Pakistan’s Stock market recovery is likely to continue in the year 2024. Experts expect the benchmark KSE-100 total return index to reach 75k by Dec 2024, a potential upside of 31%. Smooth power transfer to the new government after elections, a new long-term funding program from the IMF, and an expected fall in Interest rates will be key drivers of equities in 2024.… Continue
The Pakistan Solar Association (PSA) Chairman Amir Chaudhry has said they are thrilled to announce their commitment to collaborating with the Government of Pakistan to achieve 60% renewable electricity by 2030. Addressing an event titled Let’s Grow Together on Friday, he said that the PSA recognises the significance of recent initiatives, such as the 10 GW Fast Track projects launched by the Alternative Energy Development Board (AEDB) and the Energy Ministry last year.… Continue
Economic development through the revival of business activities should be the utmost priority of the upcoming government in collaboration with all stakeholders, mainly the industries and chamber of commerce of the country, said Nasir Hussain Shah, the Former Provincial Minister for Local Government, Housing and Town Planning.… Continue
APL has demonstrated consistent progress in terms of expanding retail presence, averaging 31 new outlets annually since FY16, alongside expanding and revamping product storage facilities at a similar pace.
· APL stands as the second largest OMC in terms of storage, commanding 10.4% market share in 4MFY24 (vs.… Continue
realme, known to Pakistanis as the fastest growing smartphone brand both globally and locally is set to make a champion comeback. After the long lull in the smartphone industry, realme is at the forefront of bringing one of its chart toppers realme C51 to Pakistan.… Continue
The 3rd Annual Biological Sciences Conference, themed ‘#TrailblazingOnwards,’ celebrated the Aga Khan University’s (AKU) 40th year of excellence in research and education. This conference provided biological science researchers within the country a platform to showcase basic science and mechanistic studies in various fields of human and animal biological sciences, as well as gathered experts from the scientific community to share ideas and build collaborations in the field.… Continue
The management of K-Electric Limited held a corporate briefing session on 17th Nov’23 to discuss the financial result of FY23 and the future outlook.
· To recall, the company posted a loss after tax of PKR 30.9bn (LPS: PKR 1.12) in FY23 vis-à-vis a profit of PKR 8.5bn (EPS: PKR 0.31), mainly due to a 12% decline in contribution margins, 49% increase in exchange loss and 129% YoY increase in finance cost.… Continue
Governor State Bank of Pakistan (SBP), Mr. Jameel Ahmad, launched SBP’s strategic plan, SBP Vision 2028, for the period 2023-2028 in a ceremony held today at SBP Karachi, which was attended by the senior management of the Bank. SBP Vision 2028, the first plan after amendments in the SBP Act, highlights the central bank’s vision, mission and key goals to be pursued over the next five years.… Continue
Four hundred children with eye cancer have been successfully treated at the Al-Shifa Trust Eye Hospital in one year. Every stage, from evaluation to chemotherapy, was carried out under one roof at the Al-Shifa Trust Eye Hospital Rawalpindi. This facility is exclusive to it, said Dr.… Continue
+92Disrupt, a national tech and innovation conference designed to offer startups a comprehensive launchpad and bring together visionaries as well as innovators, recently hosted a captivating panel moderated by Khan FM, Spotify’s Artists and Label Partnerships Manager for Pakistan, Sri Lanka and Bangladesh titled ‘Pakistani Tunes on the Global RADAR’.… Continue
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said on Friday that the staff-level agreement with the IMF is a great achievement of the caretaker Finance Minister Dr.… Continue
JazzCash, Pakistan’s leading FinTech platform and Pakistan’s most active venture capital (VC) company, Fatima Gobi Ventures (FGV) announced a strategic partnership that is poised to have a massive impact on advancing the growth of startups and budding businesses in the country.… Continue
FINCA Microfinance Bank is taking initial steps to explore a potential merger or acquisition with TPL Corp, Abhi Limited, with a non-binding letter of intent, subject to the approval of the State Bank of Pakistan (SBP). The two organizations are committed to financial inclusion in Pakistan and believe combining could create a more effective force for good.… Continue
The government and all sector stakeholders have set a target to enhance pharmaceutical exports to $1 billion in the current financial year from $713 million in exports in the last financial year. This was stated by Asim Rauf, CEO of the Drug Regulatory Authority of Pakistan (DRAP), in a press briefing held on the concluding day of the 20th Pharma Asia.… Continue
The management of Amreli Steels Limited held a corporate briefing session on 16th Nov’23 to discuss the financial result of FY23 and future outlook.
