Industry Insight

Cement Sales Plummet by 27.54% in August Due to Tax Increases and Monsoon Slowdown The local cement industry experienced a sharp decline in sales in August 2024, with local cement sales plunging by 27.54% year-on-year to 2.752 million tonnes. The decrease was driven by a combination of tax-driven price increases and a slowdown in construction activities during the monsoon season. …

KCCI Calls for Urgent NEPRA Hearing on K-Electric Issues The Karachi Chamber of Commerce and Industry (KCCI) has called on the National Electric Power Regulatory Authority (NEPRA) to urgently convene a hearing with all relevant stakeholders to address pressing issues related to K-Electric (KE) that are significantly impacting both industrial and domestic consumers in Karachi. In a letter addressed to …

Karachi Wholesale Grocers Announce Market Closure in Tax Protest The Karachi Wholesale Grocers Association has announced a complete shutdown of Pakistan’s largest wholesale market on Saturday, August 31, to protest the government’s withholding tax policies. This decision followed an emergency meeting at Jodia Bazaar, where traders, importers, and exporters expressed their dissatisfaction with the tax measures. Consequently, the association’s move …

A New Benchmark in Pakistan’s Renewable Energy K-Electric (KE) has set a new standard in Pakistan’s renewable energy sector with its 150-megawatt solar energy projects in Balochistan, achieving the country’s lowest-ever tariff bid. This milestone marks a significant shift in the nation’s energy generation approach, highlighting the growing trust in private sector-led initiatives, even in challenging economic times. Record-Low Tariff …

Textile and clothing exports from Pakistan contracted by 3.09% in the first month of FY25, reflecting the sector’s struggle to compete with regional rivals amid the implementation of harsh taxation measures. This downturn signals a challenging period ahead for the industry, which is grappling with high energy costs and government policies that have sparked concerns among top textile exporters. Impact …