KE’s improved operational performance was acknowledged in the State of the Industry report for FY21-22. The report which offers a detailed snapshot of the health of the power sector of Pakistan. The report, published annually by National Electric Power Regulatory Authority (NEPRA), also highlighted the longstanding issue of supply of low gas to K-Electric’s power plants at Korangi and SITE, which is affecting 200 MW of generation capacity for Karachi and leading to expensive power generation.… Continue
Ambassador Donald Blome visited Azad Jammu and Kashmir (AJK) October 2-4 to promote the U.S.-Pakistan partnership and highlight the two countries’ deep economic, cultural, and people-to-people ties.
During his visit, Ambassador Blome met with AJK Prime Minister Tanveer Ilyas and academic, business, cultural, and civil society representatives.… Continue
Meezan Bank, Pakistan’s leading Islamic bank has been conferred with the top honour in the Financial Sector category at the Management Association of Pakistan’s (MAP) 37th Corporate Excellence Awards ceremony held recently, at Movenpick Hotel, Karachi. The Award recognizes Meezan Bank for its outstanding performance and demonstrating progress and enlightened management practices.… Continue
Jazz, Pakistan’s largest digital operator and the largest internet and broadband service provider, has been certified to ISO/IEC 27001:2013, the international standard for information security management system.
Jazz, a part of the VEON group, achieved this accreditation after a rigorous assessment process symbolizing its commitment towards data protection and service excellence.… Continue
- Demand for electricity expected to grow at a 2% CAGR for the next two decades, largely driven by industrial motors, space cooling, appliances and electric vehicles.
- Renewable energy sources are shifting the energy value chain, allowing for “prosumers” to feed energy into the grid while simultaneously consuming it.
FrieslandCampina is partnering with the World Wide Fund for Nature (WWF-Pakistan) on a tree plantation initiative to increase local resilience to the impact of climate change and increase tree cover.
The collaboration will focus on the plantation of indigenous trees to help combat pollution, deforestation, and urban flooding.… Continue
As the demand for fast, secure and simple digital payments across borders continues to grow, UBL and NayaPay have collaborated to enable users in Pakistan to receive international remittances from over 100 money transfer agents (MTOs) directly in their NayaPay accounts.… Continue
· Another positive session was observed at the PSX today after the Current Account Deficit declined significantly which helped the investors to gain confidence. The market opened in the green zone and traded favorably throughout the trading session. After announcing that its parent firm is concluding arrangements for NASDAQ listing, Worldcall Telecom Limited continued to dominate the volume board as trading volumes increased on the main board.… Continue
Lucky Cement Limited (PSX: LUCK) won the Management Association of Pakistan’s Corporate Excellence Award in the Cement Sector category. Atif Kaludi, Chief Financial Officer of Lucky Cement Limited received the award at the 37th MAP Annual Corporate Excellence Award Ceremony held at a local hotel yesterday.… Continue
Google is launching Google for Startups Accelerator: Circular Economy for startups and non-profit organizations in Pakistan, Asia-Pacific and North America. The program will select organizations that use technology to solve circularity challenges including reuse, refill, recycling, composting, fashion, food, safe and circular materials, and the built environment.… Continue
PTCL Group in collaboration with Akhuwat Foundation has delivered food packages to flood-affected communities in Balochistan that have been facing food shortages in the wake of recent monsoon floods.
