Northern Nigeria fuel tanker explosion claims over 140 lives
MAJIYA (Nigeria), October 17 2024: A devastating explosion killed more than 140 people in northern…
Northern Nigeria fuel tanker explosion claims over 140 lives
MAJIYA (Nigeria), October 17 2024: A devastating explosion killed more than 140 people in northern Nigeria after a fuel tanker overturned in the town of Majiya, Jigawa state, on Tuesday. The tragic incident unfolded when the tanker, attempting to avoid another vehicle, crashed, spilling fuel. As fuel gushed out, residents gathered to collect it, unaware…
SBP Unveils annual report on Pakistan’s economy
KARACHI, October 17 2024: The State Bank of Pakistan (SBP) released the Annual Report on the State of Pakistan’s Economy for the fiscal year 2023-24 today. According to the Report, Pakistan’s macroeconomic conditions improved, supported by stabilization policies, successful engagement with the IMF, reduced uncertainty, and a favourable global economic environment. The increase in domestic…
E-Commerce to boost sindh’s cultural heritage and support artisans
Karachi, October 17 2024: Provincial Minister for Industries and Commerce Jam Ikramullah Dharejo has said that the launch of Sindh Small Industries Corporation’s e-commerce website will promote Sindh’s cultural heritage and encourage artisans associated with this sector. He said this today while talking to the media on the occasion of the launch of Sindh Small…
Gilgit-Baltistan gets 3rd Nestlé for healthier kids
SHIGAR (GILGIT-BALTISTAN), October 17 2024: Nestlé Pakistan inaugurated the Nestlé for Healthier Kids (N4HK) room at the Government Primary Boys School Shigar, making it the third N4HK room in Gilgit-Baltistan, to foster and promote nutrition awareness in the region. The N4HK program is part of Nestlé’s global nutritional awareness initiative to ensure that children understand…
Bank Alfalah reports 23.5% growth in profit
Karachi, October 17 2024: The Board of Directors of Bank Alfalah Limited, in its meeting held on October 17, 2024, approved the Bank’s financial results for the nine months ended September 30, 2024. Bank Alfalah reported a profit after tax of PKR 33.643 billion, an improvement of 23.5% over the same period last year (SPLY),…
Codebase technologies and abhi join forces to combat global financial exclusion
Dubai, October 16, 2024: Codebase Technologies is proud to announce its strategic partnership with Abhi, a leading financial wellness platform in the MENAP region, to introduce innovative Earned Wage Access (EWA) solutions across multiple geographies through Codebase Technologies’ Digibanc platform. This collaboration signifies a major milestone in advancing global financial inclusion, offering businesses cutting-edge tools…
Pakistan’s biggest health sector event to be held from Oct 17-19
KARACHI, October 16 2024: The 21st edition of Health Asia will take place from October 17 to 19 at the Expo Center in Karachi. Provincial Minister for Health Dr Azra Pehchoo will be the chief guest at the event.The event will also host various seminars on various issues of healthcare and medical practices, such as…
TECNO unveils the Tecno 30 pro max
KARACHI, October 14 2024: The technology is improving day by day in a digital era. However, the great brand tecno has decided to launch the best featured mobile phone to its costumers. Hence, the phone has the best specifications as the buyer desires, Its transformer-themed design strategy is the main thing that makes it look…
Nasir Shah presides meeting on CSR initiatives
KARACHI, October 14 2024: Sindh Energy Minister Syed Nasir Hussain Shah has said that all the companies working in Thatta district regarding renewable energy have to improve their CSR initiatives for the welfare of the local people, a foundation will be established comprising of Sindh government, elected representatives, energy department and representatives of companies to…
Risk of Clashes in Karachi: Section 144 Imposed Citywide for 5 Days