- To recall, the company posted a loss after tax of PKR 678mn (LPS: PKR 2.28) in FY23 vis-à-vis a profit of 1,325mn (EPS: PKR 4.46), mainly due to depressed demand in tandem with higher borrowing cost.
Islamic Finance, guided by Shariah principles, is a values-driven approach to investment that promotes justice and prohibits unethical, speculative, and usurious practices. It plays a pivotal role in supporting the real economy and boosting the global financial system’s resilience. Since the war of the Soviet Union and the emergence of new nation-states in 1991, the Muslim-majority republics of Central Asia have witnessed the introduction of Islamic banking and finance to the region.… Continue
Solar companies, manufacturers, importers, and installers from across Pakistan are converging in the provincial metropolis to rally behind government initiatives to promote clean energy usage in the country. This gathering, organised by the Pakistan Solar Association (PSA), brings together around 400 industry members dedicated to discussing comprehensive plans to maximise solar energy utilisation for a cleaner and sustainable future.… Continue
The total liquid foreign reserves held by the country stood at US$ 12,535.5 million as of 10-Nov-2023. The break-up of the foreign reserves position is as under:
- Foreign reserves held by the State Bank of Pakistan: US$ 7,396.7 million
- Net foreign reserves held by commercial banks : US$ 5,138.8 million
- Total liquid foreign reserves : US$ 12,535.5 million
During the week ended on 10-Nov-2023, SBP’s reserves decreased by US$ 115 million to US$ 7,396.7 million due to debt repayments.… Continue
Aurora Tech Award and CIRCLE Women Association united to host an engaging and inspirational event, “Tech Tales of Triumph,” which aimed to raise awareness and invite women from Pakistan to apply for the prestigious Aurora Tech Award. Held on November 8 at the Daftarkhwan Downtown in Lahore, this symposium was a significant endeavor in the field of women’s tech empowerment.… Continue
Universal Children’s Day is an annual day of action for children, by children, marking the adoption of the convention on the rights of child. Children’s rights are human rights. But in too many places today, children’s rights are under threat. International Rescue Committee (IRC), in collaboration with National Commission on the Rights of Child (NCRC), hosted a multi-stakeholder national consultation on how Climate Change is impacting children of Pakistan in commemoration of Universal Children’s Day 2023, under the global theme of “For every child, Every Right”.… Continue
In a recent development, the Federal Cabinet has approved the imposition of 40% tax on banks’ foreign exchange earnings of the years 2021 and 2022.
This decision was made in the light of a new Section 99D introduced in the Finance Act of 2023.… Continue
Unity Foods Limited, a leading agro-products company, is the Principal Sponsor of the 7th Edition of The Future Summit, a 2-day event that brings together leading experts and thought-leaders across sectors to deliberate on key issues and opportunities posed to Pakistan.… Continue
Japan Fest 2023 was organized in Arts Council Pakistan Karachi in collaboration with Arts Council of Pakistan Karachi and Japanese Consulate, in which Consul General of Japan ODAGIRI Toshio, Mayor Karachi Murtaza Wahab, President of Arts Council Pakistan Karachi Muhammad Ahmad Shah and other personalities was presented.… Continue
Vlogging is a form art, a medium of expression, and a source of entertainment that has captured the hearts of millions. To succeed in this creative space, you need more than just a passion for storytelling; you need the tools to elevate your content above the rest.… Continue
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 the IMF loan was a short-term option to save the country from bankruptcy. He said that people with low incomes and the middle class are forced to bear the entire burden of the IMF conditions as a large portion of the economy remains undocumented.… Continue