The auto industry has slammed the Federal Board of Revenue (FBR) for withdrawing the regulatory duty (RD) on the imports of luxury vehicles at a time when the country is facing a serious dollar crunch. In a letter written to the Additional Secretary Revenue Division regarding termination of RD on March 31, Pakistan Automotive Manufacturers Association (PAMA) Director General Abdul Waheed Khan e
A leading American company plans to invest nearly $200 million in curating, processing, distributing, and importing pink Himalayan salt from Pakistan, officials said. The Miracle Saltworks Collective Inc (MSCI) conveyed its interest to the Ambassador of Pakistan Masood Khan at a meeting in Washington on Friday and shared their investment plans with him. An embassy official told journalists
Contrary to past practices, Finance Minister Ishaq Dar has not approached trade and industry leadership for taking their input for the upcoming budget to be unveiled on June 9. As less than a month is left, business leaders have deplored that the PDM government has not invited them for any consultative sessions to incorporate their proposals in budget 2023-24, fuelling fears that it will be an
With an overwhelmingly Muslim majority, there’s largely a distaste towards interest which is usually equated with exploitation, and often for good reason. Yet, the financial system unsurprisingly remains entrenched in it, irking the religious factions and parties who want to rid the country from the evils of riba. For years, the issue had been under legal scrutiny with the government of Pakistan a
The current fiscal year rendered an estimated four to five million Pakistanis jobless and threw 20-30m below the poverty line. Moreover, record high inflation, hovering above 30 per cent during the year, tested consumers’ and businesses’ will to survive. We may not see as many people added to the jobless pool in the next fiscal year. We may not see as many individuals slipping below the poverty