The Ambassador of Kingdom of Morocco Mohamed Karmoune has said that the existing trade volume was not enough so Morocco and Pakistan need to do more through enhanced interaction between the Chambers of Commerce and the business communities with a view to improve trade volume between the two brotherly countries.… Continue
Under its social responsibility banner, “Concern Beyond Cars”, Indus Motor Company Limited (IMC) and NED University of Engineering & Technology (NED) have partnered to improve the deteriorating condition of safety on roads in the country. The two year contract was signed by IMC Chief Executive, Ali Asghar Jamali and NEDs Registrar, Ghazanfar Hussain, at the company’s headoffice.… Continue
Spotify hosted its first Masterclass in Pakistan, exclusive to artists and labels, with the aim to educate them about Spotify For Artists. The signature educational session shed light on avenues for artist development offered through Spotify where musicians have access to the data, tools, and knowledge that they require to facilitate their journey of raising their profile and finding fans across borders.… Continue
Free Fire Pakistan has released a live action music video featuring cricket superstars Babar Azam, Shadab Khan, Shaheen Afridi and Shoaib Malik as superheroes. The veteran and the Runner ups for the T20 World Cup have been in the limelight for their heroics on and off the field and befittingly feature as Superheroes in this action packed film.… Continue
S&P Global Pakistan (S&P Global) has successfully mentored more than 12,000 women as part of its pledge to mentor 20,000 under the U.S.-Pakistan Women’s Council’s (USPWC) Pakistan Million Women Mentors (PMWM) Initiative.
The company announced this milestone during an event co-hosted by the U.S.-Pakistan… Continue
· A positive session was witnessed at the PSX today. Due to the inclusion of 4 companies of KSE-100 index in Morgan Stanley Capital International (MSCI) Frontier Market Pakistan. The KSE-100 Index opened in a positive zone and while driven by the bulls gained 315 points.… Continue
Pakistan’s monthly CAD has increased to USD567mn in Oct’22, up 56% MoM primarily due to decline in remittances and imports. However, CAD has reduced significantly on YoY basis from USD1.78bn in Oct’21. This is due to administrative measures to curb non-essential imports and reduced energy imports, lowering the trade deficit to USD2.3bn (-35% YoY and -3% MoM).… Continue
Chairman Businessmen Group (BMG) & Former President Karachi Chamber of Commerce & Industry Zubair Motiwala has said that Pakistan needs to increase the exports but it was not happening at all as the exports have been constantly declining because of unavailability of gas to the industries.… Continue
A new joint guide by ACCA (the Association of Chartered Certified Accountants) and the International Federation of Accountants (IFAC) released at the World Congress of Accountants (WCOA) aims to boost PFM reforms across the globe by defining for the first time the idea of professionalisation specifically in the context of public sector finance.… Continue
Meezan Bank, Pakistan’s leading Islamic bank and Pakistan Mortgage Refinance Company (PMRC), a Mortgage Liquidity Facility set up by the State Bank of Pakistan, have recently inked a Master Musharakah agreement to support and promote affordable housing finance in the country.… Continue
Minister of State (Petroleum Division), Ministry of Energy, Mr Musadik Malik and Captain (retd.) Mohammad Mahmood, Additional Secretary (In-charge) for Petroleum Division visited PSO’s Head Office in Karachi.
