Magazine Features

Discuss issues of the business community with the Finance Minister, Kamran Tessori

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

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

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

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

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

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

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

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