Karachi, October 13, 2024 – In light of the potential risk of clashes, the district administration has imposed Section 144 across the city, enforcing a complete ban on rallies and protests. This restriction has been implemented immediately and will remain in effect for 5 days, aiming to maintain law and order and reduce the risks…
SME Banking: SBP Launches “Challenge Fund”
KARACHI: The State Bank of Pakistan (SBP) has announced to launch of a “Challenge Fund” for technology adoption & digitalization of SME banking to support innovative solutions for SME banking in the country. The SBP has been taking measures to facilitate banks in improving access to finance for the SME sector and as a part…
SBP Implements new reporting requirements for authorized dealers
Karachi, October 11, 2024: The State Bank of Pakistan (SBP) has announced significant updates to the reporting requirements for Authorized Dealers in the foreign exchange market, following an amendment under Para 33 of Chapter 12 of the Foreign Exchange (FE) Manual. Effective immediately, Authorized Dealers are now required to submit specific statements . Appendix V-20…
Finance minister chairs key meeting on state-owned enterprises
Islamabad, October 11, 2024: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb presided over a crucial meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs) today at the Finance Division. The meeting focused on enhancing the management and categorization of state-owned entities to improve their efficiency and effectiveness. A significant agenda item was the…
President Zardari advocates for enhanced railroad connectivity with Turkiye
Ashgabat, October 11, 2024: During a pivotal meeting with Numan Kurtulmus, Speaker of the Turkish Parliament, President Asif Ali Zardari emphasized the importance of improving railroad connectivity between Pakistan and Turkiye as a means to enhance trade, economic cooperation, and people-to-people contacts. The discussion took place on the sidelines of the International Forum on “Interrelation…
SCO Summit to boost business opportunities
Islamabad, October 11, 2024: In a meeting held today in Islamabad, Barrister Danyal Chaudhry, Parliamentary Secretary on Information and Broadcasting, expressed optimism about the upcoming Shanghai Cooperation Organization (SCO) summit, highlighting its potential to strengthen business ties between China and Pakistan. The meeting included representatives from the Pakistan Overseas Chinese Association and the China-Pakistan Youth…
ECC Approves dditional export of 0.5 million metric tonnes of surplus sugar
Islamabad, October 11, 2024: In a meeting chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, the Economic Coordination Committee (ECC) of the Cabinet approved the export of an additional 0.5 million metric tonnes (MT) of surplus sugar. The decision follows a thorough review of existing sugar stocks, domestic consumption, and the anticipated…
Pakistan and Saudi Arabia strengthen economic ties through major corporate collaborations
Pakistan, October 11 2024: In a significant boost to Pakistan-Saudi economic relations, prominent Pakistani companies, including Citi Pharma Limited and Pakistan Cables, have entered into strategic agreements with Saudi firms. These partnerships, forged as part of the growing economic cooperation between the two nations, aim to enhance industrial capabilities and boost trade across key sectors….
SBP released its annual report in the national payment ecosystem during the Fiscal Year 2023-24
KARACHI, October 11 2024: The State Bank of Pakistan (SBP) has released its annual report highlighting the significant advancements in the national payment ecosystem during the Fiscal Year 2023-24. The report underscores the remarkable growth in digital payments, driven by the increasing availability and adoption of digital payment channels, reflecting a growing reliance on these…
Pakistan and Saudi Arabia to deepen economic cooperation
ISLAMABAD, October 10 2024: Pakistan and Saudi Arabia have reaffirmed their commitment to enhancing cooperation in key areas such as the economy, agriculture, mining and information technology. Both sides underlined the need to work together to build a prosperous and peaceful future for the region as well as for the Islamic World. This was discussed…
