The auto sector has demanded that the government implement measures to curb the rising imports of used cars, which are not only undermining local production but also instrumental in transferring forex through the grey channel. In its budget proposals to the Federal Board of Revenue (FBR), the auto sector said that during 2022-23, the industry imported parts amounting to $1.57 billion and all th
The heatwave has revived the ailing sales of air conditioners while the run-up to Eidul Azha, to be celebrated in the third week of June, has combined with the heat to propel sales of deep freezers and refrigerators despite a 30-40 per cent rise in prices and an unbearable power tariff. An overwhelming response from buyers has forced dealers to pull down their shutters in the afternoon. Acco
Due to a bearish trend in the international market, petrol and high-speed diesel (HSD) prices are expected to decrease by approximately Rs6.50 to Rs7.50 per litre on May 31, despite a slight exchange rate loss. Informed sources said the prices of petrol and HSD had declined in the international market by about $3.25 and $2.10 per barrel, respectively, in the last fortnight. This is on top of th
KARACHI: The Pakistan Stock Exchange (PSX) maintained its record-breaking spree in the outgoing week, as the benchmark KSE 100 index scaled a new all-time high closing amid a positive economic outlook. Arif Habib Ltd (AHL) said the market maintained its bullish trend driven by promising talks with the IMF on a new loan and the UAE’s commitment to investing $10bn in Pakistan’s promising economic
Pakistan’s Ambassador to China Khalil Hashmi briefed Chinese and international enterprises and entrepreneurs about the lucrative incentives being offered by Islamabad and invited them to invest in the National Aerospace Science and Technology Parks as well as in the thriving unmanned aerial vehicle (UAV) sector. Speaking at the opening ceremony of the 8th Drone World Congress being held from Ma