Dr Shamshad Akhtar elected as first female PSX chairperson

Former State Bank of Pakistan (SBP) governor and ex-caretaker finance minister, Dr Shamshad Akhtar, was elected as the first female chairperson of the Pakistan Stock Exchange (PSX), the bourse said in a statement on Wednesday. She was appointed as an independent director on the board last month, was “unanimously elected” in a meeting held yesterday, making her the first female chairperson of the PSX in its 73-year history.… Continue

Amreli Steels Ltd asks government for some incentives

Amreli Steels Ltd (ASTL) is in constant talks with the government to counter smuggling, reduce under-invoicing by substandard rebar producers, removal of 5% duty on scrap and to decrease the 1.5% withholding tax on dealers.

Meanwhile, ASTL posted a NPAT of PKR503mn (EPS: PKR1.69) in 3QFY21, a sharp jump from a NLAT of PKR375mn SPLY (LPS: PKR1.26).… Continue

Dar-ul-Sukun and PayPro partner for a noble cause

Dar-ul-Sukun, one of the country’s most prestigious organizations dedicated to care of the specially-abled, and PayPro, a fast-growing digital payments solution provider, have joined hands to make it more convenient for privileged individuals and organizations from Pakistan and across the world to make their donations to the former.… Continue

Pakistan stock market continued the uptrend today

· Market continued the uptrend today, led by Power, Banks, E&P & O&GMCs other than technology stocks which saw erratic movement that dragged NETSOL and TRG down, causing the Index to go down. The index posted an overall gain of 610pts during the session and closed the session +442pts (unadjusted).… Continue

Pakistan records a massive surge of 252% in cement exports and 24 percent in local despatches during April 21

Pakistan’s Cement sector posted robust growth of 40.41 percent in April 2021. Total Cement despatches during April 2021 were 4.943 million tons against 3.52 Million Tons despatched during the same month of last fiscal year.

According to the data released by the All Pakistan Cement Manufacturers Association (APCMA), local cement despatches during April 2021 increased to 4.066 million tons from 3.271 million tons in April 2020, showing a healthy increase of 24.29 percent.… Continue

Byco honours firefighters on International Firefighters Day

To celebrate International Firefighters Day, Pakistan’s leading oil refining company, Byco Petroleum Pakistan Limited (Byco), held a ceremony at its refinery in Mouza Kund, Hub, Balochistan. Strictly observing social distancing and all other COVID-19 SOP’s, Byco awarded medals to its in-house fire-fighting team for bravery, courage, and sacrifice.… Continue

Chairman CPEC visits KCCI

President Karachi Chamber of Commerce & Industry M. Shariq Vohra presenting crest to Chairman CPEC Authority Lt. Gen. (Retd.) Asim Saleem Bajwa during his visit to KCCI on Tuesday. Chairman Businessmen Group Zubair Motiwala, Senior Vice President Saqib Goodluck, Vice President Shamsul Islam Khan and Former President Shamim Ahmed Firpo are also seen in the picture.… Continue

Governor Sindh Visits K-Electric’s BQPS-III Power Plant, Reviews Swift Progress of Unit

Governor Sindh Imran Ismail visited K-Electric’s Bin Qasim Power Station-III (BQPS-III) project to review the progress on the latest addition to Karachi’s power network. The visit followed a meeting between KE’s Senior Leadership and the Governor Sindh where KE presented an update on the company’s preparedness for Ramadan and the 2021 summer season.… Continue

Faysal Bank signs agreement with Emaar Karachi Ltd to promote Home Financing

Faysal Bank Limited signed an agreement with the leading Dubai-based real estate development company, Emaar Karachi, to provide home financing to its customers for Emaar’s current projects in the country.

Through this partnership, Faysal Islami will facilitate individual clients to avail the Shariah compliant home financing for both ready and near-to-completion apartments at Emaar Karachi with exclusive and value added benefits.… Continue

ONE Magenta vessel’s first maiden call at Hutchison Ports Pakistan

Caption: ONE Magenta Vessel’s first maiden call in Pakistan at Hutchison Ports Pakistan. Raymond Chan, GM & Head of Business Unit, HPP, and Arshad Hamid, CEO, Ocean Network Express International Pakistan along with others officials at the event.

Hutchison Ports Pakistan is the country’s first deep-water container terminal, designed to accommodate super post panamax ships.… Continue

Daily cargo handling report of Karachi port trust

The Karachi Port Trust handled 96,742 tons of cargo comprising 92,357 Tones of import cargo and 4,385 Tons of export cargo during last 24 Hrs ending at 0700 Hours.

TOTAL IMPORT CARGO:

The total import cargo of 92,357 comprised of 17,743 Tons of Containerized Cargo, 4,745 Tons of Rock Phosphate, 5,032 Tons of Soya Beans Seeds and 64,837 Tons of Oil/Liquid Cargo

TOTAL EXPORT CARGO:

The total export cargo of 4,385 tons comprised of 4,291 tons of containerized cargo and 94 Tons of Bulk Cargo.… Continue

State Bank of Pakistan and Unilever Pakistan join hands to promote Renewable Energy

Governor State Bank of Pakistan (SBP) Dr Reza Baqir has said that financing for sustainable development is the need of the hour and Financial Institutions have a crucial role in this area. He was addressing a webinar jointly hosted by SBP and Unilever Pakistan to create awareness about the SBP’s Renewable Energy Financing Scheme which has been used by Unilever to convert 30% of its factories to renewable energy.… Continue