BankIslami strengthens its national footprint with ‘500 Branches’ milestone
Karachi, October 10, 2024: BankIslami Pakistan Limited, a leading financial institution, announces a significant milestone in strengthening its presence with the opening of its 500th branch in Nankana Sahib. This achievement reflects the bank’s unwavering commitment to delivering equal services, and exceptional customer care, ensuring complete financial security, upholding the core principles of the Islamic…
Security Papers Limited hosts breast cancer awareness session
KARACHI: October 10, 2024: Security Papers Limited (SPL) hosted a breast cancer awareness session at its head office in Karachi, in collaboration with Indus Hospital & Health Network. The event aimed to educate and empower female employees about the importance of breast health and early detection. The session, led by Dr. Nazia Lodhi Breast &…
Banks Directed to Enhance CCTV Security Measures by 2025
KARACHI, October 10, 2024: The Central Bank of Pakistan has announced to revision of the installation guidelines for Close Circuit Television (CCTV) cameras at bank branches. The updates follow extensive feedback from stakeholders and aim to standardize security protocols in banks and microfinance banks (MFBs). Revised Guidelines are as follows: The new directives, outlined in…
Pakistan Autos: Car sales rose by 24% YoY and 18% MoM in Sep 2024
KARACHI, October 10 2024: Car sales in Pakistan clocked in at 10,297 units in Sep 2024, reflecting a 24% YoY and 18% MoM increase in sales, as reported by PAMA. The increase in car sales is driven by a backlog of Suzuki cars which were delivered this month. This takes 1QFY25 sales to 27,585 units…
Dagha urge bold rate cut to stimulate private sector amid single-digit inflation
KARACHI, October 10 2024: President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Jawed Bilwani and Chairman Policy Research & Advisory Council (PRAC) Mohammad Younus Dagha have advised the Central Bank to reduce the policy rate by at least 300 basis points in the next Monetary Policy Committee (MPC) meeting in line with a notable…
New avenues of PAK KSA coop. abdul aleem khan Pak Saudi business forum
Islamabad, October 10 2024: Under the leadership of Saudi Arabia’s Investment Minister Sheikh Khalid Bin Abdul Aziz Al Faleh, 130 investors attended the Pak Saudi Business Forum held here in Islamabad.Addressing the Business Conference, Federal Minister for Board of Investment, Privatization and Communications Abdul Aleem Khan said that mutual relations between Saudi Arabia and Pakistan…
Saudia unveils first and business class check-in lounge at Jeddah Hub passengers
Saudia Arabia, October 10 2024: The national flag carrier of Saudi Arabia, has recently announced the inauguration of its new First and Business Class Check-In Lounge at Terminal 1 of King Abdulaziz International Airport in Jeddah. This state-of-the-art facility is designed to enhance the travel experience for Saudia’s premium guests, including travellers from Pakistan, as…
Minister of Commerce encourages women-led businesses
ISLAMABAD, October 10 2024: The president of the Islamabad Women’s Chamber of Commerce and Industry (IWCCI), Samina Fazil, stated Thursday that businesswomen are very pleased with the stabilization of the economy because the country is moving in the right direction. She said that we have high expectations for Federal Minister of Commerce Jam Kamal Khan,…
Pakistani IT exporters eye Singapore’s market
KARACHI, October 10 2024: Pakistani IT companies exporting IT and IT-enabled services are exploring their potential in one of Singapore’s emerging markets to enhance the country’s penetration and exports in the Asian region, it has been learned. In this regard, a delegation of leading IT companies under TechDestination Pakistan, Ministry of IT and Telecommunication (MoITT)…
IPPs agreement revision/termination, Payouts to be impacted
