Magazine Features

MALAK launches one-stop multi-brand beauty shop, unveiling flagship store in Karachi

MALAK, a revolutionary beauty brand dedicated to providing premium beauty products, had the grand opening of its flagship store in an exclusive ceremony here in Karachi. With an ambitious vision to establish a retail network of ten stores nationwide within the next three years, MALAK aims to become the go-to destination for beauty enthusiasts across Pakistan.… Continue

EFP condoles the demise of VP Fasihul Karim Siddiqi.

With a heavy heart, the Employers’ Federation of Pakistan(EFP) bids farewell to Vice President Fasihul Karim Siddiqi, who passed away. Fasihul Karim Siddiqi served as the Secretary General of the EFP for over 5 years and remained a member of the EFP Board of Directors for over two decades.… Continue

The Bulls triumphed at the PSX to begin the week today.

· The bulls triumphed at the PSX to begin the week today. The market opened in the green and continued to trade with fervent sentiments as rumors of a possible tax on corporate reserves account made highlights in the market, as the investors opted to add value to their portfolios making the bourse reach an intraday high of 684.59 and eventually close in the green.… Continue

FPCCI advocates the enlistment of Tech Firms with PSX.

Mr. Suleman Chawla, Acting President FPCCI, has advocated that Pakistan Stock Exchange (PSX) should facilitate and enable Pakistani IT, FinTech, Software Houses and other tech firms to enlist with PSX; and, take the internationally-proven route of Initial Public Offering (IPO) to generate capital for rapid scaling-up domestically and establishing their footprint internationally as well.… Continue

Agha Steel Introduces Game-Changing Green Grade 80 Steel Rebars bringing a revolution in the construction industry.

Agha Steel, Pakistan’s leading steel manufacturer, proudly announces the launch of Agha Arcon Eco-Friendly Grade 80 Steel Rebars, a game-changing innovation to transform the construction industry. This groundbreaking product showcases Agha Steel’s commitment to providing high-quality and technologically advanced solutions to meet the market’s evolving needs.… Continue

Karandaaz launches findings of a comprehensive report on Private Healthcare in Pakistan.

Karandaaz is a leading impact investor in Pakistan to promote access to finance for Micro, Small and Medium Enterprise (MSMEs) and financial inclusion of unbanked individuals. Karandaaz conducted a highly anticipated webinar to unveil the findings of its groundbreaking report titled “Private Healthcare in Pakistan – Gaps, Opportunities, and Possibilities.”… Continue

Pakistan to receive $500 million orders at TEXPO 2023.

Pakistan’s textile and leather sector will likely receive orders worth US$500 million upon the successful conclusion of three days of TEXPO 2023, said Chief Executive Trade Development Authority of Pakistan (TDAP) Zubair Motiwala, along with top officials on the second day of the fair, during a media briefing held in Karachi Expo Centre.… Continue

Fly Jinnah increases flight frequency between Karachi and Islamabad.

Fly Jinnah, Pakistan’s new low-cost carrier (LCC), announced an increase in flight frequency between Karachi & Islamabad effective June 1, 2023. The airline will now operate three daily weekly flights, providing travelers with greater convenience and flexibility.

Now the schedule of the 3rd flight to Islamabad, effective June 1, 2023 (all times local):

As the summer season approaches, the demand for affordable and reliable air travel options between the two major cities continues to grow.… Continue

NKATI industrialists hold rally to show solidarity with Pak Army

Moiz Khan, President North Karachi Association of Trade & Industry (NKATI) led a rally to express solidarity with the Pakistani armed forces and institutions. NKATI’s Senior Vice President Shabbir Ismail, Vice President Naeem Haider, Deputy Chief CMC Syed Yasir Ali, Assistant Chief CMC Shahzad Elahi, Farooq Khatora, and a large number of industrialists participated in the rally.… Continue

Procter & Gamble announced new commitments to advancing Equality & Inclusion.

Procter & Gamble (NYSE: PG) announced new commitments to advancing Equality & Inclusion (E&I) at its third annual #WeSeeEqual summit in Karachi. The event saw participation from influential personalities and industry leaders, including; Alla Kamins, Foreign Service Officer, U.S. Department of State, Sidra Iqbal, Award-winning broadcast journalist and a youth icon, Andrew Bailey, Managing Director, BASF Pakistan, Dr.… Continue

Pakistan inching towards political stability and economic fundamentals improving.

On Sunday, former President of the Islamabad Chamber of Commerce and Industry (ICCI), Dr Shahid Rasheed Butt, said that Pakistan is inching back to normal as the political crisis that has engulfed the country for years is subsiding. “Political stability will result in economic stability, which will not only improve the image and economy of the country but also advance the quality of life of people,” he said.… Continue

Tax policies encourage businesses to join the informal sector.

On Sunday, former Vice President of FPCCI Atif Ikram Sheikh said the tax-to-GDP ratio is below 10 percent in Pakistan, which is below the level required for any proper economic growth. He said there have been no serious efforts to expand the tax base and tax machinery relief on increasing collection through indirect taxes and burdening taxpayers, which has never worked.… Continue

Abu Dhabi & Gulf Countries committed $500 million in investment, Federal Minister of Maritime Affairs, Faisal Sabzwari.

Federal Minister for Maritime Affairs, Faisal Sabzwari, announced that a contract worth $500 million is being negotiated with gulf countries, including Abu Dhabi. The intergovernmental agreement policy has been formulated and will be submitted to the Law Ministry on Monday. If approved, it will pave the way for direct foreign investment as per the conditions set by the International Monetary Fund (IMF).… Continue

TEXPO 2023 attracted a large number of buyers

The 4th edition of TEXPO Pakistan 2023, a flagship event of the Trade Development Authority of Pakistan (TDAP) and Ministry of Commerce & Textile was inaugurated by Mr Shahbaz Sharif, the Honorable Prime Minister of Pakistan, accompanied by Mr Kamran Khan Tessori, Governor of Sindh, Syed Murad Ali Shah, Chief Minister Sindh, Mr Naveed Qamar, Federal Minister for Commerce, Mr Ahsan Iqbal Chaudhary, Minister for Planning, Ms Marriyum Aurangzeb, Federal Minister for Information and Broadcasting, Mr Tariq Bajwa, SAPM, Dr Aisha Ghaus, Minister of State for Finance, at Expo Center (Karachi).… Continue

Investment in the IT sector reaches up to $373 million, Amin-ul-Haq.

Aminul Haq, the Federal Minister for Information Technology and Communication, stated that an agreement has been made with Google for 45,000 scholarships, which will increase to 450,000 next year. The upcoming scholarships will include a 40/percent allocation for women. Previously, Google had provided only 15,000 scholarships last year, but the ministry interfered to increase the number through consultations.… Continue

PSX outlook for next week

Any further development on IMF front along with receiving Chinese rollover of USD$2.3bn is likely to reduce pressure on external front with reserves standing at USD$4.19bn. However, the delays in IMF front and high external financing requirements of around ~USD$28bn will likely lead to further PkR depreciation.… Continue