KARACHI: Pakistan’s exports in November surpassed the target $2.6 billion set by the government for the month, an adviser to the Prime Minister tweeted on Wednesday. Adviser to the Prime Minister on Commerce and Trade Razak Dawood said that Pakistan’s exports during November reached the historic monthly high of $2.903 billion, up by 33 per … Read more
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry’s (FPCCI) Businessmen Panel has called for early implementation of barter trade mechanism signed between Pakistan and Iran during the 9th Joint Trade Committee meeting held in Tehran to jack up the bilateral trade to $5 billion annually, a statement said on Saturday. Businessmen Panel chairman … Read more
LAHORE: Rice Exporters Association of Pakistan (Reap) chairman Ali Hussam Asghar has said that the commodity’s exports reached 3.6 million tonnes last year. Talking to a delegation of the Lahore Economic Journalists Association, he said, the country earned $2 billion from rice exports. Hussam suggested the use of technology for increasing rice production and urged … Read more
FRANKFURT: German exports fell for the second month in a row in September, as Europe’s top economy grapples with global supply shortages, official data showed on Tuesday. Germany exported 112.3 billion euros ($130.2 billion) worth of goods in September, adjusted for the season, a 0.7 per cent drop from the previous month, according to federal statistics … Read more
RIYADH: Iraq’s October oil exports stood at 3.12 million barrels per day (bpd), Arab News quoted oil ministry, citing preliminary data from state-owned oil marketing company Somo, as showing. This is a slight increase in export volumes compared to the previous month of September when the country exported on average 3.08 million bpd. Data for the most … Read more
ISLAMABAD: Pakistan’s information technology (IT) exports increased to $635 million in the first quarter of the current fiscal year 2021/22, a senior official said. In a tweet, Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood said that Pakistan’s IT and IT-enabled services exports in the first quarter of FY 2021/22 increased … Read more
In the first two months of the current financial year, remittances increased by 10.4%, exports by 35.4%, and imports by 67.8%. The country’s current account deficit, including remittances, exports, and imports has increased. The Federal Ministry of Finance has released a monthly economic outlook. Non-tax revenues and foreign direct investment have declined, the monthly economic … Read more
KUALA LUMPUR: Malaysia’s exports rose 18.4 per cent to 95.59 billion ringgit ($22.85 billion) in August from a year ago, as exports to all major markets, Asean, China, the US, the European Union (EU), and Japan recorded a positive growth, official data showed on Tuesday. The export growth was contributed mainly by robust external demand … Read more
LAHORE: Guard Agricultural Research and Services (Guard) has started open trials for its “Hybrid basmati” seed to provide disease-resistant, long grain aromatic traditional variety to paddy growers of Punjab with higher production per acre, compared with the prevailing varieties. “We have sown our hybrid basmati variety over 50 acres of land in the core basmati … Read more
ISLAMABAD: The exports of the petroleum group and coal during the first month of FY 2021/22 grew 252.96 per cent, compared with the exports of the corresponding period of the last year. During the period from July 21, the petroleum group and coal worth $29,405 were exported, compared with the exports of $8,331 during the … Read more
ISLAMABAD: Pakistan’s exports of various sectors, including textiles and agriculture registered an increase in August 2021, a senior government official said on Monday. In a tweet, Adviser to the Prime Minster on Commerce and Investment Abdul Razak Dawood said that during August 2021, the exports of home textiles, men’s garments, cotton fabric, rice, jerseys, fruits, … Read more
KARACHI: A biometric verification facility for the Pakistan Single Window (PSW) has been inaugurated at the Karachi Customs Agents Association (KCAA) to facilitate Customs agents and importers/exporters to register at the PSW portal, a statement said on Monday. The KCAA said the association was first to launch such an important facility where the Customs agents … Read more
The Ministry of Commerce (MOC) has released Rs6 billion under duty drawback on local taxes and levies (DLTL), Advisor to Prime Minister on Trade and Investment Abdul Razak said. “I am glad to share that the Ministry of Commerce (MOC) has released a total of Rs6bn under DLTL schemes,” said Dawood, adding that this includes … Read more
ISLAMABAD: Pakistan’s exports to the seven regional countries witnessed an increase of 20.50 per cent in the first month of the current financial year 2021/22, compared with the corresponding month of the last year. The country’s exports to the regional countries including Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives account for $2.82 … Read more