KARACHI, October 10 2024: The Government of Pakistan plans to agree with five power producers to terminate their Power Purchase Agreement (PPA) prematurely. This includes two listed names, i.e., the base power plant for Hub Power (HUBC) and Lalpir Power Limited (LPL), one indirect listed name, Roush Power (through Altern Energy), and two unlisted players,…
DigiMAP condemns journalist inclusion in NACTA schedule
KARACHI, October 9 2024: The Digital Media Alliance of Pakistan (DigiMAP) strongly condemns the inclusion of senior journalists Farooq Mehsud, Ishtiaq Mehsud, and Muhammad Aslam in the Schedule 4th list of the National Counter Terrorism Authority (NACTA). DigiMAP President Sabookh Syed voiced his strong disapproval, stating that this marks one of the darkest times for…
President urges businesses to invest in stock exchange calls for rationalizing interest rates
ISLAMABAD, October 9 2024: To improve the country’s economy, President Asif Ali Zardari has called for providing a business-friendly environment by further rationalizing the interest rate, providing cost-effective energy, and supporting export-oriented industries. He urged the business community to invest in the country’s stock exchange, besides focusing on industries that support small and medium enterprises…
Pakistan dispatches first humanitarian assistance to lebanon
Islamabad, October 9 2024: The Prime Minister of Pakistan’s directives to provide humanitarian assistance to war-ravaged people of Lebanon. On the direction of the Prime Minister, NDMA arranged a special flight for 79 stranded Pakistanis from Lebanon on 9th Oct 2024 and arrived at Jinnah International Airport, Karachi. Upon their arrival, the evacuees were welcomed…
Global peace summit hosts first diplomatic round table on gaza crisis
KARACHI, October 9 2024: The Global Peace Summit (GPS) is committed to fostering collaborative solutions to the world’s most pressing challenges, aiming for a future characterized by peace, justice, and security for all. In this spirit, the Summit convened the “First Round Table on Humanitarian Cooperation on the Gaza Crisis,” where a diverse group of…
Bank Alfalah partners with cancer foundation hospital to support breast cancer patients
Karachi, October 9, 2024: Bank Alfalah has partnered with Cancer Foundation Hospital to provide life-saving treatment to women battling breast cancer. As part of this collaboration, Bank Alfalah and Roche Pakistan have contributed a total of PKR 10.75 million towards medication expenses and free-of-cost treatment for five breast cancer patients, ensuring they receive comprehensive treatment….
SBP extends financing facility up to Rs. 500 million for SMEs
KARACHI, October 9 2024: The State Bank of Pakistan has extended the financing limit for Small and Medium Enterprises for up to Rs. 500 million from a single bank/ DFI or all banks & DFIs. However, banks & DFIs are allowed to deduct the liquid assets (encashment value of bank deposits, certificates of deposit/ investment,…
Federal minister for commerce pledges revival of Pakistan’s cotton industry in critical meeting with ginners association
ISLAMABAD, October 09 2024, In a pivotal meeting, Federal Minister for Commerce, Jam Kamal Khan, held discussions with the Pakistan Ginners Association, led by its Chairman, Dr. Jassu Mal, to address the challenges facing Pakistan’s cotton industry. Once a global leader in cotton production and exports, Pakistan now faces the harsh reality of importing raw…
KCCI to remain open for full day every Friday
KARACHI: October 9 2024, To better serve the business & industrial community, the Management of the Karachi Chamber of Commerce & Industry (KCCI) has decided to keep all its departments fully operational every Friday for a full day, instead of observing a half-day schedule as per past practice. KCCI members can now avail of various…
Sindh government to expand seed production in sindh seed corporation
KARACHI: October 9 2024, The Sindh government has decided to extend the production of seeds to include fruit, oilseeds, and vegetables in the Sindh Seed Corporation. This was discussed in a review meeting chaired by the Minister of Agriculture, Sardar Muhammad Bux Mahar, regarding the introduction of new reforms in the corporation. The meeting was…
