Faisal
Moiz Khan, President North Karachi Association of Trade & Industry (NKATI) led a rally to express solidarity with the Pakistani armed forces and institutions. NKATI’s Senior Vice President Shabbir Ismail, Vice President Naeem Haider, Deputy Chief CMC Syed Yasir Ali, Assistant Chief CMC Shahzad Elahi, Farooq Khatora, and a large number of industrialists participated in the rally.… Continue
Procter & Gamble announced new commitments to advancing Equality & Inclusion.
Procter & Gamble (NYSE: PG) announced new commitments to advancing Equality & Inclusion (E&I) at its third annual #WeSeeEqual summit in Karachi. The event saw participation from influential personalities and industry leaders, including; Alla Kamins, Foreign Service Officer, U.S. Department of State, Sidra Iqbal, Award-winning broadcast journalist and a youth icon, Andrew Bailey, Managing Director, BASF Pakistan, Dr.… Continue
Pakistan inching towards political stability and economic fundamentals improving.
On Sunday, former President of the Islamabad Chamber of Commerce and Industry (ICCI), Dr Shahid Rasheed Butt, said that Pakistan is inching back to normal as the political crisis that has engulfed the country for years is subsiding. “Political stability will result in economic stability, which will not only improve the image and economy of the country but also advance the quality of life of people,” he said.… Continue
Tax policies encourage businesses to join the informal sector.
On Sunday, former Vice President of FPCCI Atif Ikram Sheikh said the tax-to-GDP ratio is below 10 percent in Pakistan, which is below the level required for any proper economic growth. He said there have been no serious efforts to expand the tax base and tax machinery relief on increasing collection through indirect taxes and burdening taxpayers, which has never worked.… Continue
CPEC reactivated Chinese-funded $58 billion railway project to start soon.
On Sunday, Saifuddin Sheikh, Executive Director of Pakistan Economy Watch (PEW), said the conspiracy to destroy Pakistan economically, politically, and defensively by making it hostile towards China had been foiled. The attack on PTV and Parliament House in 2013 was aimed at gaining power and sabotaging the visit of the President of China, he said.… Continue
Abu Dhabi & Gulf Countries committed $500 million in investment, Federal Minister of Maritime Affairs, Faisal Sabzwari.
Federal Minister for Maritime Affairs, Faisal Sabzwari, announced that a contract worth $500 million is being negotiated with gulf countries, including Abu Dhabi. The intergovernmental agreement policy has been formulated and will be submitted to the Law Ministry on Monday. If approved, it will pave the way for direct foreign investment as per the conditions set by the International Monetary Fund (IMF).… Continue
Foreign delegates meet on the side-lines of TEXPO 2023
On the second day of TEXPO 2023, foreign delegations from Germany, South Africa, Australia, Algeria, Madagascar, Egypt, the UK, Rwanda, Zambia, Bangladesh, and Zimbabwe met with Mr Zubair Motiwala, Chief Executive of TDAP, and Dr Fareed Iqbal Qureshi, Secretary of TDAP.… Continue
TEXPO 2023 attracted a large number of buyers
The 4th edition of TEXPO Pakistan 2023, a flagship event of the Trade Development Authority of Pakistan (TDAP) and Ministry of Commerce & Textile was inaugurated by Mr Shahbaz Sharif, the Honorable Prime Minister of Pakistan, accompanied by Mr Kamran Khan Tessori, Governor of Sindh, Syed Murad Ali Shah, Chief Minister Sindh, Mr Naveed Qamar, Federal Minister for Commerce, Mr Ahsan Iqbal Chaudhary, Minister for Planning, Ms Marriyum Aurangzeb, Federal Minister for Information and Broadcasting, Mr Tariq Bajwa, SAPM, Dr Aisha Ghaus, Minister of State for Finance, at Expo Center (Karachi).… Continue
The 2nd International solar energy will start in Lahore on the 2nd of June.
The 2nd International Solar Energy Meet (ISEM) & IEEEP IREM Expo (Pakistan’s Premium Electronics and Electrical Exhibition) will start on Friday (June 02) at Expo Center Lahore which will be attended by the local and international energy & power sector experts, primarily working in renewable power with a focus on solar power generation.… Continue
Investment in the IT sector reaches up to $373 million, Amin-ul-Haq.
Aminul Haq, the Federal Minister for Information Technology and Communication, stated that an agreement has been made with Google for 45,000 scholarships, which will increase to 450,000 next year. The upcoming scholarships will include a 40/percent allocation for women. Previously, Google had provided only 15,000 scholarships last year, but the ministry interfered to increase the number through consultations.… Continue
PSX outlook for next week
Any further development on IMF front along with receiving Chinese rollover of USD$2.3bn is likely to reduce pressure on external front with reserves standing at USD$4.19bn. However, the delays in IMF front and high external financing requirements of around ~USD$28bn will likely lead to further PkR depreciation.… Continue
Pakistan Aluminium Beverage Cans expansion will be completed in August this year.
