Governor Sindh Kamran Tessori has said that I am the ambassador of the business community and I talk to the government and convey the problems of businessmen and industrialists as their representative. Two days later, Federal Finance Minister Ishaq Dar is visiting the Governor House, where I will discuss all the issues faced by the business community.… Continue
Author Archive: Siddiqi
White Ribbon workplace gender inclusion awards for corporate sector launched
For the first time in Pakistan, White Ribbon, which is part of global men’s movement present in over 50 countries for ending violence against women and girls, has announced the launch of White Ribbon Workplace Gender Inclusion Awards for corporate sector in Pakistan.… Continue
Arts Council of Pakistan elections on December 18, 2022
Arts Council of Pakistan Karachi elections for the next year 2023-2024 will be held on December 18, 2022. In the governing body meeting chaired by President Arts Council Muhammad Ahmad Shah on Monday, the election schedule was unanimously approved, according to which the voter list will be displayed on December 2.… Continue
NICL has started the commercial operations of the first phase of expansion of Caustic Soda
Nimir Industrial Chemicals (NICL) & Nimir Resins Limited (NRSL) | Chemical | Analyst Briefing Takeaways
NICL and NRSL conducted their corporate briefing sessions today to discuss the financial performance of FY22 & 1QFY23 along with the company’s future outlook.
To recall during FY22 & 1QFY23 NICL posted PAT (profit after tax) of PKR 1.6bln & PKR 215mn respectively translating into EPS of PKR 14.43/share & PKR 1.95/share respectively.… Continue
Current account deficit major problem of Pakistan: Mian Zahid Hussain
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 Monday said the current account deficit is one of the major problems of Pakistan. Our economy has suffered current account deficits for 72 years to indiscriminate consumption of foreign goods, he said.… Continue
A bloodbath session was witnessed at the PSX today due to increase in interest rates
· A bloodbath session was witnessed at the PSX today. The State Bank of Pakistan unexpectedly raised interest rates by 100 basis points during the post-close session of the previous business day, shaking investors’ confidence. As anticipated the benchmark KSE-100 index opened in the negative zone and shed 972.79 points in the intraday.… Continue
Suleman Chawla becomes CACCI Vice President
In an astounding achievement for Pakistan in international trade circles, Mr. Khurram Tariq Sayeed, former VP FPCCI was elected Vice President of the Confederation of Asia-Pacific Chambers of Commerce & Industry (CACCI) at the 36th CACCI Conference at Melbourne, Australia. It is pertinent to note that CACCI is one of the world’s most influential trade alliances comprising of 27 countries.… Continue
… Pakistan Coating Association and KCCI vow to work jointly to promote industries.
A delegation Pakistan Coating Association (PCA) led by its Chairman, Mr Siraj Uddin, met the President of KCCI, Mr Muhammad Tariq Yousuf and discussed the matter of cooperation for resolving business communities’ problems from the Chambers platform. PCA delegation visited the Karachi Chamber of Commerce & Industry and greeted the newly elected Office Bearers of KCCI.… Continue
KATI delegation headed by SM Muneer met with Zubair Motiwala
Korangi Association of Trade and Industry (KATI) Patron-in-Chief SM Muneer, President Faraz-ur-Rehman, KITE Limited CEO Zubair Chhaya, Vice President Muslim Mohammadi, UBG Leader Khalid Tawab, Ahmed Chinoy. Among others met the newly elected Chief Executive of TDAP Zubair Motiwala and congratulated him on taking charge.… Continue
Governor Sindh inaugurated third table tennis championship league in Karachi
The third table tennis championship league was held in Karachi Gym Khana in which Governor Sindh Kamran Tessori was the chief guest whose guests. Governor Sindh reveal the Trophy and started 5-day competitions. The third table tennis champion league will continue for five days.… Continue
Surprise hike as inflation concerns appear elevated
In the monetary policy meeting held today (25th Nov’22), the State Bank of Pakistan (SBP) has hiked the benchmark policy rate by 100bps to 16%. To recall, the last hike of 125bps was done in Jul’22. The current stance aims to contain the impact of elevated domestic inflationary pressure, so as to embark on a path of sustainable recovery.… Continue
Jazz and Sprite collaborate for a new exciting offer “Thand Rakh Aur Bann Super”
Jazz, Pakistan’s leading digital operator – and a part of VEON Group, has partnered with Sprite, the world’s leading refreshing soft drink, a brand of The Coca-Cola Company, to launch their latest joint campaign called, “Thand Rakh Aur Bann Super” nationwide.… Continue
Matrix Pharma leads initiatives to raise awareness of Iron Deficiency
Iron Deficiency Day unites a strong international coalition dedicated to raising international awareness on the serious health impact of iron deficiency and iron deficiency anemia
- Patient access to diagnosis and treatment of iron deficiency directly affected by COVID-19 pandemic
- This year, spotlight is on raising awareness on symptoms and importance of early diagnosis
Matrix Pharma took a lead today, in view of ‘World Iron Deficiency Day’, for the advocacy and awareness on ‘Iron Deficiency in Pakistan’ with the aim to educate people about the importance of iron for the body and what can happen if iron levels are not properly managed.… Continue
The week concluded with another range-bound trading session at the PSX today
· The week concluded with another range-bound trading session at the PSX today. The session began in the positive zone after the name of the new COAS was announced, providing much-needed clarity on the political ground. However, after the second session resumed, the index traded in a narrow range, drying up volumes as investors chose to remain on the sidelines in anticipation of today’s Monetary Policy announcement.… Continue
OGDCL launches education program for out-of-school children in Attock
As a responsible corporate, the Oil and Gas Development Company Limited (OGDCL) under its CSR Program yesterday launched ‘MASHAL-E-ELM Program’ for out-of-school children of village Chappri in district Attock.