NBP partners with huawei to establish national cloud data center
Karachi: October 9, 2024. The National Bank of Pakistan has signed a MoU with Huawei Technologies Pakistan (PVT) to develop a state-of-the-art National Cloud Data Center. The MoU was formalized during the Huawei Connect 2024 Global Conference. This collaboration aims to strengthen NBP’s digital infrastructure by deploying cutting-edge cloud services in a Tier-3 certified data…
SBP announce extension for encashment of prize bonds upto Dec 2024
KARACHI: October 8 2024, The government of Pakistan has extended the last date for encashment/replacement/conversion of Rs. 40,000/-, Rs. 25,000/-, Rs. 15,000/- & Rs. 7,500/- denomination National Prize Bonds (bearer) up to December 31, 2024. Accordingly, SBP has advised all branches to accept requests for encashment/conversion/redemption of cited denominations from the general public till December…
Pakistan received highest ever $8.8 bln remittances in first quarter of FY25
KARACHI: October 8, 2024: Pakistan’s worker remittances in September 2024 totalled US$2.85bn, up 29% year over year and the highest amount ever received in September. In 1QFY25, remittances increased by 39% year over year to US$8.8bn. These stronger inflows will help Pakistan maintain PKR stability and contain the current account deficit. Highest-ever quarterly remittances received…
The premier textile and leather event in Pakistan
KARACHI: October 08, 2024: The TEXPO 2024, the flagship event for the Textile and Leather industry of Pakistan, is set to take place from October 23rd to 25th, 2024, at the Expo Centre Karachi. This highly anticipated exhibition will showcase the country’s vibrant textile and leather sectors, bringing together over 250 leading companies from across…
Increasing exports essential for Pakistan’s economic development
ISLAMABAD: October 8, 2024: Federal Minister for Commerce Jam Kamal Khan said Pakistan’s economic future depends significantly on a notable increase in exports. While addressing an event at the Governance Innovation Lab on the theme of “Export-Led Economy,” he emphasized that without boosting our exports, the country’s economic sovereignty cannot be achieved. He stressed the…
Energy Minister decided to crack down on those issuing fake test reports
KARACHI, October 8, 2024: Sindh Minister for Energy, Development and Planning Syed Nasir Hussain Shah has said that a strict crackdown should be taken against those who fake the wiring test report and Work Completion Report (WCR) of the Power Department and cases should be registered against the involved persons should be arrested. In this…
Breifing of Pak sovereign wealth fund & financial investment
Islamabad: October 8 2024, there was a major development in the investment sector according to which the Pakistan Sovereign Wealth Fund will be established through heavy investment in the financial industry. In this regard, Alvarez Marsal Middle East group will float financial investment in Pakistan and there will be a huge investment in the financial…
UgAi app launched for direct purchasing of fertilizer
Karachi, October 08, 2024: Engro Fertilizers has launched “UgAi”-the first integrated agri e-commerce platform of Pakistan, to offer farmers relief by enabling direct purchase of fertilizers at official prices from the Company. In the first phase, the free UgAi app has launched for farmers in Sindh, with plans for a nationwide rollout shortly. With the…
American Business Council announces new executive committee
Karachi, October 8, 2024: The American Business Council of Pakistan (ABC) has announced its new Executive Committee for 2024-2026 which will play a pivotal role in fostering strong bilateral trade and investment ties between the United States and Pakistan. Kamran Ataullah Khan, CEO & Country Manager of DuPont Pakistan Operations (Pvt) Ltd, has been elected…
SBP Sets up New Tier-3 Data Center
