Fly Jinnah, Pakistan’s low-cost carrier, celebrates its first anniversary, honoring a year of extraordinary service and remarkable accomplishments. Over the course of 
the past 12 months, Fly Jinnah has firmly established itself as a preferred airline for travelers, operating a network of domestic flights and connecting major cities across Pakistan, including Karachi, Lahore, Islamabad, Peshawar, and Quetta.… Continue
Author Archive: Siddiqi
Fatima Fertilizer signs agreement with Mastercard to digitize farm input payments in agriculture
Fatima Fertilizer, Pakistan’s leading fertilizer manufacturing company, and Mastercard, a global technology company in the payments industry, have signed an agreement aimed at modernizing Pakistan’s agricultural ecosystem by ensuring financial inclusion of farmers. This strategic collaboration will leverage the latest technologies to digitize payment transactions between a nationwide network of thousands of fertilizer dealers and the farmer community.… Continue
Zong 4G’s first E-Sports platform, “Zong Engage,”
Zong 4G, Pakistan’s leading digital network, staying true to its brand promise of “Let’s Get Digital,” launches its first-ever E-sports platform, “Zong Engage” to elevate the gaming experience of the country’s youth. With the launch of Zong Engage, all gaming enthusiasts can subscribe to the service, participate in exciting online gaming tournaments, and win prizes.… Continue
Daraz prioritises customer trust and extends the Return Policy to 14 Days
Daraz, Pakistan’s leading online shopping platform, has announced a customer-oriented policy change that extends its return timeline for Marketplace products from 7 days to 14 days, emphasizing its commitment to enhancing customer satisfaction. This policy adjustment aims to make the online shopping experience more convenient and streamlined for millions of customers across the platform.… Continue
Mastercard collaborates with Euronet Pakistan to modernize payment platforms
Mastercard has announced a strategic partnership with Euronet – an industry leader in processing secure electronic financial transactions – to bring Card-as-a-Service (CaaS) and Bank-as-a-Fintech (BaaF) solutions to Pakistan. The emerging CaaS and BaaF models allow banks, non-financial institutions and fintechs to easily create and launch innovative products with scalability and quicker time-to-market.… Continue
Nishat Chunian announced its 1QFY24 results, where the company posted a PAT of PkR0.5bn
Nishat Chunian Limited (NCL) announced its 1QFY24 results, where the company posted a PAT of PkR0.5bn (EPS: PkR2.1) vs. a profit of PkR0.4bn (EPS: PkR1.9) in the preceding quarter, an increase of 13%QoQ, owing to a substantial growth in topline and relatively flat gross margins i.e.,… Continue
Tariq Glass has established a 1MW solar plant.
TGL’s earnings for 1QFY24 clocked in at PkR759mn (EPS: PkR4.41/sh), reflecting an increase of 115%YoY (EPS in 1QFY23: PkR2.05/sh). Topline for the company during 1QFY24 stood at PkR6.9bn, registering an increase of 7.5%YoY. Recently, TGL organized its corporate briefing session where the following points were discussed:
· Company has established a 1MW solar plant and plans to make further expansions considering high energy costs and the need to shift towards renewable energy sources.… Continue
Pakistan listed banks earnings jump 95% YoY (50% YoY in US$) in 3Q2023
Pakistan listed banks profitability increased to record Rs163bn up 95% YoY in 3Q2023. This was primarily driven by significant jump in Net Interest Income (NII) amid high interest rates, and balance sheet growth. In US$ terms listed banks profit was also up 50% YoY to US$560mn in 3Q2023.… Continue
The government should provide relief to the cottage industry with equal rights. President KATI Faraz-ur-Rehman
In a significant economic development, Pakistan’s tax collection has surpassed its targets, and for the first time in 14 months, notable growth in the large-scale and power sectors is recorded. Finance Minister Dr. Shamshad Akhtar shared these encouraging views during her address to industrialists at the Korangi Association of Trade and Industry (KATI).… Continue
Synite Digital Pakistan wins Four Dragons Awards at the Prestigious 2023
Synite Digital, Pakistan’s Digital Agency of the Year for the past two consecutive years (2022 & 2023) has made a resounding mark on the global stage by clinching four prestigious awards at the 2023 Dragons of Asia Marketing Communications Industry Awards Programme.… Continue
Pioneer Cement its posting NPAT of PkR934mn (EPS: PkR4.11) in 1QFY24
Pioneer Cement Limited (PIOC) announced its 1QFY24 results today, with the company posting NPAT of PkR934mn (EPS: PkR4.11) compared to a loss of PkR100mn (LPS: PkR0.44) in the previous quarter. To recall, the preceding quarter’s earnings were largely hampered by the impact of the super tax’s retrospective implementation and deferred taxation.… Continue
PPL posted PAT of PkR29.62bn (EPS: PkR10.89) in 1QFY24
Pakistan Petroleum Limited (PPL) reported its 1QFY24 earnings earlier today, wherein the company posted Profit After Tax (PAT) of PkR29.62bn (EPS: PkR10.89) for the quarter, higher by 87%/13% on a QoQ/YoY basis—slightly above our estimate of PkR10.25/sh.
