Pakistan State Oil welcomes ministry officials

Minister of State (Petroleum Division), Ministry of Energy, Mr Musadik Malik and Captain (retd.) Mohammad Mahmood, Additional Secretary (In-charge) for Petroleum Division visited PSO’s Head Office in Karachi.

Managing Director & CEO, Pakistan State Oil (PSO), Syed Taha along with the company’s senior management discussed the various aspects of energy demand and supply scenario, sustainability of supply chain, future strategy and road map to meet country’s requirements with the guests.… Continue

Over 250 cyclists participated in The Citizens Foundation event cycle

Over 250 cyclists participated in The Citizens Foundation (TCF) Event Cycle For Change this year to help raise funds to bring flood-affected children in Pakistan back to school.  A significant number of cyclist groups participated from various parts of Karachi and gathered at TCF School Shirin Sultan Dossa Campus, Qayyumabad  to advocate for quality education.… Continue

The monetary policy on November 25. Markets expect SBP to keep the policy rate unchanged at 15%.

The monetary policy committee of SBP will convene on Friday (November 25, 2022). We expect SBP to keep the policy rate unchanged at 15% in the upcoming monetary policy. To recall, in the last MPS too, policy rate was kept unchanged at 15% and this stance was taken in lieu of a continued deceleration in economic activity as well as a decline detected in headline inflation since the last meeting held in Aug’22.… Continue

Shaheen Afridi & Shoaib Malik join Babar Azam & Shadab Khan to debut inside the world’s biggest game

Free Fire has announced Pakistani cricket icons Shaheen Afridi and Shoaib Malik are set to join the stage with Babar Azam and Shadab Khan as the official brand ambassadors for Free Fire in Pakistan. Free Fire is the world’s leading mobile battle royale game with over 1 Billion downloads and has been at the forefront of the esports revolution in Pakistan.… Continue

KE has requested a reduction of PKR 7.833 / kWh rupees on account of Quarterly Adjustments

NEPRA announced to conduct a public hearing on 30 November over the petition submitted by K-Electric on account of Fuel Charges Adjustments (FCA) for October 2022 and Quarterly Adjustments for July to September 2022.

For the month of October, K-Electric has filed a petition for the negative FCA at a rate of PKR 1.883/kWh and is the fourth consecutive negative FCA since July.… Continue

Business community hails appointment of Zubair Motiwala as CEO TDAP

Business Community has expressed pleasure and welcomed the appointment of Zubair Motiwala; Chairman PAJCCI as CEO of Trade Development Authority of Pakistan (TDAP). Motiwala is a well-known industrialist, businessman, and social worker. He is the founding Chairman of the Pakistan-Afghanistan Joint Chamber of Commerce & Industry (PAJCCI), Managing Director of Diamond Textile (Pvt.)… Continue

Breach of promise- Postponement of the IMF review dangerous: 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 Friday said the postponement of the IMF ninth review mission is very dangerous. The economy does not have the capacity to oppose the IMF, so the agreement made with the international organization should be respected, he said.… Continue

Faraz Abid Lakhani becomes Special Assistant to CM, Sindh

Mr Faraz Abid Lakhani, President of ILMA University, has been appointed Special Assistant to CM, Sindh, Syed Murad Ali Shah, through an official notification. He is assigned to this coveted position due to his service to the Country.

Mr Lakhani is an enterprising entrepreneur and a renowned personality in the socio-economic, educational and philanthropic spheres.… Continue

BARD Foundation takes the lead to ensure high quality science education in collaboration with Roshni homes trust

BARD Foundation is funding Roshni Homes Trust x Sciencefuse programme, which aims to teach high-quality science education in a creative way to children of Roshni Homes first, then across the ‘Golden Triangle’ (Sialkot, Gujrat and Gujranwala). Sciencefuse is a social enterprise working to improve the quality of science education among 3- to 14-year-old students.… Continue

Infinix X Discovery Global Vlog Challenge is now live!

Infinix today announced the launch of the Infinix X Discovery Global Vlog Challenge, which aims to build an ecosystem of mobile videography captured by Infinix users. The campaign aims to inspire users of passion mobile photography thereby expressing it through creative short videos on various social media channels.… Continue

SBP suspends the authorization of Orient Exchange Company and Best Way Exchange Company

The State Bank of Pakistan (SBP) has suspended, with immediate effect, the authorization of two Exchange Companies, namely, Orient Exchange Company-B (Pvt.) Limited and Best Way Exchange Company-B (Pvt.) Limited for three months due to serious violations of regulatory instructions.

SBP has advised both the companies to strengthen their Internal Control Functions and submit a report, of corrective measures to be taken in this regard, to SBP.… Continue

Developers’ Game Jam: GameBird Edition hackathon highlights the potential of Esports

Telenor Pakistan’s corporate accelerator, Velocity, held the closing ceremony of a month-long hackathon ‘Developer’s Game Jam: GameBird Edition’, at its 345 Campus in Islamabad. The hackathon was aimed at enabling an ever-growing community of game designers, developers, artists, and writers to come together on a common platform, to learn new skills and create video games of the future.… Continue

Pakistan and Qatar, bilateral trade volume was over US$2.73 billion in 2021

Consul General of Qatar Mishal Mohammad Ali Al-Ansari has said that Qatar was Pakistan’s thirteenth biggest trade partner and in 2021, the bilateral trade volume between the two brotherly countries was over US$2.73 billion which continues to show steady growth. “Qatar and Pakistan have well established relations which are based on shared religion, culture, abilities and geographical proximity”, he added while speaking at a meeting during his visit to the Karachi Chamber of Commerce & Industry.… Continue

In 9M2022, Pakistan IT exports have increased by 9% YoY to US$1.95bn

We re-iterate our ‘Buy’ stance on Systems Limited (SYS), one of the largest IT (Information Technology) service exporters in Pakistan with Dec-2023 Target Price of Rs620/share, offering a potential total return of 39% (including dividend yield of 2%).

SYS is a preferred pick due to (i) above average exports growth, (ii) geographical diversification and expansion, (iii) expanding workforce, (iv) cost effective IT resources of Pakistan, (v) foreign currency (FX) based revenues and cost localization, and (vi) recent acquisitions providing inorganic growth.… Continue