Business

Pakistan is planning to remove duties on many raw materials used by exporters, reported Bloomberg. This was revealed by Abdul Razak Dawood, commerce and investment adviser to Pakistan’s prime minister in an interview with Bloomberg. This will make them more regionally competitive and help the economy escape a recurring boom-bust cycle. Razzaq told Bloomberg that duties on imported raw materials, which were removed on more than 1,600 products last year, will be further reduced or eliminated in this year’s budget. He’s “very hopeful” the government can continue supplying discounted energy to export-based factories. The report further stated that shipments from the South Asian nation have been sluggish– ranging between $20 billion-$25 billion per year — over the past ten years or so, a time when other developing economies like Vietnam and Bangladesh have seen their export sectors thrive. However, the devaluation and import-duty cuts have improved Pakistan’s competitiveness, with expo..

When it comes to finishing off an encounter in style, very few can match David Wiese’s heroics for Lahore Qalandars in the Pakistan Super League (PSL). David Wiese, the South African all-rounder, perhaps likes to deal only in sixes that is why he has not just once but twice ended a PSL match in such an emphatic manner. In last year’s PSL, the 34-year old led Qalandars’ to a memorable victory over Multan Sultans as he cleared the ropes on the last ball. This time around, Wiese’s winning shot has lightened up the Qalandars chances to progress through the group stages for the first time. Wiese’s Last Ball 6 in PSL 2019 Lahore Qalandars required 3 off the last ball when Multan Sultans’ bowler Dan Christian bowled in the slot and got punished by David Wiese. However, Wiese’s efforts were not enough to send Lahore Qalandars to the playoffs of the PSL 2019. Relive the memorable moment from PSL 2019. Wiese’s Historic 6 in PSL 2020 Lahore Qalandars needed 5 off 2 deliveries during last n..

Infinix has become the first smartphone brand manufacturing in Pakistan. Minister of Economic Affairs, Hammad Azhar on Wednesday met with CEO of Transsion Tecno smartphone assembly plant in Pakistan. The minister highlighted that the company started producing 3 million handsets/annum recently and is taking it up to 13 million within a year with more investment. He further stated that the company will now be focusing on exports as their plant in Pakistan is the most efficient out of all owned by Transsion Group outside of China. Within the next 3 years, they have targeted to localize production of 49% of handset parts, which has huge export potential. For comparison, Vietnam exports $37 billion of handsets annually. Infinix is currently the largest mobile phone production and assembly company in Pakistan. The existing factory produces 3 million units per year. All the local products selling in the country are being manufactured in the factories that are churning out smartphones, table..