KARACHI: On 08 October 2024, the State Bank of Pakistan (SBP) established its state-of-the-art Tier-3 data centre, the first of its kind in Pakistan within its vicinity at head office, according to officials. Previously, the SBP Karachi Campus comprised two Data Centers: the Main Data Center (MDC) located in the Main building. Ø Backup Data…
Dharejo directs to expedite work on Combined Effluent Treatment Plants
Karachi, October 8. 2024: Provincial Minister for Industries and Commerce Jam Ikramullah Dharejo has directed the officers to expedite work on Combined Effluent Treatment Plants (CETPs) so that industries’ waste materials may be disposed of properly. This he said while presiding over a meeting here in his office. On this occasion, Secretary Industries and Commerce…
Sindh Government Decides to Issue Benazir Hari Cards Through Sindh Bank
KARACHI: 07 October 2024, An important meeting was held under the chairmanship of Sindh Agriculture Minister Sardar Muhammad Bux Khan Mahar, attended by Agriculture Secretary Rafiq Ahmed Buriro, Project Director SWAT Project Liaquat Ali Bhutto, Director Generals, representatives of Sindh Bank, and other officials. The meeting focused on briefing the provincial minister regarding the issuance…
Women Chamber Delegation Meets Commerce Minister, Discusses Empowerment and Export Initiatives
Islamabad, October 7, 2024 — A delegation from the Islamabad Women Chamber of Commerce & Industry (IWCCI), led by Founder President Samina Fazil, met with Federal Minister for Commerce Jam Kamal Khan to discuss initiatives focused on women empowerment and export growth. The minister emphasized the need for actionable proposals to boost women’s involvement in…
PMI collect 431 kg of waste in beach cleaning activity
KARACHI: October 7, 2024, Philip Morris (Pakistan) Limited (PMPKL), in collaboration with the Entrepreneurship Youth Development Society (EYDS), organized the “Stride for Sustainability” beach cleanup and awareness walk at Clifton Beach, Karachi. During the event, participants were divided into three teams, each tasked with collecting the most recyclable waste along a 1.5 to 2 km…
Jam Kamal Sets Sights on Expanding Rice Exports, Tackles EU Food Safety Standards
ISLAMABAD: 07 October 2024, In a meeting with the Rice Exporters Association of Pakistan (REAP), Federal Minister for Commerce Jam Kamal Khan called for measures to enhance Pakistan’s rice exports and ensure compliance with European food safety standards. As Pakistan holds a 25% share of the European rice export market, significantly outpacing India’s 16%, the…
Saudia Promoted Global Connectivity at Spectacular Saudi Event
Saudi Arabia: On 07 October 2024, Saudia, the national flag carrier of Saudi Arabia, announced its participation in the Spectacular Saudi event, organized by the Saudi Travel Authority. This nine-day exhibition took place in Mumbai, India, and featured various cultural and promotional activities designed to bring a piece of Saudi Arabia to India, offering a…
Rava Documentary Films screens “Goddess of Hinglaj – 51 Shakti Peeth” to a Full House atthe Arena Cinema
Karachi, Pakistan – October 04, 2024 – Rava Documentary Films hosted a successfulscreening of their latest documentary, “Goddess of Hinglaj – 51 Shakti Peeth”, at The ArenaCinema in Bahria Tower. The event drew a significant crowd from every walk of life whichincluded media personnel, selected members of the Hindu community, and representativesfrom government and civil…
NBP won the ADB Disability Inclusion Champion Award 2024
KARACHI: 05 October 2024, The National Bank of Pakistan has won the prestigious Disability Inclusion Award 2024 from the Asian Development Bank (ADB). This is a historic moment, as NBP is the first bank from Pakistan to receive this award, competing against top banks from Asia and the Pacific. This achievement positions NBP as a…
KCCI seeks 2 percent reduction in SESSI’s social security contribution
KARACHI: 04 October 2024, President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Jawed Bilwani has urged the Sindh government to look into the possibility of reducing the rate of SESSI’s Social Security Contribution by at least 2 per cent and freezing the same so that the substantial burden passed on to the industries every…
