Magazine Features

Lasbela Chamber urges Government to start work on Hub River Bridge, Hub Bypass, and Sakran Road

An urgent meeting of the Lasbela Chamber of Commerce and Industry was held at the office of the chamber today to review the progress on the restoration of road links between Karachi and Lasbela. Addressing the meeting, Mr. Ismail Suttar, former president and Chairman of the Infra Structure Committee of LCCI stated that the industries and the people are badly suffering due to the devastation of roads and bridges in Balochistan.… Continue

Automobile sales declined to 11.6K units during Aug’22

 Passenger car sales plummeted by 50% YoY | 13% MoM, on the back of i) need for prior permission on import of raw materials by the SBP, which led to lower inventory levels and slashed production, ii) increased auto financing rate due to interest rate hike curbing demand, iii) shrunk purchasing power due to receding incomes amid high inflation, and iv) delay in car deliveries in lieu of massive rainfalls.… Continue

No restrictions on import of raw materials: SBP clarifies

Lately, some media reports and representatives of trade organizations have claimed that banks are not opening Letters of Credit (LCs) for essential raw materials including pharmaceuticals. This is contrary to the facts. It is clarified that there is no restriction on the import of raw material for any industry including export-oriented industry.… Continue

In support of Flood Victims, realme screened the finale of Asia Cup 2022 at UCP Lahore

realme has always maintained its position of being a youth-centric brand. For this reason, the smartphone brand strives to bring engaging events to the Pakistani landscape that cater to youthful interests such as music, technology, and sports. In the month of August, realme brought a unique sporting event for the youth with the realme Mega Azadi Ride and with that promised to bring more sporting events for its fans in the future.… Continue

Careem introduces digital payment visibility for Captains

Careem, the pioneer of ride-hailing service in Pakistan, has recently introduced digital payment visibility for credit/debit card payments to all its Captains across Karachi, Lahore and Islamabad. This initiative will empower them to make a more conscious decision, ultimately providing a seamless experience between Careem’s customers and Captains. … Continue

LEAs failed miserably to control street crimes, maintain peace in Karachi: KCCI

President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Idrees, while expressing deep concerns over rising lawlessness and street crimes in every single area of Karachi, strongly slammed the Law Enforcement Agencies (LEAs) who have failed miserably to control the situation and maintain peace in Karachi where citizens were fearlessly being looted and killed upon slight resistance even in broad daylight and at densely crowded places.… Continue

100 tons tea donated by ekaterra for 1 million flood affected families

As part of the national plan of providing maximum relief to over 33 million flood-affected people across Pakistan, چ has pledged to donate 100 tons of tea to one million families displaced by the devastating floods. The relief assistance will be provided through its partner NGOs, Indus Hospital, The Citizens Foundation Al-Khidmat Foundation, and Roshan Academy, ekaterra said in a press release issued here on Tuesday.… Continue

PNSC earns highest annual profit in FY21-22

Despite the challenging global economic environment, Pakistan National Shipping Corporation (PNSC) Group has achieved highest to date annual net profit after tax amounting to Rs.5,650 million during the year 2021-22 as compared to Rs.2,264 million during the preceding year.

According to results announced today, the earnings per share (EPS) of the PNSC (Group) is Rs.42.75 as against Rs.17.14 in the comparable period last year.… Continue

Daily cargo handling report of Karachi port trust

The Karachi Port Trust handled 90,363 tons of cargo comprising 57,187 Tones of import cargo and 33,176 Tons of export cargo during last 24 Hrs ending at 0700 Hours.

TOTAL IMPORT CARGO:

The total import cargo of 57,187 comprised of 39,132 Tons of Containerized Cargo, 3,687 Tons of Bulk Cargo, 2,194 Tons of Rapessed, 4,500 Tons of Rock Phosphate, 1,838 Tons of Urea, 2,776 Tons of Wheat & 3,060 Tons of Oil & Liquid Cargo.… Continue

High CO2-producing companies to face challenges with new climate-related disclosure requirements

Current corporate reporting by a majority of companies producing the highest levels of greenhouse gas emissions would not comply with proposed new requirements from the International Sustainability Standards Board (ISSB).

This is the key finding of research carried out by ACCA (the Association of Chartered Certified Accountants) and the Adam Smith Business School at Glasgow University, aiming to find out how prepared companies are for new climate-related reporting rules being developed by the International Sustainability Standards Board, formed last November.… Continue

Workers’ remittances continue to grow in August 2022

Workers’ remittances recorded an inflow of US$2.7 billion during August 2022, says State Bank of Pakistan today. 

In terms of growth, remittances increased by 7.9 percent on m/m and by 1.5 percent on y/y basis.

Remittance inflows during August were mainly sourced from Saudi Arabia ($691.8 million), United Arab Emirates ($531.4 million), United Kingdom ($369.7 million) and the United States ($294.4 million).… Continue

Orange Line steps forward to support flood victims in South Punjab

In the spirit of further strengthening brotherly relations between China and Pakistan, a group of 20 employees and volunteers representing the Orange Line Metro Train project stepped forward to distribute life support essentials amongst the flood victims of Jampur, which stands amongst the most devastated cities in the Rajanpur district of South Punjab during the current ongoing floods crisis.… Continue

KATI continues to help floods affectees

President of Korangi Association of Trade and Industry (KATI) Salman Aslam said that the recent rains and floods have caused havoc in Sindh, Baluchistan, millions of people are on the streets, and rehabilitation of the affected people will take more than two to three years, while the agricultural lands in interior Sindh that have been devastated by floods will take a long time to become cultivated again.… Continue

The fourth Pakistan Property Show in Dubai

Huge crowds gathered at the fourth edition of the Pakistan Property Show over the weekend at the World Trade Centre in Dubai to explore major investment opportunities in the Pakistan property market.
A record-breaking 20,000 people attended the two-day event which was organised by Zameen.com,… Continue

A range bound session was witnessed at the PSX today

· A range bound session was witnessed at the PSX today due to mounting inflation, economic and political concerns. No materialization of funds from friendly nations kept sentiments in check. The benchmark KSE-100 index observed a volatile session as investors opted to remain sideways due to continuous fleet of US dollar against Pak rupee.… Continue

PSX market to remain trendless

The Benchmark index started the last week on a negative note and continued within a thin range. During the week, the index posted a high and low of 42,388 and 41,676 respectively and closed at 41,948. Trading volumes clocked-in at 322Mn shares which are lower than the previous week.… Continue

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