Pakistan fertilizer sales are likely at 724k tons in Jun-2022, up 5% YoY
Pakistan’s urea sales in Jun-2022 expected to clock in at 724k tons, up 5% YoY. The same is also likely to be up 74% MoM due to seasonal impact. Urea sales in 1H2022 are expected to clock in at 3,234k tons compared to 2,899k tons in 1H2021, up 12% YoY due to strong Urea demand amid a higher gap between Urea and DAP.… Continue
Government should reconsider & withdraw super tax: SM Muneer
Patron-in-Chief of Korangi Association of Trade and Industry (KATI) SM Muneer and President Salman Aslam have demanded the withdrawal of a 10 percent super tax on 13 sectors by the government. They said that with this government move, economic activities are declining with each passing day.… Continue
FrieslandCampina Pakistan wins regional corporate citizenship award for sustainability
FrieslandCampina Pakistan was awarded the Gold Standard Award 2022 for Corporate Citizenship (CSR and Sustainability) by the Public Relations & Communications Association Asia Pacific (PRCA APAC) at a ceremony in Singapore.
Recognised for its Dairy Development Program – an initiative designed to increase inclusion, profitability and quality for the dairy farmers of Pakistan and transform the dairy sector – the company competed in the prized CSR & Sustainability category against prominent names from the AsiaPacific region, including HP, Nestle, Novartis and Edelman.… Continue
Pakistan-Afghanistan future belongs with each other: PAJCCI
PAJCCI held stakeholders meeting at Chamma Border Crossing, the most active trading border in Baluchistan and famous across the country for the supply of grapes, apricots, plums, peaches, melons, apples and other fruits. The meeting was arranged at Chaman Center and attended by a large number of business community members of both sides, Government officials consisting of Abid Hussain; Director Transit Trade, Col.… Continue
Karachi is experiencing the worst load shedding in history: Consumer Association of Pakistan
Karachi has faced the worst load shedding in history. People do not sleep well at night, but there is even a long shutdown during the day. Despite this, NEPRA has approved increasing the electricity price by Rs. 9.42 paise. NEPRA was set up to protect the rights of consumers, but now this authority is working entirely in the interest of the power companies; an example is the decision to be made without hearing from the consumers.… Continue
Policy Rate likely to increase by 100bps on July 07
The monetary policy committee of SBP will convene on Thursday (July 07, 2022) to announce the first scheduled monetary policy of FY23. We expect SBP to increase the policy rate by 100bps to 14.75% in the upcoming monetary policy.
To recall, in the monetary policy meeting held in May’22, the State Bank of Pakistan (SBP) increased the benchmark policy rate by 150bps to 13.75% (highest since Jun’11 – 14%).… Continue
The second iteration of the Make Space Hackathon in Karachi
The Make Space Hackathon is a virtual competition aimed at empowering change-makers to create tech-enabled solutions addressing Pakistan’s pressing population crisis. With over 600 applications from across the country, the enthusiasm and drive to develop innovative solutions were palpable before the competition kicked off.… Continue
The market observed a negative session today as Pak Rupee depreciated against USD
· The market observed a negative session today as Pak Rupee depreciated against USD. Investor’s participation stayed lackluster over concerns of resumption of IMF program. Volumes remained dry in the main board whereas decent volumes were witnessed in the 3rd tier stocks.… Continue
Easypaisa and Bank of Khyber partner for KPK’s Insaf Food Programme
Easypaisa, Pakistan’s leading digital payments app, has partnered with the Bank of Khyber to ensure seamless distribution of funds to beneficiaries in KPK under the Insaf Food Programme.
Through the strategic partnership, beneficiaries of the programme will be able to receive PKR 2100 every month in their Easypaisa mobile wallet or collect cash from any Easypaisa agent to meet their essential food related needs.… Continue
Cement dispatches declined by 7.91 percent during fiscal year 2021~22
All Pakistan Cement Manufacturers Association (APCMA) released twelve months of local and overseas dispatch data today. During the fiscal year July 21 – June 22, total cement dispatches (domestic and exports) were 52.89 million tons which are 7.91 percent lower than 57.43 million tons dispatched during the last fiscal year.… Continue
KCCI appeals for immediate release of containers and waiver of demurrages
Karachi Chamber of Commerce and Industry (KCCI) has strongly denounced the non-clearance of containers at the ports subsequent to the ban imposed on luxury items. The ban was imposed on 85 categories of luxury items vide SRO 598 (i)/2022 which was issued on May 19, 2022.… Continue
Jazz launches “GameNow Esports Platform”
Jazz, Pakistan’s number one 4G operator and the largest internet and mobile broadband provider, has launched its Esports platform GAMENOW ESPORTS with registrations now open for proleague season 1. The league features six popular games: PUBG Mobile, FreeFire, DOTA 2, Valorant, Call of Duty 4 and Asphalt 9 with cash prizes ranging from PKR 500,000 to 1,000,000.… Continue
Silkbank and TPL Insurance – Launch of all in one current account
As part of providing tailored solutions and unique value added features for our customers, Silkbank has launched All-in-One Current Account offering 
complimentary insurance coverages in collaboration with TPL Insurance as an insurance solution provider.
