Block cheap Chinese auto imports, say US makers | The Express Tribune

WASHINGTON: The US government should block the import of low-cost Chinese autos and parts from Mexico, a US manufacturing advocacy group said on Friday, warning they could threaten the viability of American car companies. “The introduction of cheap Chinese autos – which are so inexpensive because they are backed with the power and funding of […]

Energy imports drop 13% to $1.42 billion in Nov | The Express Tribune

KARACHI: Pakistan experienced a 13% decline in overall energy imports, reaching $1.42 billion in November 2023, shedding light on subdued demand for petroleum, oil, and gas products. Economic activities remained lacklustre due to sluggish growth, and the recent surge in product prices has hampered purchasing power across various sectors. The diminishing demand for products, particularly […]

Pakistan’s trade deficit narrows by 33.5%, imports down by 17.3%

A representational image of shipping containers at a dockyard. — AFP/File Recent data released by the Pakistan Bureau of Statistics (PBS) has shown that the country’s trade deficit has witnessed a whopping 33.59% with a notable 17.3% decrease in imports as the country struggles to improve the economic indicators amid depreciating local currency and depleting […]

$8b discrepancy unearthed in exports, imports | The Express Tribune

KARACHI: Pakistani traders have allegedly been found involved in discrepancies of over $8 billion through under-invoicing of imports and exports of goods to four major trading partners, causing significant foreign exchange losses, tax revenue losses and supporting financial transactions via the illegal Hawala-Hundi network. In letters to Finance Minister Shamshad Akhtar, the Pakistan Business Council […]

Russian crude imports face constraints | The Express Tribune

KARACHI: Pakistan is unlikely to meet a target for Russian crude to make up two-thirds of its oil imports, despite attractive prices, hampered by a shortage of foreign currency and limitations at its refineries and ports, officials and analysts say. The cash-strapped nation became Russia’s latest customer snapping up discounted crude that has been banned […]

Govt allows imports for EPZs | The Express Tribune

ISLAMABAD: In a strategic move to expedite the development of Export Processing Zones (EPZs) and achieve ambitious export targets, the Pakistani government has taken a momentous step by allowing the import of construction material from tariff areas into EPZs in the northern region and all future EPZs. The new policy will enable transactions to be […]

China’s Russian oil imports rise in April | The Express Tribune

SINGAPORE/BEIJING: China’s crude oil imports from Russia rose 8.6% in April from a year earlier, as larger private refiners also embarked on purchases of the discounted fuel. Arrivals from Russia, including seaborne shipments and supplies via pipelines totalled 7.1 million tonnes or 1.73 million barrels per day (bpd), according to customs data released on Saturday. […]

Panic over blocked imports in crisis-stricken Pakistan

A security personnel stands guard beside a ship carrying containers on Gwadar port. AFP/File  Pakistan business chiefs are clamouring for the cash-strapped government to allow manufacturing materials stuck at the key port of Karachi into the country, warning that a failure to lift a ban on imports will leave millions jobless. Faced with critically low […]

Ban on imports to render millions jobless: business leaders | The Express Tribune

Business leaders are clamouring for the cash-strapped government to allow manufacturing materials stuck at the key port of Karachi into the country, warning that a failure to lift a ban on imports will leave millions jobless. Faced with critically low US-dollar reserves, the government has banned all but essential food and medicine imports until a […]

SBP directs banks to facilitate the release of imports | The Express Tribune

KARACHI: The State Bank of Pakistan (SBP) on Monday announced a one-time facility for import-driven businesses in crisis, as it directed commercial banks to process import documents to release the majority of goods stuck up at Karachi ports. The directives are expected to gradually ease the crisis of imported raw materials across the industries and […]

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