PTCL accords grand reception to newly elected office bearers of CBA
Pakistan’s largest telecommunications and ICT services provider, PTCL held a grand reception in honor of the office bearers of PTCL Workers Ittehad Federation, the Collective Bargaining Agent (CBA), who recently won it through a nationwide referendum. The ceremony was graced by the presence of the guest of honor, Syed Sagheer Bukhari, Senior Programme Officer at the International Labour Organization (ILO), Country Office Pakistan, along with senior PTCL officials and newly elected office bearers and labor leaders from across the country.… Continue
Mama Organic launches Pakistan’s first natural, organic, and toxin-free beauty and skincare brand
Mama Organic, Pakistan’s first startup in the beauty and skincare industry, is proud to announce its mission to bring the goodness of nature to skincare enthusiasts. Founded by a team passionate about natural and toxin-free products, Mama Organic is revolutionizing the industry with its range of skin, hair, and body care solutions.… Continue
10 million employed in the cottage industry need to be protected: FPCCI
Mr. Irfan Iqbal Sheikh, President of FPCCI, has emphasised that the government policies should protect, emancipate and enable the cottage industry in Pakistan as it employs 10 million people in the country – bridging a massive employment gap left out by other sectors and industries.… Continue
Minister Dagha to form committee for resolving Karachi industrial challenges
Muhammad Younus Dagha, Caretaker Sindh Minister for Revenue, Industries & Commerce, has reiterated his commitment to resolving the challenges faced by industrialists in the North Karachi Industrial Area. During a meeting, he announced the formation of a committee that will specifically focus on addressing priority issues encountered by businesses in Karachi’s industrial zones.… Continue
Security Papers achieved 74% profit growth, with EPS increased by Rs. 2.62 in Q1 FY 2023-24
After 110% dividend in FY 2022-23, Security Papers Limited (SPL) announced its financial results for the first quarter of financial year 2023-24, ending September 30, 2023, recording a 74% growth in after-tax profit versus the same period last year and a substantial Rs.… Continue
Mobilink Bank witnesses a 38% growth in lending to MSMEs
Mobilink Bank exhibited significant growth in the first three quarters of 2023, as evidenced by the Q3 financial statements. This milestone highlights the Bank’s dedication to supporting Micro, Small, and Medium-Sized Enterprises (MSMEs), supported by substantial deposit growth and improvements on multiple indicators.… Continue
Aga Khan University’s 40th-anniversary multimedia exhibition opens to the public.
A multimedia exhibition that brings to life the 40-year history of the Aga Khan University opened Thursday with numerous dignitaries, including former Governor of the State Bank of Pakistan Dr Ishrat Husain and Oscar-winning filmmaker Sharmeen Obaid-Chinoy.
The first exhibition of its kind in AKU’s history, A Transformative Vision celebrates the vision of the University’s founder and Chancellor, His Highness the Aga Khan, the commitment of the thousands of dedicated individuals who have made that vision a reality and the impact AKU has on people’s lives.… Continue
Tech Valley Pakistan and Karachi Police to propel policing into the digital age with Google Workspace
Karachi Police and Tech Valley Pakistan, a Google Workspace and Google for Education Partner in Pakistan, are proud to announce a transformative collaboration aimed at revolutionizing law enforcement through digital innovation. This visionary initiative promises to streamline policing processes, resulting in more effective law enforcement and enhanced public safety.… Continue
SBP’s reserves increased by US$ 14 million
The total liquid foreign reserves held by the country stood at US$ 12,576.6 million as of 27-Oct-2023. The break-up of the foreign reserves position is as under:
- Foreign reserves held by the State Bank of Pakistan: US$ 7,507.8 million
- Net foreign reserves held by commercial banks : US$ 5,068.8 million
- Total liquid foreign reserves : US$ 12,576.6 million
During the week ended on 27-Oct-2023, SBP’s reserves increased by US$ 14 million to US$ 7,507.8 million.… Continue
A tripartite meeting of Employers, Workers and Government with CM Sindh discussed
Employers’ Federation of Pakistan delegation led by Former President Majyd Aziz and including Humayun Nazir, Director, and Syed Nazar Ali, Secretary General, had a meeting with Sindh Labor Secretary Shariq Ahmed, Commissioner SESSI Salim Raza, and Director General Labor Department Akhtar Ali Qureshi, to discuss the agenda for the tripartite meeting with Sindh Chief Minister Justice (r) Maqbool Baqar.… Continue
The textile industry strongly rejected the recent extraordinary increase in gas tariffs.
Chairman – All Pakistan Textile Mills Association (APTMA) Southern Zon, Zahid Mazhar, has strongly rejected the recent extraordinary increase in gas tariff for the export-oriented industries and termed it detrimental for the textile industry, which is already suffering due to the high cost of doing business.… Continue
Fariha Pervez and Asteria join the roster of EQUAL Pakistan ambassadors for 2023
EQUAL Pakistan, a Spotify program dedicated to empowering female artists, has highlighted its ambassadors for September and October 2023 in a towering fashion. With Fariha Pervez, the famed “Patang Baaz Sajna” singer lighting up a digital billboard on Times Square, NYC for September followed by Asteria, a captivating figure in Pakistan’s music scene, the program has continued a legacy of highlighting female musicians who have and are continuing to make an impact on the local music scene.… Continue
Dawlance partners with OICCI for ‘Climate Change Conference 2023’
The leading Home-Appliances manufacturers of Pakistan – Dawlance has partnered with OICCI ‘Overseas Islamic Chamber of Commerce and Industry’ (OICCI) in Karachi for the ‘Pakistan Climate Conference 2023’. Dawlance has been partnering for this prestigious annual forum regularly, to contribute towards preventing climate change.… Continue
Pakistan oil marketing companies saw rise of 19% MoM in Oct-2023; Ex-Furnace Oil sales up 24% MoM
Pakistan OMC’s recorded sales of 1.3mn tons, up 19% MoM and Ex-Furnace Oil (FO) sales up 24% MoM in Oct-2023. The MoM jump in sales is due to low base of the previous month amid higher prices and consumers were waiting in anticipation of a decline in prices to fuel up their tanks.… Continue
In partnership with HBL, Visa launched the global “She’s Next” program to Empower Women Entrepreneurs.
