The All Pakistan Textile Mills Association (APTMA) shares an ambitious plan to significantly boost the country’s textile exports. According to the shared vision, APTMA aims to achieve a remarkable milestone by increasing yearly textile exports to over $50 billion within the next five years. This strategic initiative comes as the textile sector plays a crucial…
Austrian Ambassador to Pakistan and Afghanistan Andrea Wicke, joined by Hussain Islam, chairman of the Prime Minister’s Task Force in the Strategic Reforms Unit, and Johannes Brunner, commercial counsellor of the Austrian Embassy Commercial Section, visited the Overseas Investors Chamber of Commerce and Industry (OICCI) to engage with the Chamber’s leadership and gain insights into…
The Petroleum Division of the Ministry of Energy is gearing up to host the much-anticipated Petroleum Conference 2024 in the capital city, Islamabad. This strategic initiative is set to bring together industry leaders, experts, and stakeholders to deliberate on crucial aspects of the petroleum sector, fostering discussions on innovation, challenges, and future prospects. Key Aspects:…
In a notable economic development, profit repatriation has witnessed a remarkable upswing, experiencing a substantial surge of 245% during the initial half of the fiscal year 2024. This surge indicates a significant shift in the financial landscape, reflecting increased profits being repatriated by businesses and investors. Key Highlights: Staggering 245% Increase: The standout feature of…
Jubilee Life Insurance, Pakistan’s largest private sector insurance company, signed a memorandum of understanding (MoU) with NOWPDP (Network of Organizations Working for People with Disabilities), Pakistan. This strategic alliance marks a significant step in Jubilee Life’s ongoing commitment to diversity, equity, and inclusivity (DEI) within its workforce. As an equal opportunity employer, Jubilee Life is…
In a collaborative effort to strengthen the fight against tax evasion, the Federal Board of Revenue (FBR) and the Financial Monitoring Unit (FMU) have joined forces. This strategic partnership aims to enhance financial oversight and address illicit financial activities that may contribute to tax evasion. The collaboration between the FBR and the FMU signifies a…
In a significant development, the Lahore High Court (LHC) orders directives to the Federal Board of Revenue (FBR) to amend the Sales Tax Act. The court’s ruling emphasizes the need for amendments aimed at safeguarding the rights of taxpayers within the framework of sales tax regulations. The LHC’s decision comes as a response to petitions…
As the upcoming Monetary Policy Committee (MPC) meeting draws near, financial experts express their expectations of a maintained stability in the policy rate. The consensus among analysts suggests that the State Bank of Pakistan (SBP) is likely to keep the policy rate unchanged in its ongoing efforts to balance economic growth and inflation control. The…
In a call for a comprehensive and sustainable energy shift, experts are urging the government to chart a clear path towards the widespread adoption of renewable energy. The push for a holistic transition comes as the world increasingly recognizes the importance of sustainable energy sources to combat climate change and ensure long-term environmental viability. The…
In a noteworthy development for Pakistan’s economic landscape, the State Bank of Pakistan (SBP) witnesses a substantial increase in reserves, amounting to $243 million. This surge in reserves is attributed to the recent disbursement of a tranche from the International Monetary Fund (IMF), marking a positive stride in the country’s financial stability. The injection of…