U.S. Deputy Chief of Mission Explores Lahore’s Rich and Diverse Culture on Inaugural Visit
Lahore: 04 October 2024, — On her inaugural visit to Lahore, U.S. Deputy Chief of Mission (DCM) Natalie Baker, joined by U.S. Consul General Kristin Hawkins, explored how U.S.-Pakistan partnerships have been strengthening bilateral trade and investment, cultural preservation efforts, and educational opportunities for youth in Punjab. DCM Baker met with representatives of U.S. businesses to…
Ismail Global and Legal Aid Society Join Hands to Combat Gender-Based Violence
Karachi, 4th October 2024: In a significant step towards enhancing access to justice for vulnerable communities, Ismail Global and the Legal Aid Society (LAS) have signed a Memorandum of Understanding (MoU) to provide free legal assistance to survivors of Sexual and Gender-Based Violence (SGBV). This collaboration aims to enhance access to justice for vulnerable communities, including…
KCCI seeks 2 percent reduction in SESSI’s social security contribution
KARACHI: 04 October 2024, President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Jawed Bilwani has urged the Sindh government to look into the possibility of reducing the rate of SESSI’s Social Security Contribution by at least 2 per cent and freezing the same so that the substantial burden passed on to the industries every…
The visit of Malaysian Prime Minister to Pakistan will promote mutual trade: Atif Ikram Sheikh
ISLAMABAD: 04 October 2024, President Federation of Pakistan Chambers of Commerce and Industries Atif Ikram Sheikh has said that the visit of the Malaysian Prime Minister to Pakistan will promote mutual trade, bilateral economic cooperation, trade۔ Agreement to enhance cooperation in key sectors and address trade imbalances is welcome. There is a lot of scope…
Opening of the First Pakistan International Date Palm Festival, 2024
KARACHI: On 04th of October, 2024, in Karachi, His Excellency Murad Ali Shah, Chief Minister of Sindh, Islamic Republic of Pakistan, inaugurated the First Pakistan International Date Palm Festival, in the presence of H.E. Kamran Tessori, Governor of Sindh and H.E. Mr Hamad Obaid Ibrahim Salem Al Zaabi, United Arab Emirates Ambassador in Islamabad, and…
Important Meeting Held At Pakistan Association Hotels
KARACHI: 03 October 2024, The Pakistan Hotel Association (PHA) recently held an important meeting where the newly elected members for the 2024-2026 term were announced. In a momentous event, the outgoing Chairman, Mr. Mustansir Zakir, CEO of Hashwani Hotels, along with his team, graciously welcomed the incoming Chairman, Mr. Shakir Abu Bakar Bhura, CEO of…
Pakistan and Malaysia Sign Four Key MoUs to Boost Trade Relations
ISLAMABAD, October 3, 2024: Federal Minister for Commerce, Jam Kamal Khan, witnessed the signing of four significant MoUs between Pakistan and the Malaysian business community in Islamabad. Fauji Meat Limited and NSK signed a Letter of Intent (LOI) for a profit-sharing partnership in the distribution, wholesale, and retail of meat. Gobi VC Investment Fund committed…
JazzCash Expands Bill Payment Options for Karachi Water & Sewerage Corporation (KW&SC) Customers
Karachi, Pakistan – October 3, 2024 – JazzCash has expanded its digital payment options for the 1.2 million customers of the Karachi Water & Sewerage Corporation (KW&SC). Customers can now pay their KW&SC bills via the corporation’s website (https://kwsc.gos.pk/) or its mobile app using the JazzCash payment gateway. This expands the existing payment options, which…
Al-Ghazi Tractors Limited launches high-performance, fuel-efficient NH-850 tractor
Lahore, October 3, 2024: Al-Ghazi Tractors Limited launched its latest product the New Holland NH-850. The 85-horsepower engine tractor is designed to set new standards in modern farming.The exclusive launch event, hosted at Pearl Continental, Lahore, was graced by the chief guest, Director General Strategic Project of Green Initiatives (Pvt) Limited, Maj General Shahid Nazir….