ISLAMABAD: The Pakistan Customs and the Federal Board of Revenue (FBR) has processed the first consignment to export fresh White Chaunsa to Moscow, Russia from Pakistan under the TIR Convention. The FBR has stated that this is one of the first endeavors to introduce Pakistani fresh fruits and indigenous goods to Russia. It will help … Read more
KARACHI: Pakistan’s mobile phone manufacturing company Inovi Telecom Pvt Ltd has exported 5,500 units of 4G handsets to the UAE, becoming the first Pakistani firm to export mobile phones. The Pakistan Telecommunication Authority (PTA) has issued mobile manufacturing authorisation licence to Inovi Telecom in April 2021. Within four months, the company has started manufacturing and … Read more
NAIROBI: Kenya is seeking to increase its horticulture exports to China in order to boost its revenues, the industry said on Monday. Ojepat Okisegere, CEO of Fresh Produce Consortium of Kenya told journalists in Nairobi that China, which has a huge consumer market, can give better revenues as compared to traditional markets in Europe. According … Read more
LAHORE: The power distribution companies in Punjab and the Sui Northern Gas Pipelines Limited (SNGPL) have started supplying utilities to the five export-oriented sectors on subsidised tariffs, despite the non-issuance of a notification, in this regard. The Lahore Electric Supply Company (Lesco), Gujranwala Electric Power Company (Gepco), Multan Electric Power Company (Mepco), Faisalabad Electric Supply … Read more
KARACHI: Monsoon rains and the halt to the construction activities due to Eid-ul-Azha holidays during July have badly affected the cement demand, as the sector posted a negative growth of 19.41 per cent. The total cement dispatched in July stood at 3.899 million tonnes against 4.838 million tonnes during July 2020. Domestic dispatches dropped to … Read more
SHANGHAI: Shanghai exported 206,000 motor vehicles in the first half of 2021 (H1), up 1.65 times from the same period last year, Shanghai’s Customs said Tuesday. The total value increased to 20.64 billion yuan (about 3.19 billion US dollars), up 1.9 times year on year, said the customs, adding that the volume and value of … Read more
ISLAMABAD: The government has set an export target of $31.20 billion and services $7.5 billion, while the total exports will remain in the range of $38.70 billion to $40 billion. In a joint press conference with spokesperson to the Prime Minister Shahbaz Gill, the Adviser on Commerce and Investment Abdul Razak Dawood said that in … Read more
KARACHI: The overall exports of Pakistan surged 17.3 per cent to $2.35 billion in July 2021, compared with the exports of $2 billion in July 2020, a senior government official said. In a tweet, Adviser to the Prime Minister on Trade and Commerce Abdul Razak Dawood said: “These are the highest-ever exports in the month … Read more
LAHORE: The country’s textile sector is in a macro sweet spot, amid rampant demand in the domestic market and internationally, as global economies experience “return to normal” phenomenon, pushing up orders for apparels, BOL News has learnt. Pakistan’s textile exports reached its highest level in history in FY21, being recorded at $15.4 billion (+23 per cent … Read more
WASHINGTON: The US economy grew at a lower-than-anticipated annual rate of 6.5 per cent in the second quarter, marking the return to an above pre-pandemic level of overall economic activity, the US Commerce Department reported Thursday. However, the 6.5 per cent gain was considerably less than the 8.4 per cent Dow Jones estimate. In the … Read more
ISLAMABAD: Pakistan’s all major chambers of commerce and industry have expressed full confidence in the government’s business-friendly policies and measures taken for the ease of doing business and agree for consultative process for the formulation of a strategy to increase tax revenue, a statement said on Friday. The presidents of the country’s major chambers of … Read more
ISLAMABAD: Pakistan’s gold imports decreases 22.79 per cent to $8.977 million during the fiscal year 2020/21, compared with the corresponding period of the last fiscal year, the Pakistan Bureau of Statistics (PBS) reported. The gold imports during July-May 2019/20 stood at $11.627 million. In terms of quantity, Pakistan imported 148 kilogrammes of gold during the period … Read more
BEIJING: The exports of Pakistani cosmetics to Chinese customers, particularly the Muslim community would be a good opportunity for the Pakistani products, as China has a huge and approachable market, an official said. Ahmad Zafar, director of Beauty Expert (Pvt) Ltd, said: “China is a huge market and it is an approachable market, as well. … Read more
KARACHI: The current account balance has recorded a deficit of $1.85 billion for the fiscal year 2020/21, according to the statistics of the balance of payment released by the State Bank of Pakistan (SBP) on Monday. The current account deficit; however, narrowed, compared with the deficit of $4.45 billion in the preceding fiscal year. The … Read more
