Connect with us

Business

June 2024 saw a 3% decline in Pakistan’s textile exports on a month-over-month basis.

Published

on

July 2023–24 had a 3.09 percent decrease in textile exports from $1,311.650 million in the same month the previous year.

Tents, canvas, and tarpaulin were among the textile products that helped the trade develop. In July 2024, exports of these goods reached $10.877 million, up 14.22% from $9.523 million in the same month the previous year.

In addition, commerce in ready-made clothing increased by 7.57 percent to $295.522 million from $274.730 million, while exports of art, silk, and synthetic textiles increased by 4.12 percent to $27.245 million.

Cotton yarn saw a 42.54 percent fall in exports from $97.031 million to $55.750 million, while cotton cloth saw a 0.56 percent decrease from 140.936 million to 140.148 million. These two textile items were among those with negative growth in trade.

Similarly, the export of yarn that wasn’t cotton fell by 22.35 percent, from 3.292 million to 2.556 million; knitwear fell by 1.88 percent, from $364.541 million to $357.686 million; bed wear fell by 1.20 percent, from $216.910 million to $214.305 million; and towels fell by 3.67 percent, from $72.766 million to $70.093 million.

Made-up article exports (apart from towels and bedding) fell from $48.057 to $51.039 million, a 5.84 percent decline.

From $53.956 million to $48.897 million, the value of exports of all other textile materials fell by 9.38%.

Month over month, the country’s textile exports fell by 10.13 percent in July 2024 compared to $1,414.417 million in June 2024, according to PBS data.

Business

The total amount of Pakistan’s liquid foreign reserves is $15.95 billion.

Published

on

By

As of February 14, Pakistan’s total liquid foreign reserves were $15,947.9 million, with the State Bank of Pakistan’s (SBP) holdings being $11,201.5 million.

Official figures for the week ending February 14, 2025, show that the central bank’s liquid foreign exchange reserves rose by $35 million to $11,201.5 million.

Commercial banks maintained net foreign reserves of $4,746.4 million during the period under review, according to the breakdown of foreign reserves.

The nation’s total liquid foreign reserves as of the week ending February 07, 2025, were $15,862.6 million.

Of these, the central bank held $11,166.6 million in foreign reserves, while commercial banks kept $4,696 million in net reserves.

Continue Reading

Business

In January 2025, RDA inflows reach 9.564 billion USD.

Published

on

By

Remittances under the Roshan Digital Account (RDA) increased from US $9.342 billion at the end of 2024 to US $9.564 billion by the end of January 2025.

The most recent data issued by the State Bank of Pakistan (SBP) revealed that remittance inflows in January totaled US$222 million, compared to US$203 million in December and US$186 million in November 2024.

Millions of Non-Resident Pakistanis (NRPs), including those who own a Non-Resident Pakistan Origin Card (POC), desire to engage in banking, payment, and investing activities in Pakistan using these accounts, which offer cutting-edge banking options.

Nearly 778,697 accounts were registered under the scheme by the end of January 2025, according to the data.

By the end of January, foreign-born Pakistanis had contributed US $59 million to Roshan Equity Investment, US $479 million to Naya Pakistan Certificates, and US $799 to Naya Pakistan Islamic Certificates.

Continue Reading

Business

FBR lowers Karachi’s built-up structure property valuation rates

Published

on

By

A year-by-year breakdown of the depreciation value of residential and commercial built-up properties is included in the updated property valuation rates for Karachi that the FBR has announced.

The notification said that built-up structural values on residential property will be gradually reduced.

A residential home’s built-up structure, which is five to ten years old, will lose five percent of its worth.

In a similar vein, constructions between the ages of 10 and 15 will lose 7.5% of their value, while those between the ages of 15 and 25 would lose 10%. Built-up structures that are more than 25 years old will be valued similarly to an open plot.

Furthermore, age will also be used to lower the valuation of built-up properties, such as apartments and flats.

Structures that are five to ten years old will depreciate by ten percent, while those that are ten to twenty years old will depreciate by twenty percent. A 30% depreciation will be applied to properties that are 20 to 30 years old, while a 50% reduction will be applied to those that are above 30 years old.

In terms of commercial built-up properties, buildings that are 10 to 15 years old will lose 5% of their value, while those that are 15 to 25 years old will lose 8%. The value of properties that are more than 25 years old will drop by 10%.

In contrast, there would be a 15% boost in the value of commercial properties in the Defence Housing Authority (DHA) that face any Khayaban.

Continue Reading

Trending