Amid falling local production, the cotton import bill swelled by 114 per cent in the first 10 months of FY25 compared to the last year. From July to April, the cotton import bill soared to $2.545 billion, compared to $1.189bn during the same period last year. According to data released by the State Bank, the significantly low cotton production has become a burden on the economy, particularly af
The Federal Board of Revenue (FBR) missed its revenue collection target by nearly Rs1.008 trillion in the first 11 months of FY25 due to slowing economic growth and a drop in imports, which impacted domestic sales tax collection. The FBR collected Rs10.233tr between July and May against the budgetary target of Rs11.241tr. However, the collection is 26 per cent higher than the Rs8.11tr collected
Finance Minister Muhammad Aurangzeb on Sunday hailed the results of the Ipsos Consumer Confidence Survey for the second quarter of 2025, saying the findings reflected the government’s successful microeconomic strategy over the last 14 months. The survey was conducted by Ipsos, a global market research firm that gathers insights on consumer behaviour, public opinion, and market trends. The firm
United States Treasury Secretary Scott Bessent said on Sunday that President Donald Trump could speak with China’s Xi Jinping “very soon” and that such a call could help break the logjam in the trade talks between the world’s two biggest economies. Trump on Friday accused Beijing of violating a deal reached last month in Geneva — negotiated by Bessent — to temporarily lower staggeringly high ta
The protest led by traders and supported by political parties against the centre’s trade policies intensified on Sunday as protesters blocked the Karakoram Highway (KKH) for traffic. Local importers and exporters have been protesting against what they call the exploitative policies of the Federal Board of Revenue (FBR). A local PML-N leader said the federal government — led by his party — wa