Aisha Steel Mills expects to achieve utilization levels of 85-90% during FY21

ASL posted LPAT of PKR617mn (LPS: PKR0.89) during FY20, as compared to a NPAT of PKR254mn (EPS: PKR0.26) in FY19. The decline in earnings emanated from (i) domestic market contraction led by slowdown in production of automobile and appliances, (ii) higher interest rates, (iii) PKR depreciation against the US$, and (v) Covid-19 induced lockdowns in 4Q.

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Pakistan stocks would continue its positive momentum in the coming week

Pakistan Equities bounced back during the week with the index climbing 620 points as the market participants gained much-needed clarity related to lockdown measures taken by the government to curb the virus. Additionally, although in line with market expectations, the investors welcomed the decision by the State Bank of Pakistan (SBP) to keep the key policy rate unchanged at 7.0% for the next two months.

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WEF – Shahid Hosain Kazi represents FINCA at the country strategy dialogue on Pakistan!

The World Economic Forum (WEF) organized a Country Strategy Dialogue (CSD) on Pakistan. Acting CEO FINCA Micro Finance Bank Pakistan, Mr. Shahid Hosain Kazi, joined a gathering of international and Pakistani business leaders for discussions on a wide range of subjects including economy, finance, investment, trade, manufacturing, digitalization and startups, regional connectivity and CPEC, etc

While expressing his thoughts, Shahid Hosain Kazi said “Financial inclusion is a key enabler to reducing poverty and boosting prosperity especially in the case of the developing world.

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PSX index closed -224pts today

Market opened on a negative note today with -54pts and closed the first session -133pts. Index lost a total of 278pts during the session, however, buying activity in Banks, Cement, Refineries and Technology sector helped the index gain some points. The index closed -224pts (unadjusted).

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Zong 4G’s special offer brings enhanced user experience for northern areas

Keeping in mind the evolving digital communications needs of Zong 4G’s customers in Attock, Kamra, and Hazro, Pakistan’s leading cellular and digital services provider, has brought special new offers for these cities.

Through these exclusive offers, Zong 4G’s customers living in Attock, Kamra, and Hazro can enjoy 75 All Net Minutes, 5000 MB Data, 5000 On-Net Minutes, and 5000 SMSs for the whole week with a recharge of PKR 250 only.

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Careem distributes smog safety kits to Captains amidst Covid-19

As part of its efforts to ensure safety and security for the community, Careem distributed smog kits and safety jackets to the Captains in Karachi, Lahore and Islamabad.

In the last few years, smog has been dubbed as the ‘fifth season’ in Pakistan with every year the statistics record an increase in the level of pollution in the air beating all previous records, in all major cities of Pakistan, with Lahore leading the list.

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