During the first 10 months of the current fiscal year, imports of agricultural and other chemicals in Pakistan declined by 5.38% compared to the corresponding period last year. From July to April 2023-24, the value of imported agricultural and other chemicals was $7.084 billion, down from $7.487 billion in the same period last year, according to Pakistan Bureau of Statistics data. Conversely, imports of domestically manufactured fertilizer increased by 13.02%, with over 1.232 million metric tons valued at $611.780 million imported, compared to 796,090 metric tons worth $541.312 million in the same period last year. Insecticide imports decreased by 2.71%,…
Author: Osama Zafar
The crippling burden of high taxes is a serious concern for Pakistan’s growing auto industry. From the manufacturer to the vendor, everyone agrees that the colossal taxation is killing growth, innovation, and localization efforts in the industry and curtailing the potential that this sector has for contributing massively to the national economy. The automobile industry in Pakistan suffers from a plethora of customs and regulatory duties, sales taxes, etc., which jack up the cost of vehicles and make them less competitive and less affordable compared to imported ones. Such high production costs make our locally produced vehicles uncompetitive, muzzling an…