- Pakistan’s women entrepreneurs are invited to apply for grants worth USD 50,000, a tailored training program and access to networking and mentoring opportunities. Applications are open until 2 December 2023.
- Visa shares findings from She’s Next Women SMB Digitization Index survey of Pakistani women entrepreneurs, including:
- Women-owned businesses find funding a challenge, with 86% dipping into personal savings
- 99% of women entrepreneurs have plans to digitize their business
- 98% of women-led businesses are interested in payment related training
- 67% women entrepreneurs believe transition to a cashless business with digitization is a huge opportunity
Women-led businesses in Pakistan primarily face funding, digitization and advisory challenges according to Visa’s Women SMB Digitization Index survey.… Continue
Village Electrification Project (VEP) inaugurated; 1000+ solar systems will be provided to households in Thar Coal
The Thar Foundation recently marked a significant milestone with the inauguration of the Village Electrification Project (VEP), set to illuminate households in Thar Coal Block II through the installation of solar systems. As part of the initiative, a total of 1035 households are poised to benefit, painting a promising picture of progress and development for the region’s villages.… Continue
SITE President terms gas rate hike unviable for SMEs
President, SITE Association of Industry Muhammad Kamran Arbi, has termed the current gas rate hike disastrous & unviable for SMEs (Small & Medium Enterprises) that form the backbone of Industrial production. He further said that the current economic situation does not have room for absorption of this rate increase.… Continue
foodpanda Triumphs with Three Dragons of Asia Awards
foodpanda proudly announces its remarkable achievement with three prestigious Dragons of Asia Awards. These accolades recognise the company’s marketing excellence and reaffirm its food delivery and e-commerce leadership.
The Dragons of Asia, renowned for reviewing marketing campaigns across Asia, have recognised foodpanda’s extraordinary efforts with two Gold Dragons, one for Dragons of Asia and one for Dragons of Pakistan.… Continue
Xenith PR celebrates 24 years of success and achievements.
Xenith Public Relations (Pvt.) Limited, a full-service communications agency, is thrilled to celebrate its 24th anniversary this month. Founded in 1999 by visionary PR expert Zainab Ansari, Xenith PR has emerged as a trailblazer in the public relations sector, continuously evolving and staying at the forefront of industry trends and evolution.… Continue
Careem partners with LUMS to empower working-class women of Pakistan.
In a groundbreaking initiative, Careem, a pioneer of ride-hailing services in Pakistan, has partnered with the Lahore University of Management Sciences (LUMS) to launch “Asset-based Finance for Microenterprises in Pakistan’. The partnership aims to uplift and empower women in Pakistan by offering them the opportunity to become self-reliant entrepreneurs and contribute to the country’s socio-economic growth.… Continue
Pak-Japan Business Forum holds 15th AGM, Annual Dinner.
The Pakistan-Japan Business Forum (PJBF) held its 15th Annual General Meeting (AGM) chaired by its Patron-in-Chief, Ambassador of Japan Mitsuhiro Wada. The newly-appointed PJBF Chairman Murtaza Mandviwalla, his predecessor Kalim Farooqui, supported by Senior Vice Chairman Itaru Nakamura and Vice Chairman Feroz Alam Shah shared the details of this year’s performance report.… Continue
Inflation greater compared to SBP and IMF estimates: 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 there was scope for reducing the interest rate under the current economic conditions. Still, it was maintained, which is disappointing.… Continue
Shell signs agreement to sell majority shareholding in Shell Pakistan
Shell Petroleum Company Limited, a subsidiary of Shell plc (Shell), has agreed to sell its 77.42% majority interest in Shell Pakistan Limited (SPL) to Wafi Energy LLC.
The sale is part of Shell’s strategy to high-grade its mobility network and was first announced on Capital Markets Day in June 2023.… Continue
State Bank of Pakistan & CDC launched RAAST payments facility for Mutual Funds
Central Depository Company (CDC) has collaborated with the State Bank of Pakistan (SBP) for allowing investors to purchase mutual funds units using SBP’s RAAST Payment Gateway. CDC has developed a framework where it acts as an “Aggregator” and issues a Raast Payment ID, enabling investors to digitally transfer funds, using Raast, to the respective Asset Management Company (AMC) for purchase of mutual fund units.… Continue
PSX Index on its way to challenge May’17 High!
· KSE100 Index closed on a positive note, with the index gaining a cumulative of 1,230pts to end at 51,920pts, a gain of 12.3%MoM.
· The KSE-100 is well on its way to challenge its highest level attained in May’17 of 53,127pts.… Continue