Schools likely to remain closed till July 31 on July 6, 2018KARACHI: Sindh Education Department has decided to extend the ongoing summer vacations in the province’s schools till July 31 in the wake of the upcoming general elections. Sindh Education Secretary, Alia Shahid, after finalising the summary for extension in summer vacations, will send it to caretaker Chief Minister, Fazlur Rehman for approval. Schools in Sindh […]
US dollar reaches record high of Rs 124.25 in open market on June 21, 2018KARACHI: The United States dollar touched a record-high level of Rs 124.25 for buying in the open market, and Rs 120.25 for buying in the interbank market, on Wednesday. In the open market, the dollar increased by 50 paisas in a day and closed at Rs 124.25 for buying, and Rs 125.45 for selling. Commenting […]
‘Illegal hides export damaging leather industry’ on June 15, 2018KARACHI: The smuggling of live animals and export of basic raw material for leather industry, on mis-declaration, is preventing Pakistani exporters from meeting their export orders on time. According to the Pakistan Tanners Association (PTA) exporters are unable to meet their export orders because of the severe scarcity of raw materials in Pakistan and the […]
Perfume concentrates consumption increases 15% in Jan-April 2018 on June 3, 2018KARACHI: The imports of cosmetic concentrates exceeded to 20 percent while industrial imports rose around 25 percent during January-April 2018 against same period last period, importers and traders said. Because soap and detergents makers continued launching new household products while a number of domestic perfumer makers introduced variety of products in country for all and […]
Industrialists term increase in bps unfriendly on May 27, 2018KARACHI: Industrial and export oriented sectors termed increase in policy rate (basic points system) by 50 bps to 6.5 percent by State Bank of Pakistan (SBP) as business unfriendly attitude on Saturday. The business community was expecting reduction of 100 basis points in policy rate for the period of next two months. The increase in […]
‘US unfair int’l trade practice squeezes potential of cotton growers, exporters’ on May 20, 2018KARACHI: United States’ sensitive subsidies are an unfair international trade practice and squeezes potential of cotton growers and exporters while export potential and cost effectiveness of Pakistan’s traders remained under pressure that almost keep them out of international market. “Around $755 billion are allocated for subsidies for agriculture mostly of the amount for cotton growers […]
Textile and leather export sectors ignored in Budget 2018-19 on May 4, 2018KARACHI: No positive steps were taken in budget 2018-19 for providing incentives to prime export-oriented sectors of textile and leather. Economists expressed their dismay over budget 2018-19 and lamented that no measures have been taken for industrialisation and extension in PM export packages. There is inability to improve growth rate of textile and leather sector […]
Lint prices to stay high despite some depression in coming days on April 25, 2018KARACHI: Cotton prices in the country to face a slight depression but will remain on the higher side due to growing demand of the commodity by textile and spinning sectors. Import of cotton is not viable as its international prices are on parity with prices in Pakistan, Pakistan Cotton Ginners Association (PCGA) senior member Rana […]
‘Financial mangers should remodel socio-economic policies, past performance shows no fruitful results’ on April 20, 2018KARACHI: In order to achieve growth rate around to 8 percent, past practices of financial mangers in the helm of government affairs and rulers should be remodeled as past performance of successive governments did not prove any fruitful results, financial experts and prime export-oriented sector people have opined. The current governance form has failed to […]
‘Textile policy 2014-19 fails to achieve goals’ on April 5, 2018KARACHI: Aimed at doubling value addition from $1 billion per million bales to $2 billion per million bales during five years and double textile exports from $13.1 billion to $26 billion, besides facilitating investment of additional $5 billion in machinery and technology, the textile policy 2014-19 has remained fail to achieve desired targets. This was […]