Edible oil industry advocates tax reform | The Express Tribune

The government should contemplate imposing a 20-22% sales tax and a 5% income tax on commercial importers to discourage them, said KK Group of Industries CEO Khalid Islam Sheikh. Photo: file KARACHI: Edible oil manufacturers have called for reducing the duty on Crude Palm Oil (CPO), abolishing section 8B of the Sales Tax Act, and […]

Pakistan’s mobile industry produces 84.4m devices defying economic woes

A representational image of a mobile shop in Pakistan. — AFP/File  Despite worrying economic indicators and financial woes that have gripped Pakistan, the country’s mobile industry has managed to defy the odds stacked against it by producing an impressive 84.4 million mobile devices between January 2019 and September 2023.  The revelation, made in a Pakistan Telecommunication […]

Delicious mystery around $2b peanut butter industry craze in America

Representational image of peanut butter from Unsplash.  Ever wondered why Americans can’t get enough of peanut butter?  The creamy or crunchy debate only scratches the surface of a delicious mystery fueling a $2 billion industry in the United States.  Let’s dig into the spreadable sensation that has become a favourite snack across the nation. Do […]

PEOC explores industry resilience | The Express Tribune

KARACHI: National and international speakers have highlighted that consumer countries, such as Pakistan, grapple with significant economic challenges, including high inflation, currency volatility, and geopolitical tensions in the Black Sea and the Middle East. These observations surfaced during the “6th Pakistan Edible Oil Conference (PEOC)” held at a local hotel on Saturday. Discussing market dynamics, […]

What does Google’s mass layoffs mean for tech industry?

The Google logo displayed on a smartphone screen. — AFP/File Google fired hundreds of workers from its engineering, hardware, and voice assistance divisions as part of cost-cutting efforts. According to a statement from the firm, Google is making these reductions in order to “responsibly invest in our company’s biggest priorities and the significant opportunities ahead,” […]

Auto industry eyes 2024 recovery | The Express Tribune

KARACHI: In 2023, the auto industry in Pakistan weathered a storm of economic and political challenges, leaving an indelible mark on both industry players and consumer sentiments. The Express Tribune delved into the intricate tapestry of this tumultuous year, marked by price fluctuations, repeated plant closures, and the ebb and flow of local and imported […]

Textile industry unveils $50b export plan | The Express Tribune

ISLAMABAD: The textile industry has submitted an ambitious plan to the government for achieving a $50 billion export target as it comes up with a set of recommendations for removing barriers and providing incentives to extend the outreach in international markets. The industry has proposed the setting up of 1,000 garment plants on a fast […]

Troubled LSM industry records modest growth | The Express Tribune

ISLAMABAD: The output of big industries marginally increased by less than 1% during the first quarter of this fiscal year, as the industrial sector continuously suffered from high-interest rates and overall unfavourable business conditions. The Pakistan Bureau of Statistics (PBS) on Wednesday released figures for Large-Scale Manufacturing (LSM) industries that also showed that the upward […]

Power industry calls for release of vital reports | The Express Tribune

ISLAMABAD: Frustration is growing among power industry stakeholders due to significant delays in the release of crucial reports by the power regulator, which are essential for informed decision-making. In particular, the absence of timely data is hindering the effective functioning of the sector. The World Bank’s “Public Expenditure Review” report has emphasised the urgent need […]

Economic woes leave textile industry in tatters | The Express Tribune

Factory worker Lubna Babar was made redundant at the beginning of the year, a victim of a crisis in the Pakistan textile industry that has seen it lose ground to more nimble Asian competitors. “When you lose your job, your life comes to a close,” the 43-year-old from Lahore told AFP. “We’ve been working in […]

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