Pakistan exported 120,000 mobile phone sets to various markets in the Middle East and Africa in the current month, but the local manufacturer expressed dissatisfaction over the quantum. Addressing a ceremony held at the Pakistan Telecommunication Authority (PTA) headquarters to mark the achievement, Member (Finance) Muhammad Naveed and Member (Compliance & Enforcement) Dr Khawar Siddique
Kohinoor Spinning Mills Ltd said on Wednesday it’s temporarily shutting down production owing to multiple reasons, including the “prevailing global and economic downturn,” high production cost and low demand. It told shareholders that the situation is likely to improve in the first quarter of next year and that may enable the company to resume operations. Many textile makers are facing a liq
A comprehensive Workplace Safety Programme (WSP) is being launched in Pakistan by the signatories to the International Accord for Health and Safety in the Textile and Garment Industry, a move that will support the country to boost its textile sector. The programme will cover Pakistan’s garments and textile suppliers, helping the country improve the industry like that of Bangladesh and other sig
Oil prices were largely unchanged in early Asian trade on Thursday as traders weighed optimism over China’s demand outlook against the possibility of further interest rate hikes from global central banks. Brent crude futures were up one cent at $82.71 per barrel at 0121 GMT while US crude futures fell four cents to $77.24. The market was bolstered by projections from the International Energy
Remittances sent by overseas Pakistanis declined by 14 per cent in November this year. The inflows fell by 9.6 per cent during the first five months of the current fiscal year (FY23). The latest data released by the State Bank on Wednesday showed that the remittances kept falling and declined to $2.1 billion in November from $2.5bn during the same month last year. The inflows declined by 5pc co