Search Results for: Pakistan

VIETNAM clothing industry insiders have told just-style that they are optimistic that the Vietnamese apparel supply chain will emerge strengthened from the Covid-19 crisis in 2021. This is despite an ongoing shortage of orders during 2020, only partly mitigated by switching production to make masks.…

PAKISTAN’S clothing and textile sector has called on the country’s government to offer vigorous help to help the industry emerge from the Covid-19 pandemic, which it says has inflicted punishing harm on manufacturers. The All Pakistan Textile Mills Association (APTMA) and the Pakistan Readymade Garments Exporters & Manufacturers Association (PRGMEA) are united in pressing for government action.…

PAKISTAN’S paint and coatings sector is understandably suffering from Covid-19, which has hit the country hard with 276,288 cases and 5,892 deaths as of July 28. But the industry has been expanding and its executives hope for a sustained recovery once the pandemic has abated, ending the current series of rolling smart lockdowns targeting infection hotspots.…

THE UNITED Nations’ Food & Agriculture Organisation (FAO) has proposed creating a permanent ‘observatory’ monitoring cocoa markets, assessing value and costs, to help chocolate sales revenues be more equitably distributed throughout supply chains.

In a report called a ‘Comparative study on the distribution of value in European chocolate chains’, the FAO said such “objectified and cross-checked data” would aid “a multi-stakeholder discussion” at national and global levels on revenue sharing.…

THE FINANCIAL Action Task Force (FATF) has confirmed high risk AML/CFT jurisdictions on its grey and black-lists have another two months to sort out their AML/CFT weaknesses because of COVID-19 – consideration of further blacklisting and additional measures will be postponed until that deadline.…

EUROPEAN sugar users’ association CIUS has warned about slow progress within the talks between the European Union (EU) and the UK over a permanent relationship after the current transitional Brexit period expires on December 31. The CIUS wants this period extended – a step that the British government is currently refusing to take.…

Kabeer Naqvi, CEO of U Microfinance Bank Ltd, one of Pakistan’s fastest growing businesses, is clearly a man in a hurry. His bank – branded U Bank – is digitising quickly as it grows its deposits and its important lending business, that is pulling many thousands of Pakistanis out of poverty and into lives of sustainably growing income.…

PAKISTAN’S textile sector is in dire need of additional investment for modernisation and innovation in order to keep pace with its main regional competitors, industry insiders have warned.

They claim investment has been slashed in the past five years and the industry has been hit with high import tariffs on raw materials meaning programmes to upgrade machinery and other innovation projects have only continued at a sluggish rate.…

THE FINANCIAL Action Task Force (FATF) has said that Iran’s failure to implement AML/CFT controls means that member countries and their financial institutions should consider taking all the precautions mandated by its guidance for high risk ML states.

Its February 19-21 plenary said that Iran still needed to remove an exemption for controls on designated terror groups’ financing when such organisations are “attempting to end foreign occupation, colonialism and racism” – which is taken to include groups opposing Israel.…

Millions of documents leaked from UK-based corporate services firm, Formations House, have revealed the ultimate beneficial owners of some 400,000 secret offshore companies as well as the alleged criminal activities of some. The firm operates from a front office located at 29 Harley Street, in central London, with back office support reportedly coming from Pakistan.…