Mr. Rehmat Ali Hasnie, President National Bank of Pakistan (NBP), recently made a visit to the Head Office of the Network of Organizations Working for People with Disabilities, Pakistan (NOWPDP). During his visit, he presented the organization with a donation of PKR 5 million to support a wide range of services and training initiatives.… Continue
Author Archive: Siddiqi
Daraz South Asia E-Commerce Summit to bring together top e-commerce and tech leaders
The South Asia E-commerce Summit, a dynamic platform for industry leaders, innovators, and entrepreneurs, is set to bring together visionaries from the e-commerce and technology sectors. This summit, with a special focus on technology and innovation and women in e-commerce, will be the region’s most influential e-commerce summit that will explore trends shaping the future of the digital economy.… Continue
Pakistan Cables has started commercial production of Medium Voltage Cables.
Pakistan Cables Limited has informed the Pakistan Stock Exchange (PSX) about important material information. It says that the installation and commissioning of its Catenary Continuous Vulcanization (CCV) line, with German engineering and technology, for manufacturing Medium Voltage Cables has been completed and has started commercial production.… Continue
Reports of another interest rate hike are concerning: Mian Zahid Hussain.
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said on Wednesday that reports of a further increase in interest rates by State Bank are worrying. He said that interest rates are already so high that further expansion would be disastrous for the economy.… Continue
U.S. Ambassador Donald Blome’s visit to Gwadar
U.S. Ambassador Donald Blome visited Gwadar, Balochistan, on September 12, to underscore the United States’ commitment to the people of Balochistan, a steadfast and robust partnership. The visit explored opportunities to enrich development, trade, and commercial ties, building on the successful outcomes that underpin the robust U.S.-Pakistan… Continue
PTCL & DynaSys join hands to take IoT & Satellite Communications to the next level
Pakistan Telecommunication Company Limited (PTCL) and DynaSys Networks (DynaSys) announced the signing of two Memoranda of Understandings (MoUs) at a ceremony held at the National Aerospace Science and Technology Park (NASTP) in Rawalpindi. The signing ceremony was jointly chaired by Aamer Ejaz, Group Vice President, Carrier Services, PTCL & Ufone 4G and Ali Akhtar, Founder and CEO, DynaSys Networks.… Continue
JS Bank and State Life forge strategic alliances to provide financial solutions for customers and employees.
State Life Insurance Corporation of Pakistan (SLIC) and JS Bank Limited have signed a Memorandum of Understanding (MoU) to provide seamless financial 
and insurance services to their customers and employees. Through this agreement, JS Bank will provide innovative transaction banking solutions, including cash management and employee banking services, to SLIC.… Continue
Joint efforts will be made to welcome Foreign Direct Investment: Durre Samin.
President Culture Literary International Friends Forum Mujeeb ur Rehman Khan, while addressing the Annual General Meeting of CLIFF-PAKISTAN, said that economic stability can only be achieved for the country by promoting culture, tourism and literature. We have to play our role for the economic survival of our country.… Continue
Discover together: Romantic escapes in Dubai
Dubai, known for its towering skyscrapers, opulent lifestyle, and desert charm, might be the first and most accessible destination for Pakistanis that comes to mind when you think of a romantic getaway. However, this vibrant city in the heart of the United Arab Emirates offers a myriad of enchanting experiences for couples seeking a romantic escape.… Continue
HUBC strong finish to FY23, with a dividend of PkR6.0/sh for the quarter.
The Hub Power Company (HUBC) announced its 4QFY23 result earlier today, where the company reported consolidated quarterly earnings of PkR23.9bn (EPS: PkR18.43), up by 112%QoQ/241%YoY. This takes cumulative earnings for the full year to PkR57.5bn (EPS: PkR44.37), up by 102%YoY.
· Consolidated revenue for the quarter clocked in at PkR32.3bn, up by 19%QoQ as the newly operational subsidiaries i.e.… Continue
OMI Hospital and Jubilee Life Insurance join hands to elevate healthcare access for Jubilee Health Cardholders
OMI Hospital, a renowned healthcare institution based in Karachi, and Jubilee Life Insurance, Pakistan’s largest private-sector insurance company, are pleased to announce their strategic partnership.
Under this partnership, OMI Hospital extends exclusive privileges to Jubilee Health Insurance members, including discounts on Outpatient Services (OPD), Emergency Room (ER) consultations, radiology services, laboratory services, and home collection of specific test samples at reduced rates.… Continue
Visa card tips to avoid online fraud
According to Visa’s latest Stay Secure study, overconfidence is leaving Pakistan’s consumers open to becoming fraud victims. Despite more than half of respondents (56%, similar to the global average) claiming to be savvy enough to sidestep online and phone scams, the reality is that nine out of ten (91%; similar to global) are likely to disregard the warning signs that suggest online criminal activity.… Continue
Govt now accords priority to economic diplomacy: Majyd Aziz
Majyd Aziz, President of Global Compact Network Pakistan (GCNP), stated that Pakistan is now prioritising economic diplomacy. Recently, this process has been amplified with the formation of the Special Investment Facilitation Council. He added that an excellent example of economic diplomacy is the personal initiative and effort of General Asim Munir, Chief of Army Staff.… Continue
Marking the world water week CCI Pakistan installs the 35th PAANI Plant
In a ceremony held at Rescue Headquarters located in Lahore, Mr. Ahmet Kursad Ertin, Regional Director (SAME)- CCI Pakistan (Coca-Cola Beverages Pakistan Limited) and Dr. Rizwan Naseer Secretary Emergency Services Department, inaugurated a new water filtration Plant installed for the local community.… Continue
Inflation is widening the gap between rich and poor: Mian Zahid Hussain.
