Voluntary licensing agreements for Remdesivir

Gilead has signed non-exclusive voluntary licensing agreements with five generic pharmaceutical manufacturers based in India and Pakistan to further expand supply of Remdesivir. The agreements allow the companies – Cipla Ltd., Ferozsons Laboratories, Hetero Labs Ltd., Jubilant Lifesciences and Mylan – to manufacture Remdesivir for distribution in 127 countries.

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Services sector shrinking at a fast pace, top businessman feared

FPCCI’s Businessmen Panel SVP, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Wednesday said that the services sector serving tens of millions of people shrinking at a fast pace. The crisis has shaken the resilient retail sector while the revival of some sectors can take years.

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KCCI urges shopkeepers to strictly adhere to SOPs, negligence to create disastrous situation

President Karachi Chamber of Commerce & Industry (KCCI) Agha Shahab Ahmed Khan has urged shopkeepers of each and every commercial market across Karachi to strictly adhere to all the Standard Operating Procedures (SOPs) during the ongoing shopping season of Eid ul Fitr as any negligence towards these SOPs would create a disastrous situation, which was already too bad as the number of COVID-19 infected people continues to rise across the country.

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MakeaMask Campaign


Striving to build awareness on the importance of wearing masks, JS Bank along with its implementing partner, the Mahvash and Jahangir Siddiqui Foundation has launched an innovative #MakeaMask Campaign to encourage people to make their own mask and receive free health insurance.

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Pakistan fertilizer industry outlooks

Despite a steep decline of 25% yoy in urea offtake in 1QCY20, we believe that urea demand will rebound in the remainder of CY20f. The combination of lower urea prices, better food commodity prices and government focus on the agriculture sector will lift overall demand to 5yr industry average level of 5.7mn

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Pakistan fertilizer industry outlooks

Despite a steep decline of 25% yoy in urea offtake in 1QCY20, we believe that urea demand will rebound in the remainder of CY20f. The combination of lower urea prices, better food commodity prices and government focus on the agriculture sector will lift overall demand to 5yr industry average level of 5.7mn

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Karandaaz subsidizing design thinking services to swell financial inclusion

Karandaaz has announced the launch of a new programme to subsidize design thinking services for Digital Financial Service (DFS) providers offering products and services through mobile and web-based platforms. Karandaaz aims to promote digital financial products and services that address the needs of the customers; create more valuable, appealing, and user-friendly solutions; and expand financial inclusion in the country. 

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Auto industry sales drop down in Pakistan due to lockdown

During Apr ’20, Pakistan’s auto industry sales stood at only 39 units thus pushing 10MFY20 auto sales to 98,449 units, down 52%, YoY, attributable to countrywide lockdown in place following outbreak of coronavirus (COVID-19).

Only two tractor assemblers, AGTL & MTL posted modest sales – 2,035 units cumulatively sold in Apr ’20, down 63%, YoY, and lower by 30%, MoM – on the back of rising tractor demand due to wheat harvest and upcoming fruit and vegetable seasons.

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FEROZ enters negotiations for production of Remdesivir in Pakistan

In an exchange filing yesterday, Ferozsons Laboratories Limited (FEROZ) notified that it has entered negotiations, via its 80% owned subsidiary BF Biosciences Limited (BFBL), to potentially reach a non-exclusive license agreement with US based Gilead Sciences Inc. for the manufacture and sale of Remdesivir – a US FDA approved wide-spectrum antiviral drug used to treat advanced stage Covid-19 patients – in Pakistan and 126 other countries.

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Workers’ remittances increased in Pakistan

The Workers’ Remittances received during July – April FY20 amounted to US $ 18,781.6 million recording an increase US $ 980.6 million or 5.5 percent over remittances received during July – April FY19 (US $ 17,801.0 million).

Workers’ remittances during April 2020 amounted to US $ 1,790.0

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Businessmen see wheat crisis in the country

FPCCI’s Businessmen Panel SVP, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Monday said the country is on the brink of a destabilising wheat crisis.

The prices of wheat and flour have been increasing steadily which calls for urgent intervention by federal or provincial governments otherwise it will engulf country with a heavy political cost, he said.

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FINCA Pakistan employees contribute to PM’s COVID Relief Fund

Playing its role in supporting the nation in times of crisis, FINCA Microfinance Bank Pakistan and its employees donated PKR 2 Million to the Prime Minister’s COVID 19 Relief Fund.

This was a part of a local initiative in which FINCA employees contributed a day’s worth of salary towards COVID relief in appreciation of the country’s need in this time of crisis.

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