NKATI industrialists hold rally to show solidarity with Pak Army

Moiz Khan, President North Karachi Association of Trade & Industry (NKATI) led a rally to express solidarity with the Pakistani armed forces and institutions. NKATI’s Senior Vice President Shabbir Ismail, Vice President Naeem Haider, Deputy Chief CMC Syed Yasir Ali, Assistant Chief CMC Shahzad Elahi, Farooq Khatora, and a large number of industrialists participated in the rally.… Continue

Procter & Gamble announced new commitments to advancing Equality & Inclusion.

Procter & Gamble (NYSE: PG) announced new commitments to advancing Equality & Inclusion (E&I) at its third annual #WeSeeEqual summit in Karachi. The event saw participation from influential personalities and industry leaders, including; Alla Kamins, Foreign Service Officer, U.S. Department of State, Sidra Iqbal, Award-winning broadcast journalist and a youth icon, Andrew Bailey, Managing Director, BASF Pakistan, Dr.… Continue

Pakistan inching towards political stability and economic fundamentals improving.

On Sunday, former President of the Islamabad Chamber of Commerce and Industry (ICCI), Dr Shahid Rasheed Butt, said that Pakistan is inching back to normal as the political crisis that has engulfed the country for years is subsiding. “Political stability will result in economic stability, which will not only improve the image and economy of the country but also advance the quality of life of people,” he said.… Continue

Tax policies encourage businesses to join the informal sector.

On Sunday, former Vice President of FPCCI Atif Ikram Sheikh said the tax-to-GDP ratio is below 10 percent in Pakistan, which is below the level required for any proper economic growth. He said there have been no serious efforts to expand the tax base and tax machinery relief on increasing collection through indirect taxes and burdening taxpayers, which has never worked.… Continue

Abu Dhabi & Gulf Countries committed $500 million in investment, Federal Minister of Maritime Affairs, Faisal Sabzwari.

Federal Minister for Maritime Affairs, Faisal Sabzwari, announced that a contract worth $500 million is being negotiated with gulf countries, including Abu Dhabi. The intergovernmental agreement policy has been formulated and will be submitted to the Law Ministry on Monday. If approved, it will pave the way for direct foreign investment as per the conditions set by the International Monetary Fund (IMF).… Continue

TEXPO 2023 attracted a large number of buyers

The 4th edition of TEXPO Pakistan 2023, a flagship event of the Trade Development Authority of Pakistan (TDAP) and Ministry of Commerce & Textile was inaugurated by Mr Shahbaz Sharif, the Honorable Prime Minister of Pakistan, accompanied by Mr Kamran Khan Tessori, Governor of Sindh, Syed Murad Ali Shah, Chief Minister Sindh, Mr Naveed Qamar, Federal Minister for Commerce, Mr Ahsan Iqbal Chaudhary, Minister for Planning, Ms Marriyum Aurangzeb, Federal Minister for Information and Broadcasting, Mr Tariq Bajwa, SAPM, Dr Aisha Ghaus, Minister of State for Finance, at Expo Center (Karachi).… Continue

Investment in the IT sector reaches up to $373 million, Amin-ul-Haq.

Aminul Haq, the Federal Minister for Information Technology and Communication, stated that an agreement has been made with Google for 45,000 scholarships, which will increase to 450,000 next year. The upcoming scholarships will include a 40/percent allocation for women. Previously, Google had provided only 15,000 scholarships last year, but the ministry interfered to increase the number through consultations.… Continue

PSX outlook for next week

Any further development on IMF front along with receiving Chinese rollover of USD$2.3bn is likely to reduce pressure on external front with reserves standing at USD$4.19bn. However, the delays in IMF front and high external financing requirements of around ~USD$28bn will likely lead to further PkR depreciation.… Continue

FPCCI welcomes the inauguration of Pak – Russia direct shipping service

Mr Suleman Chawla, Acting President FPCCI, has welcomed the inauguration of Pakistan – Russia shipping & cargo service; and pinned his hopes that trade with Russia will usher the country into a new era where considerable pressure will be reduced from Pak Rupee and its parity vis-à-vis dollar; balance of payments can see some stability after the trade volumes are increased on a sustained basis as the commercial transactional procedures and other teething problems are sorted out.… Continue

Zong 4G’s International Roaming offer for pilgrims travelling to Saudi Arabia

Zong 4G, Pakistan’s leading telecommunications company, has launched its Saudi Arabia Roaming Offer to facilitate pilgrims travelling to Saudi Arabia. This offer enables travellers to stay connected with their loved ones back home while travelling anywhere in Saudi Arabia.

Zong 4G has introduced this offer with the intent that customers stay connected with their friends and family throughout their stay in Saudi Arabia, whether for pilgrimage or for business.… Continue

The political turmoil destroying Pakistan’s economy

On Friday, a former president of the Islamabad Chamber of Commerce and Industry (ICCI), Dr Shahid Rasheed Butt, said the political upheaval and other factors had destroyed the country’s economy. HE SAID THAT the IMF’s program is on hold, foreign exchange reserves are at around $4 billion, and Pakistan is due to pay $3.7 billion next month, with the risk of default looming.… Continue

Alibaba.com joins forces with TEXPO 2023 to foster the growth of local E-commerce Textile Businesses.

Global business-to-business (B2B) e-commerce platform Alibaba.com today announced that it would participate in the 4th International Textile Exhibition (TEXPO 2023) to be hosted by the Trade Development Authority of Pakistan (TDAP) from 26-28 May 2023 to connect Pakistani textile exporters with its community of more than 40 million buyers worldwide.… Continue

Business community pinning high hopes on 5th China-Pakistan-Afghanistan Trilateral Foreign Ministers’ Dialogue

Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said the business community is pinning high hopes on the 5th China-Pakistan-Afghanistan Trilateral Foreign Ministers’ Dialogue held in Islamabad recently.… Continue

KCCI’s assistance sought in dealing with unjust demands for CVT retrospectively

Members of a delegation from Automotive Traders & Importers Association (ATIA) led by President ATIA Ch. Amir Ali Khan expressed deep concerns over Excise & Taxation (E&T) Department’s unjust demand for Capital Value Tax (CVT) imposed on transfer of vehicles which, although became effective from July 1, 2022 but was not applied immediately by the E&T Department and now, after a lapse of 10 months, the department was demanding CVT retrospectively which was technically not possible.… Continue

Annus Abrar opens his new flagship atelier in Karachi

Pakistan’s much-loved fashion designer Annus Abrar opened the doors to his all-new artistic atelier in Karachi in a star-studded launch event on the evening just in time for this festive season.

The brand-new Annus Abrar atelier Showcases the label’s most sought-after collections, semi-formals and prêt-à-porter, and the designer’s signature bridals.… Continue