Experts have expressed grave concern about the plight of the struggling auto industry and its future outlook, while appealing to the government to control the massive influx of imported vehicles through rationalising taxes. They said such a move will revive the local market, protect the interests of local car manufacturers and ensure the sustainability of livelihoods. “The auto industry has
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has demanded that the government immediately reduce the interest rate to 12%. Electricity price should be reduced to 9 cents per unit for all industries while contracts with the independent power producers (IPPs) should be revisited, it said. FPCCI Regional Chairman and Vice President Zaki Aijaz, while addressing a press co
Pakistani currency on Wednesday closed stable at Rs278.30 against the US dollar in the inter-bank market, indicating that demand and supply of the foreign currency have hit equilibrium. Before closing at the previous day’s level, the currency briefly extended gains by Rs0.13 and reached its intra-day high at Rs278.17 against the greenback on optimism Prime Minister Shehbaz Sharif would be able
Expressing concern over the recent target killing of business leader Asif Suleman Bilwani, businessmen and industrialists of Karachi have appealed to the army chief, prime minister and Sindh chief minister to swing into action forthwith against the runaway crime rates including target killings, street crimes, armed robberies and other heinous crimes in the economic hub of the country. They
Finance Minister Muhammad Aurangzeb expressed hope for a key policy rate cut this year by the State Bank of Pakistan (SBP) in “line with inflation” on Wednesday. The comments come as a Reuters poll of market watchers found that the SBP is widely expected to cut its key interest rate next week by 100 basis points (bps) after holding it at a record 22pc for seven straight policy meetings. Spea