Search Results for: Pakistani

Pakistan remains a source of concern to global anti-money laundering (ML) authorities even though the Financial Action Task Force (FATF), the world’s leading AML organisation, removed the country from its monitoring process last February (2015). Then, FATF cited Pakistan as having made “significant progress” in improving its AML and CFT (combating the financing of terrorism) regime.…

It gets exceedingly hot in Riyadh in the summer, with the mercury rarely below 40 degrees Celsius, but that does not deter Moazam Shah from going for his evening run around the residential compound he lives in with his family.

After six years in the Kingdom of Saudi Arabia, Pakistani national Shah has acclimatised to exercising in extreme heat: “It’s a time for myself, to catch up on my thoughts,” he told Accounting & Business at the Ritz-Carlton Hotel in Manama, Bahrain.…

PAKISTAN’S textile sector is struggling as exports are declining, with producers unable to compete with regional countries such as Bangladesh and Vietnam,

Jawed Bilwani, chairman of the Pakistan Apparel Forum has told WTiN.com. In an interview he warned that looking at trade data for financial year 2014-15 compared to 2013-2014: “Our textile exports are declining persistently and are in a state of emergency.”…

SPECIAL trade access to developed countries is always a boon to emerging market suppliers, and the European Union’s (EU) GSP+ system is especially sought after, and – noted a recent European Commission report – widely utilised.

GSP+ suspends EU duties on 66% of EU tariff lines, while for standard GSP, these same duties are merely reduced.…

THE PAKISTAN government has unveiled a new five-year industrial plan aimed at growing the country’s automotive manufacturing sector. The government says it will waive import duties on materials and technology needed to establish new auto plants in Pakistan and also reduce import duties charged on auto parts once these factories are operational.…

Pakistan’s textile producers have welcomed new tax incentives aimed at boosting the industry. Official documents provided to WTiN.com by Pakistan’s ministry of textile industry reveal that Pakistan’s government is planning to create of 3 million new jobs by providing tax incentives to its struggling textile industry.  …

JAPANESE development agencies are working to increase the level of textile imports sourced from Pakistan. The Japan International Cooperation Agency (JICA), based in Yokohama, is presently in discussions with the government of Pakistan about ways in which Japanese overseas development aid might be best put to use to assist this sector – of critical importance to the overall Pakistani economy.…

PAKISTAN’S textile producers will continue to benefit from European Union (EU) preferential tariffs following a European Union’s decision not to suspend Pakistan’s ‘generalised scheme of preferences plus’ (GSP+), status despite concerns about its human rights record.

The scheme has been beneficial to Pakistan’s textile industry – textiles and clothing account for around 75% of Pakistan’s exports to the EU.…

International cotton prices are expected to rise because Pakistan is importing more than five million bales of cotton this season, mostly from India, to compensate for a 34% fall in domestic production year-on-year caused by bad weather and pests. “Due to heavy rains, not only the cotton in the fields was spoiled but the pesticides and fertilizers were also diluted, leading to pink bollworm attack,” Khawaja Tahir, chairman Karachi Cotton Association (KCA), told WTiN.…

Despite a healthy growth in knitwear exports from Pakistan, the industry is concerned about a potentially harsh government budget, which is expected to be approved in June. There are indications the federal Pakistani government intends to hike sales tax rates from 2% to 5% on exports; impose a gas infrastructure development charge on businesses; and withdraw existing special subsidies that have benefited the knitwear sector.…