The Karachi Chamber of Commerce and Industry (KCCI) on Thursday expressed full support for a complete nationwide strike if all chambers unanimously oppose Sections 37A and 37B of the Sales Tax Act, terming them “draconian” and detrimental to the business environment. Speaking at a press conference at KCCI, President Jawed Bilwani said the chamber, along with all seven industrial associations,
Bulls continued their reign over the trading floor at the Pakistan Stock Exchange (PSX) on Wednesday as shares scaled the 130,000-point barrier to reach a new high after climbing by 2,100 points. The benchmark KSE-100 index opened on a positive note, rising by 1,430.07 points (1.12 per cent) to reach 129,629.49 points at 10:07am, from the previous close of 128,199.42 points. Shares then rose
Pakistan’s large-scale manufacturing (LSM) sector continued to face headwinds in first ten months of this fiscal year (July 2024–April 2025), contracting by 1.52 per cent year-on-year, according to the Pakistan Bureau of Statistics (PBS). The decline reflects ongoing challenges in key industries such as food, chemicals, iron and steel. However, textile manufacturing — the largest component of L
The government on Wednesday reduced profit rates on all national savings schemes — except the regular savings account — including Sharia-compliant instruments, in line with a broader easing of interest rates. The savings account remains the only instrument with an unchanged profit rate of 9.5pc. The revised rates follow a decline in cut-off yields on government papers (such as T-bills) and
The Competition Appellate Tribunal has dismissed an appeal filed by Reckitt Benckiser in the Strepsils case due to non-prosecution, as the company’s counsel failed to appear, citing travel abroad — the same reason presented at the previous hearing. The tribunal rejected the adjournment request and noted that a fine of Rs50,000 had earlier been imposed on the counsel for failing to appear. W