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said on Monday that inflation is widening the gulf between the rich and the poor. He said that the middle class has become poor, and the people are suffering under the burden of inflation, which is causing economic and social problems.… Continue
Doctors-scarce Pakistan has 35% female doctors jobless
Many female doctors are out of jobs in Pakistan even though the world’s fifth most populous country badly needs qualified medical practitioners. Ironically, this is happening in a country where the resource-constrained government is spending billions of rupees on subsidising medical education in public sector universities.… Continue
Operation against hoarders and smugglers should be accelerated.
Brig. (retd) Aslam Khan, Chairman of Pakistan Economy Watch (PEW), said on Monday that the operation against hoarders and smugglers of dollars, oil, sugar, and urea is commendable, but it needs to be accelerated. If the influential mafia is not eliminated this time, it will destroy the country, he said, adding that the people do not want elections but food and some relief.… Continue
The ACLE 2023 concludes successfully in Shanghai.
After a four-year hiatus, the 2023 All China Leather Exhibition (ACLE) was held in an optimistic atmosphere at the Shanghai New International Expo Centre in Halls E1-E7 on August 29-31, 2023. The exhibition covered an area of 80,500 square meters with more than 1,000 exhibitors from 29 countries and regions, including 14 international and domestic pavilions.… Continue
KATI partners with Global Cyber Security Firm xcitium to Boost IT Sector
In a significant move to bolster Pakistan’s Information Technology (IT) sector, the Korangi Association of Trade and Industry (KATI) has joined forces with the 
international cyber security giant, xcitium, and their Pakistani partner, Aqua Orange Pakistan. The partnership was formalized through an agreement signed by President KATI Faraz-ur-Rehman, and xcitium Vice President Terry Stuart, ceremony was attended by Caretaker Finance Minister of Sindh Younus Dagha, CEO Aqua Orange Shahan Farid, notable figures from both organizations, government officials, and members of the IT community.… Continue
Close supervision of Pak-Afghan trade is critical to Pakistan’s survival.
Dr Murtaza Mughal, President of Pakistan Economy Watch (PEW), said on Sunday that Pakistan’s economy cannot be stable in the presence of currency exchange companies and Afghan transit trade. Any currency dealers provide services to the corrupt elements and send the capital collected through take out of the country.… Continue
U.S. Ambassador to Pakistan Donald Blome at the USAID “Invest in Pakistan Conference”
Ambassador Blome: I am pleased to be with you today at the first in a series of Invest in Pakistan Conference events hosted by USAID. Today’s gathering underscores our shared commitment to mobilizing investments from the U.S.-Pakistani diaspora in innovative ways to help address Pakistan’s most pressing economic, technological, social, and humanitarian challenges.… Continue
A review of Pakistan Oil and Gas Exploration Sector 2023
As per the latest available data from PPIS, the country’s oil reserves stand at 193mn bbl in Jun’23 compared to 233mn bbl in Jun’22, a decline of 17% YoY (which is owed to natural decline at major oil fields). The decline in reserves of major fields such as Jhandial, Pasakhi/Pasakhi North, Chanda, Adhi, Nashpa, Shahdadpur, and Makori East which depicted a plunge of 99.6%, 27%, 15%, 13%, 13%, 6%, and 3% YoY, respectively contributed to the overall decline in oil reserves.… Continue
Amreli Steels incurs losses due to high taxes and finance costs in4QFY23
Amreli Steels Limited announced its 4QFY23 results, where the company posted a LAT of PkR969mn (LPS: PkR3.26), marking a 304% decrease when compared to a PAT of PkR476mn (EPS: PkR1.60) last quarter. This decrease is mostly attributed to a 1048% increase in tax charges and a 9% increase in finance costs QoQ.… Continue
Pakistani Pop Duo “Hassan and Roshaan” bring back the 90s as Spotify’s latest RADAR Pakistan Artists
Spotify’s RADAR Pakistan, a beacon for emerging musical talents, continues to illuminate the local music scene by featuring the captivating Pakistani Pop songwriting duo, Hassan and Roshaan, in its third-quarter showcase. Based in the vibrant city of Lahore, this talented duo brings a fresh and enchanting sound that melds eastern traditions with electrifying western influences.… Continue
Political blame game on the sugar crisis termed a fixed match, Crackdown should be continued
Dr Murtaza Mughal, President of Pakistan Economy Watch (PEW), said on Friday that leading politicians from different political parties are trading accusations on the sugar crisis, which has engulfed the whole country. He said this blame game is a fixed match as all the stakeholders have benefited from the problem in which the poor masses lost billions of rupees.… Continue