinhua) — Pakistan’s exports increased by 27 percent during the first five months of the current fiscal year 2021-2022, compared with the same period of the last fiscal year, an official said on Wednesday. The country’s exports during July-November of 2021 were recorded at 12.365 billion U.S. dollars as compared to 9.747 … Read more