Pakistan Aluminium Beverage Cans Limited (PABC) held its analyst briefing earlier today, wherein the management discussed the following:
* The company has posted Net Profit of PkR2.7bn (EPS: PkR7.48) in CY22, 69% higher than the same period last year. Revenues almost doubled during the period, increasing by 96%YoY to PkR14.1bn.… Continue
FPCCI welcomes the inauguration of Pak – Russia direct shipping service
Mr Suleman Chawla, Acting President FPCCI, has welcomed the inauguration of Pakistan – Russia shipping & cargo service; and pinned his hopes that trade with Russia will usher the country into a new era where considerable pressure will be reduced from Pak Rupee and its parity vis-à-vis dollar; balance of payments can see some stability after the trade volumes are increased on a sustained basis as the commercial transactional procedures and other teething problems are sorted out.… Continue
Zong 4G’s International Roaming offer for pilgrims travelling to Saudi Arabia
Zong 4G, Pakistan’s leading telecommunications company, has launched its Saudi Arabia Roaming Offer to facilitate pilgrims travelling to Saudi Arabia. This offer enables travellers to stay connected with their loved ones back home while travelling anywhere in Saudi Arabia.
Zong 4G has introduced this offer with the intent that customers stay connected with their friends and family throughout their stay in Saudi Arabia, whether for pilgrimage or for business.… Continue
The political turmoil destroying Pakistan’s economy
On Friday, a former president of the Islamabad Chamber of Commerce and Industry (ICCI), Dr Shahid Rasheed Butt, said the political upheaval and other factors had destroyed the country’s economy. HE SAID THAT the IMF’s program is on hold, foreign exchange reserves are at around $4 billion, and Pakistan is due to pay $3.7 billion next month, with the risk of default looming.… Continue
Alibaba.com joins forces with TEXPO 2023 to foster the growth of local E-commerce Textile Businesses.
Global business-to-business (B2B) e-commerce platform Alibaba.com today announced that it would participate in the 4th International Textile Exhibition (TEXPO 2023) to be hosted by the Trade Development Authority of Pakistan (TDAP) from 26-28 May 2023 to connect Pakistani textile exporters with its community of more than 40 million buyers worldwide.… Continue
NBP, through its extensive network, assists customers with Digital Banking
The National Bank of Pakistan has unequivocally recognised and commended the ground-breaking accomplishments of its Digital Champion campaign. The bank deeply appreciates its esteemed digital ambassadors whose unwavering commitment and outstanding efforts were instrumental in successfully directing NBP customers toward adopting digital banking.… Continue
The PSX trading remained low due to the country’s ongoing political turmoil.
· The PSX opened with a lacklustre session, as investor participation remained low due to the country’s ongoing political turmoil. However, as the session began following the break, investor activity rose substantially as the bears dominated the KSE-100 index, losing 245.88 points in the intraday.… Continue
FPCCI welcomes the opening and operationalisation of UAE’s biggest visa centre in the Karachi Consulate
Mr Suleman Chawla, Acting President FPCCI, has welcomed the opening and operationalisation of UAE’s biggest visa centre in Asia in their Karachi Consulate; and termed it a milestone in fostering the people-to-people (P2P) and business-to-business (B2B) relations between the two brotherly countries.… Continue
APCAA condemns the violence and destruction of 9th May 2023
Today, the Executive Committee of All Pakistan Customs Agents Association (APCAA) has denounced the violence and destruction that occurred in various cities on 9th May 2023. Led by Mr. Maqbool A Malik, Chairman (APCAA), the Executive Committee and other prominent leaders of the Customs Association.… Continue
Business community pinning high hopes on 5th China-Pakistan-Afghanistan Trilateral Foreign Ministers’ Dialogue
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said the business community is pinning high hopes on the 5th China-Pakistan-Afghanistan Trilateral Foreign Ministers’ Dialogue held in Islamabad recently.… Continue
KCCI’s assistance sought in dealing with unjust demands for CVT retrospectively
Members of a delegation from Automotive Traders & Importers Association (ATIA) led by President ATIA Ch. Amir Ali Khan expressed deep concerns over Excise & Taxation (E&T) Department’s unjust demand for Capital Value Tax (CVT) imposed on transfer of vehicles which, although became effective from July 1, 2022 but was not applied immediately by the E&T Department and now, after a lapse of 10 months, the department was demanding CVT retrospectively which was technically not possible.… Continue
Annus Abrar opens his new flagship atelier in Karachi
Pakistan’s much-loved fashion designer Annus Abrar opened the doors to his all-new artistic atelier in Karachi in a star-studded launch event on the evening just in time for this festive season.
The brand-new Annus Abrar atelier Showcases the label’s most sought-after collections, semi-formals and prêt-à-porter, and the designer’s signature bridals.… Continue
Steps should be taken to document the undocumented economy, President KATI Faraz-ur-Rehman
Pakistan People’s Party leader and Senator Nisar Ahmad Khoro has said that the problems of KATI will be solved on a priority basis. He said that most attention has been given to Karachi in Sindh. He expressed these views while addressing a luncheon at the Korangi Association of Trade and Industry (KATI).… Continue
Container vessel “Crystal St Petersburg” arrives at Karachi Port.
On its maiden call, the container vessel “Crystal St Petersburg” reached Karachi Port in 21 days. The vessel was berthed at KICT. During an event, Minister for Maritime Affairs Syed Faisal Sabzwari welcomed the vessel at Karachi Port along with Chairman KPT Syedain Raza Zaidi and Consul General of Russia H.… Continue