Saudi Arabia has extended the maturity of its $3 billion deposit placed with the State Bank of Pakistan (SBP) for another year, continuing a financial lifeline that has helped bolster the country's foreign exchange reserves amid ongoing liquidity challenges. The extension, made through the Saudi Fund for Development (SFD), maintains a facility that has been in place since 2021 and rolled over r
Japan’s investment in Pakistan has crossed USD 1.3 billion, the Japanese Ambassador Akamatsu Shuichi said on Tuesday, highlighting over seven decades of diplomatic and economic relations between the two nations. Speaking at the Annual Gala Dinner of the Pakistan-Japan Business Forum (PJBF) held at local hotel, the Ambassador said that ties between the two countries date back more than 70 years,
The Directorate General of Customs Valuation, Karachi, has issued new customs values of the polyester partially oriented yarn being imported from China for the assessment of duty/taxes. According to a ruling (2026) issued by the directorate on Thursday, a representation was received from the Pakistan Yarn Manufacturers Association (PYMA), wherein it was contended that the values of the said ite
Sui Northern Gas Pipelines Limited (SNGPL) has revealed that it is facing grievous liquidity issues due to an alarming level of outstanding dues of Rs 114.287 billion against the power sector, official sources told Business Recorder. “Power plants have shown their inability to pay outstanding dues to SNGPL due to non-release of amounts by CPPA-G and requested SNGPL to take up the matter with re
After months of serious pressure by local automobile manufacturers, the government has decided to regulate used car imports as the local auto industry sounded alarms over 120,000 imported vehicles within a year, which had pushed the local industry to the verge of collapse. The decision was taken here on Thursday during a high-level meeting chaired by Special Assistant to the Prime Minister on I