The food assistance initiative is part of PTCL Group’s PKR 1.75 billion pledge towards relief and rehabilitation of the devastated communities across the country.… Continue
The monetary policy committee of SBP will convene on Monday (October 10, 2022). We expect SBP to keep the policy rate unchanged at 15% in the upcoming monetary policy. To recall, in the last MPS too, policy rate was kept unchanged at 15%.… Continue
TECNO Mobile Pakistan is doing an exciting fashion-style collaboration with BTW Pakistan. BTW is a fashion-forward brand, popular for chic western and Ethnic clothing. The Mondrian variant is the inspirational muse for this style collaboration between the two leading brands. The handset becomes an instant hit from its launch and was on trending on Twitter with #ColorChangingMobile.… Continue
METRO Pakistan, supported by its parent company METRO AG, has entered into a Memorandum of Understanding (MoU) with the Pakistan Red Crescent Society (PRCS) for delivering essential food supplies worth PKR 11 million to flood affectees. The MoU was signed by the Director Corporate Affairs Mr.… Continue
As per the provisional fertilizer offtake data of Sep’22, urea offtake climbed up by 4% YoY to 508k tons compared to 487k tons in SPLY. Urea sales of EFERT witnessed a jump of 22% YoY, settling at 164k tons. Meanwhile, offtake of FFC and FFBL (combined) and FATIMA declined by 5% and 15% YoY, arriving at 237k tons and 79k tons, respectively.… Continue
Total Petroleum sales settled at 1.52mn tons in Sep’22, showing a decrease of 22% YoY owed to i) restricted mobility due to heavy rains and flash floods in the previous month, ii) massive surge in petroleum prices, iii) lower FO-based power generation, and iv) drop in automobile sales.… Continue
HUBC announced FY23’s first interim payout of PKR15.50/share today after skipping DPS announcement in the final result of FY22. A significant payout prior to the slated quarterly earnings announcement shores up investor confidence massively. The stock hit upper circuit today, more prominently as the payout offers ample 22.2% dividend yield from last close (20.6% at today’s upper circuit).… Continue
Leading global culinary brand, Shan Foods, has been honored with the Premier of Pakistan Export Award at the 45th FPCCI Export Awards in recognition of its export contribution in spice recipe mixes category and for its outstanding services in building a positive corporate image in international markets.… Continue
The Pakistan Cricket Board and Bank Alfalah have entered a four-year partnership to revive school cricket across the country. As per the partnership agreement, the PCB and Bank Alfalah will jointly organise a school tournament each year in which 120 schools (to be shortlisted by the PCB) will participate.… Continue
English Biscuit Manufacturers (EBM), the leading FMCG Company in Pakistan, has collaborated with Al Maya Group to expand its international business to the United Arab Emirates. This marks one of EBM’s largest expansions in the Middle East and promises to spread the joy of EBM’s brands in the region. … Continue
PSX experienced a positive day today, as investor’s accumulated high dividend yield stocks and ongoing strengthening of the Pak rupee against the US dollar. It maintained that momentum throughout the trading session, reaching an intraday high of 275.06 points after the HUB power company announced an outstanding payout that boosted investor confidence.… Continue
On Monday, the Management Association of Pakistan (MAP) organized the 37th Corporate Excellence Awards Ceremony at a local hotel. Former Finance Minister Miftah Ismail was the Chief Guest of the event and distributed awards among the winners. The top trophy winner in the Industrial Category was Engro Fertilizers Limited, while Meezan Bank Limited was awarded the top trophy in the Financial Category.… Continue
Pakistan Automotive Manufacturers Association (PAMA) has elected Saquib H. Shirazi, President and CEO of Atlas Honda, as the new Chairman for 2022-23 in elections held on 30 September 2022. Mr Sohail Bashir Rana, Executive Director, Millat Tractors and Mr Masafumi Harano, Managing Director, Pak Suzuki Motors, were elected as Sr.… Continue
Founder Chairman FPCCI Standing Committee on Custom Agents and Ex-Chairman Pak UK Business Council of FPCCI, elected unopposed as Vice Chairman of All Pakistan Custom Agents Association. Having 46 years in the related field as Custom Agents in Pakistan, who have also been listed by HM Custom & Revenue, UK Government to operate and work, specially Post Brexit Implications, for Transit Trade to EU Countries.… Continue
ACCA (the Association of Chartered Certified Accountants) hosted a large-scale corporate conference here in Multan today on the theme ‘Rethinking a better world – Sustainable Growth for Pakistan’ featuring country’s top business and thought leaders and policy makers.
The conference provided a platform to region’s key stakeholders and brightest minds to engage in interdisciplinary, forward-thinking conversations to propose an agenda to revitalise the private sector and kick start an era of sustainable, inclusive economic growth.… Continue