Amid unprecedented high prices, consumers may brave another challenge of facing a shortage of petroleum products following the suspension of distribution of oil products by the oil tankers’ association from Monday morning. However, Pakistan Petroleum Dealers Association (PPDA) chairman Abdul Sami Khan said some pumps in Karachi had started getting dry while upcountry pumps had so far remained u
Farmers have asked the government to tax the rich instead of the poor to remove unjust burden on the people, particularly the farming community which is running the economy by toiling day and night at their fields. “The government should tax the rich and elite class of the country by going for direct taxes instead of overburdening the poor masses by levying indirect taxes like general sales t
Large-scale manufacturing (LSM) experienced a year-on-year negative growth of 1.09 per cent in the first month of the current fiscal year, data released by the Pakistan Bureau of Statistics showed on Monday. On month-on-month, it witnessed a steeper contraction of 3.62pc in July. The decline in LSM can primarily be attributed to a slowdown in production within the textile and clothing sector
As imports are allowed, the mobile phone manufacturing units have resumed their production, currently satisfying up to 90 per cent of the country’s demand for phone sets. Pakistan Bureau of Statistics (PBS) data showed mobile phone imports surged 77pc year-on-year to $179.47 million during July-August of 2023-24. Pakistan Mobile Phone Manufacturers Association (PMPMA) Senior Vice Chairman Mu
The crackdown against illegal currency dealers has kept the exchange rate under control so far as the dollar lost in both the open and interbank markets. The State Bank reported the closing price of dollar as Rs294.90, noting a depreciation of Rs1.05. The dollar was priced as Rs295.95 a day earlier. Since the peak of Rs307, the dollar has lost Rs12 in the inter-bank market while the day-to-d