Easing auto parts imports revived the production volumes thus accelerating the month-on-month sales of cars, LCVs, pickups and vans by 49 per cent in August to 7,579 units which has been the highest since March compared to 5,092 during July. However, sales remained lower by 36pc against 11,789 units sold in August 2022, showed data issued by the Pakistan Automotive Manufacturers Association (P
Remittances sent by overseas Pakistanis slightly increased by 3 per cent month-on-month in August while it tumbled by over 23pc year-on-year. However, the inflow of remittances during the first two months of the current fiscal year also fell by 21.6 per cent. The data released by the State Bank of Pakistan (SBP) on Monday showed that the remittances totalled $2.092bn in August compared to $2.029bn
Finance Minister Shamshad Akhtar has directed the Federal Board of Revenue (FBR) to prepare a proposal for revamping the tax system and increasing the tax-to-GDP ratio, which has remained stagnant for years, Dawn has learnt from official sources. The FBR officials, however, have expressed reservations about the feasibility and impact of the proposed restructuring plan and have suggested that po
The crackdown against illegal currency dealers has proven highly fruitful, as the dollar rate in the open market fell below the price at the interbank market on Monday. Currency dealers have reported that the open market is now flush with dollars and will sell more than $100 million to the banks this week, while they sold $20m in the last two days of the previous week. The State Bank of Paki
Despite strong opposition from Karachi-based industrial and political leaders and serious concerns from members of the National Electric Power Regulatory Authority (Nepra) over the detrimental economic impact of rising energy prices, the Power Division on Monday sought staggered application of about Rs10 per unit increase in K-Electric’s applicable tariff. At a public hearing presided over by N