· The company’s posted its highest ever quarterly topline, clocking in at PkR77.45bn (up 6%/6% QoQ/YoY).… Continue
PRE-COP 28: Minister calls for collective action to pressing climate change challenges
Caretaker Federal Minister for National Food Security and Research, Dr Kausar Abdullah Malik, emphasised the need for collective efforts to address the challenges of climate change, water security, and food security on Monday. While addressing participants of a Pre-Cop 28 conference on “Accelerating the Water-Food Climate Nexus Transformation Pathways for Pakistan” organized by the International Water Management Institute (IWMI) in Islamabad, he stated that citizens must take steps to protect water resources to achieve sustainable development.… Continue
Mobilink Bank signs MoU with HRSG to provide premium financial services to their employees
Mobilink Bank signed a Memorandum of Understanding (MoU) with HRSG, a globally renowned service provider. This collaborative agreement strives to extend financial services to HRSG employees, showcasing the Bank’s dedication to improving the economic well-being of these individuals and supporting their financial aspirations.… Continue
“Tu Hai Kahan” by AUR takes the number 1 Spot
Spotify Pakistan has revealed another remarkable achievement for its Fresh Finds Pakistan artist as “Tu Hai Kahan” by AUR, an emerging R&B and hip-hop trio hailing from Karachi, has secured the number 1 position on the music streaming app’s Daily Viral Songs Global chart.… Continue
PTCL Group adopts Red Hat hybrid cloud solutions
Pakistan’s leading telecom and ICT services provider, PTCL Group (PTCL & Ufone 4G) announced today that it is leveraging Red Hat OpenShift, the industry’s leading hybrid cloud application platform powered by Kubernetes and Red Hat Application Foundations. These are a comprehensive set of components for developing and modernizing software to strengthen the Group’s digitalization ambitions.… Continue
SBP maintains the policy rate at 22 per cent today.
At its meeting today, the Monetary Policy Committee (MPC) decided to maintain the policy rate at 22 percent. The Committee noted that headline inflation rose in September 2023 as expected. However, it is projected to decline in October and then maintain a downward trajectory, especially in the second half of the fiscal year.… Continue
The success of the IMF review is extremely important for the economy.
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said on Monday that the success of the IMF review is very important for the Pakistani economy, therefore it should be given top priority.… Continue
TikTok holds a mental health awareness workshop in Pakistan.
TikTok, the world’s leading short-form video platform, held a Mental Health Awareness Workshop in Lahore as part of TikTok’s wellbeing campaign, #MentalHealthAwareness – Better Together, aimed at raising awareness about mental health issues and promoting digital literacy in this vital area.… Continue
Finance minister says government ready to facilitate foreign investors
Caretaker Finance Minister Dr Shamshad Akhtar has asked OICCI to support government’s endeavors to encourage foreign direct investment and invest in export-based industries to support countries development and contribute to strengthening balance of payments in a sustainable manner. She shared these views while speaking to OICCI members during her visit to OICCI.… Continue
The Digital Pakistan initiative launched in 2018 saw the materialisation of tangible results- Still some challenges to overcome
Article by Zeeshan Bukhari, Co-founder Bit-Affix
Pakistan’s digital transformation journey has been marred by several obstacles hindering its progress and preventing it from keeping pace with its regional counterparts. While the government’s Digital Pakistan initiative was launched in 2018, tangible results have slowly materialised.… Continue
SIFC is very important for Pakistan’s economic interests
FPCCI’s presidential candidate, Atif Ikram Sheikh, said on Sunday that economic security is very important for the sovereignty and independence of the country; therefore, it must be the top priority for a decade so that the country can become self-sufficient. Presently, the country is facing high inflation and a struggling industrial sector.… Continue
Shabbir Mansha Churra honoured with a Gold Medal.
Governor of Sindh, Kamran Khan Tessori, presenting the Gold Medal to Shabbir Mansha Churra, Vice President of FPCCI, in recognition of his outstanding services to the business community during the Indus University Convocation held at the Governor House.… Continue
Symposium on the future path for auto parts industry held at PAPS
A symposium on ‘The Future Drive: innovations, exports, trends, and way forward for auto parts manufacturers’ was held on the second day of the Pakistan Auto Show on Saturday at Karachi Expo Center. Imtiaz Rastgar, an export specialist, discussed export possibilities for light engineering and vendor industries and said that Pakistan’s vendors need to enter into the world market.… Continue
JS Bank stands with the Global Pinktober campaign, raises awareness about breast cancer
Reiterating its commitment to social responsibility, JS Bank participated in Global Pinktober Month, dedicated to raising awareness about breast cancer and the importance of early detection. The month began with awareness activities designed to communicate essential knowledge about breast cancer, its risk factors, and the role of early diagnosis to internal and external audiences through multiple platforms, including digital and social media channels.… Continue