To mark the occasion, an MoU signing ceremony was held at the Silkbank Head Office, Karachi on 29th June 2022.… Continue
Meta’s educational ‘Chai Chats’ series is set to foster digital literacy in Pakistan
Meta, in collaboration with the Pakistan Telecommunication Authority (PTA), has launched an educational series, ‘Chai Chats’ to create awareness among young Pakistani Facebook users on digital literacy and social cohesion through improved digital experiences. The series features a close-knit group of university friends encountering difficult online situations which they overcome with grace, friendship, and humour to inspire and persuade youth to adopt a positive and responsible online behaviour.… Continue
Developed countries have pushed the world into an economic crisis: Mian Zahid Hussain
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Monday said the whole world had been pushed into an economic crisis by the developed countries in an attempt to punish Russia.… Continue
NdcTech joins hands with CaterpillHERs to empower Women in Pakistan
NdcTech, Pakistan’s leading IT & Consulting company, has joined hands with CaterpillHERs to provide remote based education to female freelancers looking to kickstart their career from scratch.
Under this CSR initiative, the selected women who are seeking to head start their career or business will be placed in a 12-week acceleration cohort.… Continue
BankIslami proudly sponsors Bahria’s BSPC Talks ‘Voice of Youth’
BankIslami, Pakistan’s leading Islamic financial institution, served as the title sponsor for Bahria Society of Professional Communication (BSPC) Talks, a platform where captivating stories and ideas are exchanged that have the potential to transform the listeners’ lives. BSPC is a student-run society at Bahria University that focuses on the development of communication skills among its members by organizing various workshops and seminars.… Continue
The market stayed under pressure throughout the day due to concerns over mounting
· The market stayed under pressure throughout the day due to concerns over mounting inflation and expected rate hike in the upcoming monetary policy. The benchmark KSE-100 index opened in the green zone but soon witnessed profit-taking. Volumes remained dry in the main board although decent volumes were witnessed in the 3rd tier stocks.… Continue
THF & SBTE sign MoU to create a skilled Pakistan
The Hunar Foundation (THF), Pakistan’s largest Not-For-Profit Organization in private TVET sector, and Sindh Board of Technical Education (SBTE) recently signed a Memorandum of Understanding at the THF Korangi Corporate Office.
While The Hunar Foundation (THF) prioritizes opportunities for underprivileged and marginalized segments of the society to train and equip them with in-demand and employable skills, the SBTE’s vision is to provide a certified skilled workforce for the economic development of Sindh province and the country by providing quality assessment and well-recognized certification and facilitate competency-based training as per employer/industry needs.… Continue
Pak-Qatar General Takaful signs MoU with Auto One Motors.
Pak-Qatar General Takaful signed MoU with Auto One – The largest Automotive marketplace for car buyers and sellers in Pakistan. They deal with numerous certified second-hand and used, cars from large numbers of dealers and private sellers.
After a signing ceremony was held in Karachi.… Continue
Pakistan oil marketing sees a growth of 16% YoY in FY22
Pakistan oil sales declined by 11% MoM to 1.9mn in June 2022, mainly driven by ~14% MoM dipped in MOGAS and HSD sales. This was due to a sharp increase in MOGAS and HSD prices by 31% & 51% in June 2022, respectively.… Continue
Trade Associations demand govt to ensure affordable electricity in Karachi
The representatives of eight trade and industrialists’ associations hold a joint press conference at Karachi Press Club urging the government for its immediate intervention in ensuring affordable electricity to industries in Karachi for saving businesses, export productions, and livelihoods of millions of people.… Continue
U.S. Mission Pakistan celebrates future of women in energy scholar’s pilot program
U.S. Agency for International Development Mission Director Reed Aeschliman presided over a graduation ceremony for 17 female Pakistani university students who successfully completed the U.S.-Pakistan Women’s Council (USPWC) Future of Women in Energy Scholar’s pilot program. The graduation ceremony took place at the U.S.… Continue
PSX market Review for the week
The outgoing week witnessed lackluster activity in the KSE-100 index primarily due to prolonged uncertainty on the resumption of IMF program, high twin deficits, runaway inflation and rising political noise. Despite tough measures being taken by the govt. in the form of reversal of energy subsidies and major taxation changes in the budget, several steps were still needed to be taken to convince the IMF and get the program back on track.… Continue
KE announces revised load shedding timings
In light of the ongoing power supply constraints, K-Electric announced a rationalized load shed schedule for its customers. The revised plan is effective July 1, 2022. This step is being taken to provide relief to customers experiencing night-time loadshed in high-loss areas.… Continue