Significant investments to expand and improve the efficiency of domestic PVC production have created an opportunity for Pakistan to earn USD 300 million through the export of surplus volumes and products.
Pakistan’s per capita PVC consumption currently stands at 1.2 kg versus a global average of 6.1 kg.… Continue
The central leader of the Businessmen Forum (BMF) and former vice president of FPCCI, Captain Abdul Rashid Abaro, has said that the government must consult the leadership of Pakistan’s business community and senior business leaders before announcing the federal budget. In order to stabilize the struggling economy, the government should end its excess expenditure before the announcement of the federal budget, and those schemes which are facing problems at the start should be postponed for the time being while the loss-making institutions should be privatized immediately so that the country’s financial crisis is over.… Continue
Pakistan Single Window has launched a new service to facilitate the import and clearance of pesticides in Pakistan. As part of the service PSW has also deployed the unified registration system enabling electronic registration of pesticide products and premises with the Department for Plant Protection.… Continue
Pakistan’s Information Technology (IT) exports for April 2023 declined by 15% MoM. Segment wise Telecom and Computer Services declined by 36% and 9% MoM respectively. Among Computer Services, Other Services decreased by 14% MoM and Software Consultancy and Software Exports also decreased by 3% and 8% MoM respectively.… Continue
Ismail Suttar, Chairman Salt Manufacturers Association of Pakistan (SMAP), has urged the government to speed up efforts to get pink salt registered as a Geographical Indication (GI) tag product through Intellectual Property Organizations like Basmati rice. He termed minerals as a chemical value addition to the future of Pakistan, stating that instead of traditional items, we have to focus on other export sectors to boost exports.… Continue
Collector of FBR Collectorate of Customs Export Shafiq Ahmed Latki said that the government had introduced an export facilitation scheme for the convenience of exporters. The scheme will promote exports under a modern digital automation system. He expressed these views during his visit to the Korangi Association of Trade and Industry (KATI).… Continue
Dr. Hanif Mughal, Senior Vice President of Pakistan Economy Watch (PEW), on Thursday, said the powerful sugar mafia is depriving poor masses of billions of rupees by constantly increasing the commodity’s price. Inflation is increasing due to the increase in the price of sugar, and if the indiscriminate export and smuggling of sugar is not stopped, its price will reach two hundred rupees per kg, he said.… Continue
§ Pakistan’s Information Technology (IT) exports for March 2023 recovered by 14% MoM due to a 51% MoM increase in Telecom and 8% MoM in Computer Services.
§ Among Computer Services, Other Services increased by 11% MoM and Software Consultancy by 10% MoM, Computer Software remained flat.… Continue
Pakistan’s Information Technology (IT) exports for January 2023 decreased by 23% MoM due to a 20% and 35% MoM decline in Computer and Telecom Services, respectively.
Among Computer Services, the Export of Computer Software and Software Consultancy decreased by 25% and 15% MoM, respectively.… Continue
Iran’s Consul General Hasan Noorain has said that the volume of bilateral trade has reached 2 billion US dollars in the last 10 months, while the target has been set at 5 billion US dollars. However, due to the absence of a banking channel, trade is facing difficulty.… Continue
On Saturday, the former Vice President of FPCCI, Atif Ikram Sheikh, expressed grave concern over the export fall, which is not a good sign for the troubled economy. He said that political instability and economic slowdown pulled exports down 15.4 percent to 2.2 billion in January 2023 against $2.61 billion in the same month last year.… Continue
PAJCCI held stakeholders meeting at Chaman Border; most active trading border in Baluchistan. The meeting was attended by large number of business community members of both sides, Government officials consisting of Shah Faisal, Additional Collector Customs. Akmal Durrani, Deputy Director, Directorate of Transit Trade Quetta, Col.… Continue
“The IT sector in Pakistan has shown consistent growth over the last few years, giving us a glimpse of its potential. Support from the government and the academia towards improving ease of doing business, tax concessions, promoting research and development, and producing skilled human resources can do wonders for Pakistan,” said Umair Azam, Founder and CEO, Integration Xperts.… Continue
Pakistan’s Information Technology (IT) exports for December 2022 increased by 6% MoM due to a 13% MoM increase in Computer Services. Among Computer Services, Software Consultancy and Export of Software increased by 14% and 28% MoM respectively.
IT export number, however, declined 2% YoY to US$246mn due to 3% YoY decline in Computer services.… Continue
Head of Vietnam Trade Mission Ms. Nguyen Thi Diep Ha has said that Pakistan and Vietnam have been maintaining good business and trade relations as the trade volume, which stood at US$54 million in 2005, improved to $794 million in 2021 and it will very soon cross the level of US$1 billion despite the fact that both countries were hit hard by unprecedented COVID-19 pandemic.… Continue
Information Technology (IT) exports of Pakistan for October 2022 increased by 13% YoY to US$221mn due to an increase of 38%/8% YoY in Telecom/Computer services.
Export number also recovered by 7% MoM from September 2022 mainly due to a 42% MoM increase in Telecom Services.… Continue
Mr. Irfan Iqbal Sheikh, President FPCCI, has called for immediate policy interventions and resolution of anomalies pertaining to tea imports. He has explained that tea should be considered a necessity &a basic food item for everyone – and, not a luxury; as is the case as per current practice at the import stage.… Continue
We re-iterate our ‘Buy’ stance on Systems Limited (SYS), one of the largest IT (Information Technology) service exporters in Pakistan with Dec-2023 Target Price of Rs620/share, offering a potential total return of 39% (including dividend yield of 2%).
SYS is a preferred pick due to (i) above average exports growth, (ii) geographical diversification and expansion, (iii) expanding workforce, (iv) cost effective IT resources of Pakistan, (v) foreign currency (FX) based revenues and cost localization, and (vi) recent acquisitions providing inorganic growth.… Continue
PAJCCI appreciates the priority response of DG Transit Trade Pakistan Customs and the Ministry of Commerce on approving the amendment in Cross Stuffing SRO to allow the transfer of goods from one container to another container or any other mode of transportation, in the premises of the port or at the off-dock terminal.… Continue
The Leadership of Karachi Chamber of Commerce & Industry (KCCI), while highly appreciating the government’s decision to provide subsidized electricity at Rs19.99 per unit to five zero-rated export-oriented industries, said that the business & industrial community was very grateful to Finance Minister Ishaq Dar, Commerce Minister Naveed Qamar and Energy Minister Khurram Dastgir Khan for considering exporters’ request to continue Regionally Competitive Energy Tariff (RCET) which would be a great help in enhancing the exports particularly in a situation when recession has already begun in the European Union while the United States was also heading towards the same which are the two major markets for Pakistan’s textile exports.… Continue