The government is considering introducing a separate Harmonised System (HS) code for used footwear imports, a proposal that may be incorporated into the upcoming federal budget, as industry stakeholders raise concerns over market distortions affecting local manufacturers. The development came during a meeting between a delegation representing Pakistan’s leather and footwear industry and Federal
Selling pressure returned to the Pakistan Stock Exchange (PSX) as conflict in the region continued to escalate, pushing the benchmark KSE-100 Index down by over 2,000 points during the opening minutes of trading on Wednesday. At 9:25am, the benchmark index was hovering at 155,131.90, a decrease of 2,000.19 points or 1.27%. Selling was observed in key sectors, including automobile assemblers,
Asian markets skidded on Wednesday, with investors cutting crowded positions in gold and chipmakers on worries a wider Mideast war could deliver an energy shock that raises inflation and delays rate cuts. Shares in Seoul dived 4% to take two-day losses beyond 11% as fast-money and foreigners bailed out of a market that had soared on memory chipmakers’ vast AI-driven profits. The selloff d
Pakistan may approach the International Monetary Fund (IMF) for relief on a carbon levy imposed on furnace oil, as the government scrambles to secure energy supplies amid escalating Gulf conflict. In an interview to Aaj News programme News Insight with Amir Zia on Tuesday, Federal Minister for Petroleum Ali Pervaiz Malik said the prime minister has directed the finance ministry to engage the IM
National Bank of Pakistan (NBP) has embarked on the journey towards integration of technology systems via new Enterprise Service Bus (ESB) platform. The signing ceremony was held at NBP Head office, graced by Shaikh Ausaf Ahmed, Chief Technology Officer (A) from NBP and Amin ul Hafeez, CEO Arcana Info Pvt Ltd. This upgrade supports the Bank’s digital transformation and modernizes its IT setu