Managing Director & CEO, Pakistan State Oil (PSO), Syed Taha along with the company’s senior management discussed the various aspects of energy demand and supply scenario, sustainability of supply chain, future strategy and road map to meet country’s requirements with the guests.… Continue
Over 250 cyclists participated in The Citizens Foundation (TCF) Event Cycle For Change this year to help raise funds to bring flood-affected children in Pakistan back to school. A significant number of cyclist groups participated from various parts of Karachi and gathered at TCF School Shirin Sultan Dossa Campus, Qayyumabad to advocate for quality education.… Continue
Amreli Steels Limited (ASTL) held its analyst briefing earlier today, wherein the following was discussed:
· To recall, the company posted PAT of PkR1.3bn (EPS: PkR4.46) for FY22, lower by 3%YoY compared to the same period last year. ASTL’s Net sales for the year were PkR58.1bn, higher by 48%YoY.… Continue
The monetary policy committee of SBP will convene on Friday (November 25, 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% and this stance was taken in lieu of a continued deceleration in economic activity as well as a decline detected in headline inflation since the last meeting held in Aug’22.… Continue
Power generation went down by 5% YoY to 10,705 GWh (14,388 MW) during Oct’22, compared to 11,296 GWh (15,183 MW) during Oct’21. The decline in the generation was owed to lower generations from FO, RLNG, and Coal by 87%, 32%, and 12% YoY, respectively.… Continue
Karandaaz Pakistan held a webinar to launch its latest study on the potential of Climate-Smart, Low-Income Housing in Pakistan. Industry leaders and stakeholders came together to deliberate on the housing needs in Pakistan and the impact green initiatives can have in meeting the needs of populations especially vulnerable to the impact of climate change. … Continue
Shaukat Khanum Memorial Cancer Hospital (SKMCH) honoured Sui Southern Gas Company by conferring its Social Responsibility Award 2021 in acknowledgement of gas utility’s financial contribution to facilitate free treatment of cancer patients from the lesser privileged communities.
Award was presented by Dr.… Continue
Free Fire has announced Pakistani cricket icons Shaheen Afridi and Shoaib Malik are set to join the stage with Babar Azam and Shadab Khan as the official brand ambassadors for Free Fire in Pakistan. Free Fire is the world’s leading mobile battle royale game with over 1 Billion downloads and has been at the forefront of the esports revolution in Pakistan.… Continue
The Graduation Ceremony of the MBA, Executive MBA and MS Business Analytics programs of the Karachi School of Business and Leadership (KSBL) was held recently. KSBL celebrated its Commencement Ceremony in the backdrop of 10 Year Celebration for the institution.
NEPRA announced to conduct a public hearing on 30 November over the petition submitted by K-Electric on account of Fuel Charges Adjustments (FCA) for October 2022 and Quarterly Adjustments for July to September 2022.
For the month of October, K-Electric has filed a petition for the negative FCA at a rate of PKR 1.883/kWh and is the fourth consecutive negative FCA since July.… Continue
Business Community has expressed pleasure and welcomed the appointment of Zubair Motiwala; Chairman PAJCCI as CEO of Trade Development Authority of Pakistan (TDAP). Motiwala is a well-known industrialist, businessman, and social worker. He is the founding Chairman of the Pakistan-Afghanistan Joint Chamber of Commerce & Industry (PAJCCI), Managing Director of Diamond Textile (Pvt.)… Continue
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 postponement of the IMF ninth review mission is very dangerous. The economy does not have the capacity to oppose the IMF, so the agreement made with the international organization should be respected, he said.… Continue
Mr Faraz Abid Lakhani, President of ILMA University, has been appointed Special Assistant to CM, Sindh, Syed Murad Ali Shah, through an official notification. He is assigned to this coveted position due to his service to the Country.
Mr Lakhani is an enterprising entrepreneur and a renowned personality in the socio-economic, educational and philanthropic spheres.… Continue
BARD Foundation is funding Roshni Homes Trust x Sciencefuse programme, which aims to teach high-quality science education in a creative way to children of Roshni Homes first, then across the ‘Golden Triangle’ (Sialkot, Gujrat and Gujranwala). Sciencefuse is a social enterprise working to improve the quality of science education among 3- to 14-year-old students.… Continue
Infinix today announced the launch of the Infinix X Discovery Global Vlog Challenge, which aims to build an ecosystem of mobile videography captured by Infinix users. The campaign aims to inspire users of passion mobile photography thereby expressing it through creative short videos on various social media channels.… Continue