In this regard, an MoU was signed between Vision-21 Global and OGDCL to launch the education program at the cost of PKR 29.816 million.… Continue
State Bank increases interest rate to 16% from 15% today.
At today’s meeting, the Monetary Policy Committee (MPC) decided to raise the policy rate by 100 basis points to 16 percent. This decision reflects the MPC’s view that inflationary pressures have proven to be stronger and more persistent than expected. It is aimed at ensuring that elevated inflation does not become entrenched and that risks to financial stability are contained, thus paving the way for higher growth on a more sustainable basis.… Continue
Appointment of COAS, JCSCC on seniority basis welcomed
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 appointment process of the eleventh Army Chief and Joint Chiefs of Staff Committee Chairman was completed on merit and without any major political controversy which is good for the country.… Continue
Google Tech Valley to provide technological tools of learning to Pakistani schools
To bring innovation in the education sector Google has tied up with a private school with a nationwide presence.
Under the agreement, Google Tech Valley signed a memorandum of understanding with the private school to upskill teachers and give exposure to students to universal tools of learning.… Continue
Meezan Bank wins employer of the Year Award 2021
Meezan Bank, Pakistan’s leading Islamic bank has been recognised among the top two winners as ‘Employer of the Year’ by Employers Federation of Pakistan (EFP) – Pakistan’s largest forum for employers. The Bank has received 2nd position as ‘Employer of the Year Award 2021’ in the category of ‘Large National Companies.’… Continue
Millat Tractors plans to increase exports in view the decline in domestic demand of tractors.
The management of Millat Tractors Limited (MTL) held a corporate briefing session today to discuss the FY22 financial result and future outlook.
Brief Takeaways
· To recall, Millat Tractors Limited (MTL) announced its financial result for FY22 on 23rd Sep’22, whereby the company posted a Profit After Tax (PAT) of PKR 5.4bn (EPS: PKR 56.02), down by 6% YoY.… Continue
One week training course on “Cotton Ginnin” – KCA
The Karachi Cotton Association (KCA) has organized One Week Training Course on “Cotton Ginning” with the collaboration of the Pakistan Cotton Standards Institute (PCSI) from November 21-25, 2022, at the premises of the KCA to impart basic knowledge regarding the process of cotton ginning.… Continue
Treet to produce Batteries, Soaps, and Corrugated Boxes
Treet Corporation Limited (TREET) held its Corporate Briefing Session yesterday, wherein the management discussed the company’s financial performance during FY22 and the outlook of the company.
To recall, the company posted earnings of PkR861.8mn (EPS: PkR4.82) for FY22 from its core operations, lower by 44%YoY.… Continue
Pakistanis say YouTube is the no.1 online video and music platform
YouTube hosted its first-ever YouTube Brandcast in Pakistan to celebrate YouTube’s creator community, and to share the latest insights, updates, and inspiration from brands succeeding on the platform. At Brandcast, YouTube also spotlighted how the platform is supporting the Pakistani creator ecosystem by building a reliable, multi-format platform that enables creators to build local and global communities that meet the evolving needs of their audiences
According to Google and Kantar’s Unlocking Digital in Rural Pakistan research, YouTube is the most popular online video platform in Pakistan with 62% of online Pakistanis ages 18-24 reported watching YouTube once a month or more. … Continue
OGDC believes Reko Diq Project will support the company’s diversification strategy.
The management of Oil & Gas Development Company Limited (OGDC) held a corporate briefing session on 24th Nov’22 to discuss the company’s financial performance and future outlook.
Brief Takeaways
· To recall, the company posted a profit after tax of PKR 133,784mn (EPS: PKR 31.11), witnessing a surge of 46% YoY owed to higher oil prices and Pak Rupee depreciation against the greenback.… Continue