China’s top explosive maker forms joint venture in Pakistan on June 15, 2018KARACHI: As part of a partnership, the Biafo Industries Limited, a local emulsion explosive manufacturer, will make a $2.62 million equity investment in an associated undertaking of the Company Auxin Biafo Chemicals (Private) Limited. Auxin Biafo is a joint venture agreement between the Biafo Industries Limited and Beijing Auxin Chemical Technology Limited, a subsidiary of […]
Pakistan imposes anti-dumping duty on colour steel imports on June 14, 2018KARACHI: The National Tariff Commission (NTC) imposed anti-dumping duty on Chinese and South African origin colour coated steel coils and sheets imports on Wednesday. The NTC imposed definitive anti-dumping duties on the said dumped imports in the range of 5.36 percent to 14.24 percent. An analyst at Elixir Research said this anti-dumping duty can potentially […]
Pakistan imposes anti-dumping duty on colour steel imports from China, South Africa on June 13, 2018KARACHI: The National Tariff Commission (NTC) imposed anti-dumping duty on Chinese and South African origin colour coated steel coils and sheets imports on Wednesday. The NTC imposed definitive anti-dumping duties on the said dumped imports in the range of 5.36 percent to 14.24 percent. An analyst at Elixir Research said this anti-dumping duty can potentially […]
Sojitz Corp enters Pakistan’s auto business with $136.5m investment plan on June 7, 2018KARACHI: Japan based trading company Sojitz Corporation and textile giant of Pakistan Nishat Mills Limited (NML) are all set to launch manufacturing operations of Hyundai vehicles in Pakistan with estimated investment of JPY 15 billion ($136.5 million). Sojitz, on Wednesday, has announced that the company, along with NML has entered the assembly, wholesale, and retail […]
‘New players’ entry to make dent in Pakistan auto cartel’ on June 5, 2018KARACHI: Entry of new auto manufacturers in Pakistan is expected to disrupt industry dynamics where the existing players shall face tougher competition resulting in dwindling pricing power and demand, said analysts. “Pakistan’s passenger cars manufacturing capacity is expected to increase by 77% to 443000 units p/a by FY22 from 250000 units at present as ten […]
Pakistan, Iran enter final phase of free trade agreement on May 30, 2018KARACHI: In the wake of the final phase of free trade agreement (FTA) negotiations with Iran, the Ministry of Commerce has sought a comprehensive analysis of the agreement. At the last meeting, both countries had decided to carry out further deliberations in order to complete all annexes of the FTA agreement by June 2018, which […]
Ghani Gases to setup fourth plant in Pakistan in wake of CPEC on May 22, 2018KARACHI: In order to cater expected higher demand of industrial gases in upcoming China-Pakistan Economic Corridor (CPEC) projects of special economic zones, Ghani Gases Limited has decided to setup fourth plant in Pakistan. According to a bourse filing, the Board of Directors of Gahni Gases has decided to setup fourth new state-of-the-art plant in south […]
Kuwait’s investment firm seeks SBP’s approval to sell its holdings in Meezan Bank on May 17, 2018KARACHI: In a bid to rebalance its investment portfolio, the Noor Financial Investment Company (Noor), a publicly listed company in Kuwait, has sought the State Bank of Pakistan (SBP)’s approval to consummate its divestment of 9.59 percent ordinary shares in Meezan Bank. Earlier, in 2014, Noor had planned to sell its 49.1 percent stake in […]
FBR mulls legal action against sales tax evaders on May 15, 2018KARACHI: In a bid to launch FIRs against unregistered businesses, the Federal Board of Revenue (FBR) is considering to establish Intelligence, Investigation & Prosecution cell in Broadening of Tax Base (BTB) Zone, Daily times learnt on Monday. The FBR has initiated a countrywide crackdown against unregistered manufacturing units to bring these units into the tax […]
PTA to block unregistered mobile devices after June 15, 2018 on May 13, 2018KARACHI: The Pakistan Telecommunication Authority (PTA) has advised all mobile phone consumers, importers and sellers to get non-operational/inactive mobile devices verified before 15th of June 2018 as all unregistered mobile devices will be blocked after the deadline. Mobile phone users in Pakistan must verify authenticity of the mobile device in line with PTA regulations prior […]