PNSC organised a function to commemorate the 75th Independence Day of Pakistan. The celebration commenced with the recitation of the Holy Quran. Chairman PNSC, Rizwan Ahmed, hoisted the national flag and addressed the attendees.
Chairman PNSC, while addressing, emphasised that today was the day of reflection.… Continue
The country’s leading energy company and national flag bearer, Pakistan State Oil (PSO), celebrated 75 years of Pakistan’s Independence at PSO House, Karachi. On this momentous occasion, Managing Director & CEO, Syed Muhammad Taha hoisted the national flag, which was followed by the national anthem and prayers for the country’s prosperity and progress.… Continue
Acting Governor State Bank of Pakistan (SBP) Dr. Murtaza Syed unveiled the Rs75 Commemorative Banknote to mark the 75 years of Pakistan’s Independence in a graceful ceremony held at the SBP Museum, Karachi on August 14, 2022. He also inaugurated the Roshan Pension Plan (RPP) to augment the lifestyle banking under Roshan Digital Account (RDA) initiative for overseas Pakistanis.… Continue
Strengthening its long-standing commitment to the nation’s unity this Independence Day, BankIslami held the Azadi Walk for its employees with the support of Commissioner Karachi Division. The Azadi Walk took place in the afternoon of 12th August, starting at Metropole and ending at the Commissioner’s office.… Continue
During the week, the KSE-100 gained 761 points and closed at 42,858 points. As Pakistan has received a Letter of Intent (LoI) from the IMF and top army officials visit KSA and UAE to ensure financial assistance amid support of dwindling foreign exchange reserves led the positive rally in the market.… Continue
As Pakistan completes 75 years of Independence, Spotify is marking the occasion with a distinct mix of tunes and exclusive content that celebrates the nation’s pride and heritage. The music streaming platform will celebrate the day with some of the country’s hottest artists, starting with Spotify Pakistan’s captivating social media franchises “All About Qoumi Taranah” and “Only in Pakistan”.… Continue
Pakistan car sales (including sales of Non-PAMA members) clocked in at ~14k units down 59% MoM primarily due to production issues, higher car prices resulting low purchasing power of consumers, and less working days due to Eid ul Adha holidays in Jul-2022.… Continue
The Board of Directors of Meezan Bank approved the financial statements of the Bank for the half year ended June 30, 2022. The meeting was chaired by Mr. Riyadh S.A. A. Edrees – Chairman of the Board, Mr. Faisal A. A.… Continue
Executive Director Development Finance Group (DFG) Mr. Samar Hasnain has reiterated that the Mera Pakistan Mera Ghar (MPMG) Scheme is not shut down permanently and the government has decided to revise the features of the Scheme in light of changed macroeconomic situation.… Continue
Beaconhouse is a global network of private schools and institutes educating over 315,000 students in seven countries. Carrying forward its mission to inculcate global best practices to improve education delivery, Beaconhouse has joined hands with Tech Valley, an innovative digital consulting firm and trusted country partner of Google for Education in Pakistan.… Continue
Pakistan’s economic recovery continued in H1-FY22, notes the Half Year Report for FY22 on the State of Pakistan’s Economy, released by the State Bank of Pakistan (SBP) today. From the perspective of first half FY22, the large scale manufacturing (LSM) exhibited broad-based expansion; exports grew buoyant alongside growth in FBR taxes; and Kharif crops recorded higher production.… Continue
In continuation of steps taken for ease of doing business, State Bank of Pakistan (SBP) has automated the verification of refinance claims under the Export Finance Scheme (EFS). Automated verification will significantly enhance the efficiency of refinance operations and improve exporters’ access to liquidity.… Continue
Standard Chartered Bank Pakistan Limited (SCBPL) in partnership with the British Deputy High Commission (BDHC), Karachi organised an event to celebrate 75 years of Pakistan’s independence. The event was widely attended by girls between the ages of 11-15 years, from schools of underserved communities which the Bank supports through their Goal programme.… Continue
· The market opened in the positive zone although investors’ participation remained dull throughout the opening session. The bulls made a comeback in the second session for value hunting across the board after Pakistan received the letter of intent from the International Monetary Fund for the extended fund facility.… Continue
The newly elected KE Board met for its first board meeting on Thursday. The Board, which was reconstituted following an Extraordinary General Meeting (OEGM) held on 29th July 2022 as per statutory requirements, appointed Mark Gerard Skelton as the Chairman of the utility’s Board of Directors.… Continue
An IT Technology workshop was organized by Huawei Pakistan for National Bank of Pakistan (NBP) during which Huawei regional experts presented various SDN solutions for Enterprise networks and how those are helping banks achieve digital transformation. The event was attended CIO NBP, Amin Manji, Head of Technology, M.… Continue
ACCA says that the draft standards from the International Sustainability Standards Board (ISSB) are urgently needed to provide a consistent global base line for companies reporting on sustainability-related financial information.
