The Gilgit-Baltistan Collectorate of Customs collected a record revenue of Rs5.525 billion from Sost dry port as duties and other taxes on goods imported from China through the Khunjerab Pass during July-December this year. GB Collector Customs Mohammad Arshad Khan told Dawn that the collectorate had collected Rs2.287bn more than last year’s collection of Rs3.238bn, an increase of 71 per cent.
While launching the Exim Bank of Pakistan (EBP), Caretaker Finance Minister Dr Shamshad Akhtar on Thursday announced the export finance schemes (EFSs) would stand transferred to the new institution after being phased out from the State Bank of Pakistan (SBP) because of legal compulsions. The minister said EFSs were being phased out from the SBP under the reforms programme as part of the
High gas prices appeared to have made textile exports uncompetitive on the world market resulting in an eight per cent month-on-month and 7pc year-on-year decline to $1.3 billion in November. In rupee terms, the country’s textile exports clocked in at Rs376bn, down by 7pc month-on-month but rose 19pc year-on-year owing to rupee depreciation against the dollar, said a note by Topline Securities
The State Bank of Pakistan’s (SBP) foreign exchange reserves fell below $7 billion for the first time in the current fiscal year, posing challenges for the government to stabilise the exchange rate and meet debt servicing obligations. The SBP on Thursday reported a $136 million decline in reserves to $6.904bn due to debt repayments. This outflow of dollars brought the total SBP reserves to a
Share prices dropped heavily on Tuesday, resulting in the second-biggest overnight fall in the 32-year history of the benchmark index. As many as 94 shares of the KSE-100 index took a beating while the remaining six shares either advanced or closed flat. As a result, the KSE-100 index closed at 62,833 points after losing 2,371.64 points or 3.6 per cent from the preceding session. Speaking t