Mian Nasser Hyatt Maggo, President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has demanded that the Federal Government should explain the rationale behind approving the installation of a new 1263MW power plant being set up by Punjab Thermal Power Ltd in Jhang; which is based on imported RNLG.… Continue

LUMS has been selected as the regional finalist for the CASE Platinum Awards 2021 in the ‘Best Practices in Diversity, Equity, and Inclusion’ category for its National Outreach Programme (NOP). The Platinum Awards are given by the prestigious Council for Advancement and Support of Education (CASE), a non-profit organisation, dedicated to educational advancement globally.… Continue

President Dr Arif Alvi has called for promoting Knowledge-Economy and digitalization of Government organizations to enhance the efficiency of work and service delivery. He said that Pakistan was blessed with immense talent and resources and the government was making serious efforts to channelize this potential in the right direction.… Continue

Total Petroleum and Lubricant sales clocked-in at 1.67mn tons in Apr’21, depicting a gigantic growth of 57% YoY (ex- FO growth of 50% YoY and 18% MoM) and 13% MoM due to seasonality factor given higher economic activity in the holy month of Ramzan and low base of Apr’20 amid country-wide lockdown last year resulting in a slowdown in sales volumes.… Continue

· Market performed well today, adding a total of 544pts on the board and closed at high note. Resolution of roll-over uncertainty in TRG helped investors take a positive view on the stock resulting in TRG hitting upper circuit. NETSOL on the other hand, remained under pressure with stock at lower circuit for the consecutive session.… Continue

Chairman Pakistan Leather Garments Manufacturers and Exporters Association (PLGMEA) Danish Khan, while expressing concern over the Eid holidays, said that the current dangerous situation and lockdown in Corona could lead to severe economic woes among traders and industrialists. Therefore, the notification of approved Eid holidays should be reviewed so that the production activities of the export-oriented industrial sector are not affected and the orders of exporters can be completed on time.… Continue

Carrefour, owned and operated by Majid Al Futtaim in Pakistan, announced today that its ‘Carrefour Now’ online shopping service will deliver the widest range of products free of charge until May 15, 2021 as the retail leader backs up its promise of providing exceptional value for all customers through every experience.… Continue

The State Bank of Pakistan will remain closed from 10th to 15th May, 2021 (Monday to Saturday) on the occasion of Eid-ul-Fitr, says an official statement released today.

 
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Meezan Bank, Pakistan’s leading Islamic bank, has recently signed an agreement with Export-Import (EXIM) Bank of Pakistan to act as its consultant for developing Islamic Trade Finance, Takaful Insurance / Guarantee Products and Services for Corporate and SME (Small Medium Enterprises) Exporters under a Technical Assistance Grant provided by Islamic Development Bank (IsDB).… Continue

The Chairman, Pakistan Footwear Manufacturing Association (PFMA), Mr Imran Malik, appealed to the Prime Minister, Chief Minister and Ministry of Commerce to reconsider their decision of announcing ten days Holidays for Eid-ul-Fitreffective from 8th May ’21 onward. He believed that it would ultimately be a complete shutdown for Footwear Industry, which is still in survival plight due to Covid-19.… Continue

Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Monday said the action of Prime Minister Imran Khan to remove Pakistani ambassador and staff to Saudi Arabia will boost the confidence of overseas Pakistanis.… Continue

Jubilee Life Insurance, the leading life insurance company in the private sector of Pakistan collaborated with Charter for Compassion Pakistan, a not-for-profit in the development sector, for the initiative of Collaborative Libraries Project (CLP). Today marks the completion of this project, under which they have established 25 libraries across different schools located in the underserved areas of Karachi.… Continue

The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has showed its displeasure over yet another set of SOPs and Public Holidays on account of Eid-Ul-Fitr announced by NCOC without consulting business, industrial, and trade community of Pakistan. 

Mian Nasser Hyatt Maggo, President FPCCI, has demanded that industries and markets should only be closed for 3 days on account of Eid-Ul-Fitr at max; otherwise, there will be irreversible loss to already struggling businesses and huge shortfall in tax collection will further decelerate the economic activity.… Continue

The management of HUBC held a corporate briefing session today to discuss the company’s performance post release of 3QFY21 results.

To recall, during 3QFY21 the company posted a profit after tax (PAT) of PKR 8,576mn (EPS: PKR 6.61), up by 19% YoY compared to PKR 7,201mn (EPS: PKR 5.55) during same period last year.… Continue

The Karachi Port Trust handled 279,547 tons of cargo comprising 218,552 Tones of import cargo and 60,995 Tons of export cargo during last 48 Hrs ending at 0700 Hours.

TOTAL IMPORT CARGO:

The total import cargo of 218,552 comprised of 134,880 Tons of Containerized Cargo, 7,621 Tons of Bulk Cargo, 3,558 Tons of Ammonium Sulphate, 11,961 Tons of Rock Phosphate, 9,358 Tons of Soya Beans Seeds and 51,174 Tons of Oil/Liquid Cargo

TOTAL EXPORT CARGO:

The total export cargo of 60,995 tons comprised of 60,995 tons of containerized cargo.… Continue