While welcoming the two exposure drafts (EDs) ACCA notes that it is imperative that reporting drives the necessary systematic change in sustainability reporting and that operational changes take place in companies and that investors use the information provided to allocate capital more efficiently and responsibly.… Continue
Chairman Sindh Revenue Board (SRB) Dr. Wasif Ali Memon has said that as the Sindh Government has drastically reduced Sindh Sales Tax on IT, Software Businesses and Call Centers from 13 percent to just 3 percent, all relevant businesses which moved to other provinces, should come back to Karachi where they will enjoy the lowest sales tax as compared to other provinces.… Continue
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance and former provincial minister Mian Zahid Hussain on Friday said the economy of a country that spends equal to a quarter of its GDP on imports could never be stable.… Continue
The monetary policy committee of SBP will convene on Monday (August 22, 2022). We expect SBP to keep the policy rate unchanged at 15% in the upcoming monetary policy. To recall, in the monetary policy meeting held in Jul’22, the State Bank of Pakistan (SBP) increased the benchmark policy rate by 125bps to 15% (highest since March 1999).… Continue
Huawei announced its business results for the first half of 2022 today. Overall performance was in line with forecast. In 2022 H1, Huawei generated $45 billion in revenue, with a net profit margin of 5.0% . The Carrier BG contributed $21.3 billion, the Enterprise BG $8.1 billion, and the Device BG $15.1 billion.… Continue
“It is indeed a matter of great pleasure to see the IDEAS gaining prominence with every passing year, over a span of twenty two years”, Federal Minister for Defence, Khawaja Muhammad Asif stated during Soft Launch ceremony for International Defence Exhibition And Seminar IDEAS – 2022, held at Marriott hotel, Islamabad on 11 August 2022.… Continue
Former Chairman of Korangi Association of Trade and Industry (KATI), Senator Abdul Haseeb Khan, speaking at the launch ceremony of his book ‘Iman Aur Bandgi’, said that it is one of the countless gifts given to us by Allah Ta’ala. I have written it in recognition of Allah’s blessings because faith and worship of Allah make us successful in both religion and the world.… Continue
Engro Polymer & Chemicals (EPCL) has announced that the basic engineering study is under process for de-bottlenecking of VCM production facility to 300K MT from the existing 254K MT. It may be mentioned here that EPCL announced 2Q2022 earnings today, where company recorded earnings of Rs2.57/share down 25% YoY and 50% QoQ.… Continue
Leading B2B e-commerce platform Alibaba.com will host an event in Faisalabad on 16 August to discuss the new era of B2B e-commerce with existing and potential exporters in the region.
The event, titled “Go Export with Alibaba.com,” will bring together existing and potential exporters to offer tips and counsel on ways to begin and develop an online export business, as well as address questions on the necessary skills required by Pakistani sellers to grow in the field.… Continue