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 Wednesday that the new Chief Justice of the Supreme Court, Qazi Faiz Isa, has taken commendable steps as soon as he took charge.… Continue

The recent data published by the Pakistan Bureau of Statistics (PBS) indicates a decline in the output of Large Scale Manufacturing Industries (LSMI) for Jul’23, showing a 3.6% decrease on a MoM basis and a 1.1% decrease YoY.

LSMI Index stood at 108.0 during Jul’23 against 109.2 in Jul’22.… Continue

President Karachi Chamber of Commerce & Industry (KCCI) Mohammad Tariq Yousuf has expressed deep concern over the staggering hike in prices of petroleum products which would further fuel the already skyrocketing inflation, intensify miseries for common man and create serious issues for the industry due to unbearably high cost of doing business.… Continue

The recently concluded fiscal year was significantly influenced by challenging sociopolitical and macroeconomic factors that cascade impact multiple sectors, including KE. Surging inflation, policy rate hikes, rupee devaluation and a contraction in economic activity have significantly influenced the company’s operations and overall profitability.… Continue

In a landmark achievement, PSO has reached a remarkable milestone by inaugurating its state-of-the-art aircraft refuelling facility at the Quetta International Airport, situated in the heart of Balochistan, the capital and largest city of the province.

The auspicious occasion was graced by the General Manager Aviation, Marine & Exports, PSO, Syed Khawar Abbas Jillani as the chief guest, along with other dignitaries including, Malik Mazhar Hussain APM – Quetta, representatives from the Civil Aviation Authority (CAA), the vigilant guardians of the Airport Security Force (ASF), local luminaries, and revered officials from both organizations.… Continue

Dawlance is the leading producer of refrigerators and a wide range of home appliances in Pakistan. Dawlance has changed its Refrigerant usage in air conditioners from R410A to a much safer gas, which will also be recycled in the future for a sustainable future.… Continue

Pakistan recorded its Current Account Deficit (CAD) of US$160mn in Aug 2023 vs US$775mn in Jul-2023, which is better than estimates. This takes 2MFY24 CAD to US$935mn against a CAD of US$2,035mn in 2MFY23.

Remittances up 3% MoM to US$2.1bn in Aug-2023.… Continue

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 Friday that the country is facing serious economic, political, and environmental crises. Authorities are trying to manage problems temporarily with some success, but he said serious matters should not be taken lightly.… Continue

Saifuddin Sheikh, Executive Director of Pakistan Economy Watch (PEW), said on Thursday that all the credit goes to the Chief of Army Staff General Asim Munir for the continuous increase in the value of the rupee and the decrease in the price of sugar.… Continue

On Thursday, former Vice President of FPCCI Atif Ikram Sheikh said inflation has increased a lot. At the same time, the purchasing power of the people has become the lowest compared to other countries in the region. In these circumstances, the wage increase has become inevitable to enable the masses to bring food to the table, he said.… Continue

In response to the recent baseless allegations of gas theft by Sui Northern Gas Pipeline Limited (SNGPL), Jazz, Pakistan’s largest digital operator, has served the gas company with a Rs 10 billion defamation notice. Categorically refuting SNGPL’s false claims of gas theft at a Karak (KP) site, the telecom company has served a legal notice to SNGPL.… Continue

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

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 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

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

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

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

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

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

The leadership of Businessmen Group and Karachi Chamber of Commerce & Industry (KCCI) have highly appreciated Governor Sindh Kamran Khan Tessori for advocating Karachi Chamber’s stance against inflated electricity bills during his meetings in Islamabad held to discuss some of the most pressing issues of Karachi, particularly the inflated electricity bills which were unbearable and unaffordable to the business community, small traders, shopkeepers and inhabitants of Karachi.… Continue

U.S. Ambassador Donald Blome visited Lahore September 4-6 to promote U.S.-Pakistan trade and economic ties, broaden and deepen cooperation with the people and government of Punjab, and discuss the importance of protecting and respecting human rights and fundamental freedoms for all.… Continue

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 most finance ministers have tried to prove themselves as the Messiah instead of correcting the economic corruption.… Continue

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 Friday that terrorists have started targeting border and transit trade, resulting in heavy losses to the exporters and importers.… Continue

TikTok has launched an exciting campaign in Pakistan to amplify awareness and comprehension of its Community Guidelines. Central to this initiative, TikTok is hosting a series of workshops across the country designed to enhance creators’ understanding of the platform’s Community Guidelines.… Continue

Brig. (retd) Aslam Khan, Chairman of Pakistan Economy Watch (PEW), said on Friday that the difference between the income and expenditure of the people has widened a lot, making their lives miserable. The majority of the masses are not able to survive even after compromising over the expenses incurred on children’s education and treatment, he said.… Continue