CCP Hearing on PTCL-Telenor Merger Continues
Islamabad, October 2: The Competition Commission of Pakistan (CCP) is actively progressing with the Phase II Merger Review of PTCL’s proposed acquisition of 100 per cent shareholding in Telenor Pakistan (Private) Limited (TP) and Orion Towers Private Limited (OT). The hearing was conducted by CCP Chairman, Dr. Kabir Ahmed Sidhu, with the presence of members…
Digitalization to drive Financial Services and Economic Development: Governor SBP
KARACHI: 02 October 2024, Governor of the State Bank of Pakistan, Mr Jameel Ahmad, has stated that rapid technological change has not only enabled banks to offer innovative financial services to customers but also empowered regulators to ensure compliance effectively and efficiently through advanced data collection and processing capabilities. He delivered his keynote address at…
United Business Group welcomes COAS General Asim Munir’s reassurance on economic revival
KARACHI: 02 October 2024, The leaders of the United Business Group (UBG) Mr Zubair Tufail, Khalid Tawab, Hanif Gohar, Syed Mazhar Ali Nasir, Malik Khuda Bakhsh and Momin Ali Malik have welcomed Chief of Army Staff General Asim Munir’s reassuring statements during his interactive session with Karachi’s business community. His words brought significant relief amidst…
Alert for the Investing Public: Beware of Online Trading Frauds
Karachi, October 02, 2024 – Pakistan Stock Exchange Limited (PSX) alerts the investing public regarding the surge in fraudulent activities through different social media platforms. Some illegal social media groups and forums are using AI technology and conventional methods to entice the investing public to join in or fill in forms through WhatsApp groups, Facebook/…
The Annual General Meeting of All Pakistan Fruit & Vegetable Exporters Importers and Merchants Association
KARACHI: 2 October 2024, The Annual General Meeting of All Pakistan Fruit & Vegetable Exporters Importers and Merchants Association was held on 28th Sept. 2024 at a private hotel in Karachi. The meeting was presided over by Patron-in-Chief PFVA Waheed Ahmed. During the meeting, the newly elected office-bearers & executive members were announced for 2024-26….
Chinese business delegation visited the Trade Development Authority of Pakistan
Karachi: 1 October 2024, On the occasion of China’s National Day, a high-profile Chinese business delegation visited the Trade Development Authority of Pakistan (TDAP) Headquarters, Karachi to discuss trade facilitation measures between Pakistan and China including the development of a large-scale wholesale market in Karachi, improved logistics infrastructure, seamless customs connectivity between the two countries,…
NVESTMENT SAFE, JVs & MORE BUSINESS IN ALL SECTORS
Moscow – October 01: Addressing the opening session of the 3-Day Pakistan Russia Trade & Investment Forum in Moscow, Federal Minister for Board of Investment, Privatization and Communications Abdul Aleem Khan has said that in Pakistan investments are fully secured and safe, promotion of business is going on in all sectors and especially there is…
MR. YAKOOB H. KARIM HAS BEEN ELECTED UNOPPOSED ANDHAS TAKEN CHARGE AS PRESIDENT OF HUB CHAMBER OF COMMERCE & INDUSTRY
Karachi: 1 October 2024, The Hub Chamber of Commerce & Industry in a Press Release issued here today announced that Mr Yakoob H. Karim, Mr Mohammad Younus Dagha and Mr Irfan Amanullah have been elected unopposed for the offices of President, Senior Vice President and Vice President respectively and have taken the charge of their…
Pakistan’s Inflation Hits 44-Month Low, CPI Falls to 6.9% Year-on-Year
Islamabad, October 1, 2024 – Pakistan’s Consumer Price Index (CPI) has dropped to 6.9% year-on-year in September, marking the lowest inflation rate in 44 months. This decline brings relief to consumers and businesses following prolonged inflationary pressures that have impacted household budgets and production costs. Several factors have contributed to this disinflationary trend. A high…
Govt initiated MTBs buyback operation
Karachi: 30 September 2024, In an unprecedented move, the Government of Pakistan has initiated Monday a T-Bill buyback program, repurchasing PKR 351bn worth of T-bills against a target of PKR 500bn. This bold move is expected to strategically reprofile the government’s debt, transitioning towards longer maturities while lowering the burden of debt servicing costs. While…
ADJUSTMENT OF THE PRICES OF PETROLEUM PRODUCTS TO BE EFFECTIVE FROM 1 OCTOBER, 2024
Karachi: 30 September 2024, The prices of Petroleum Products have continued to fluctuate in the international market in the last fortnight. Domestic consumer prices are required to be adjusted accordingly. The Oil and Gas Regulatory Authority (OGRA) works out the consumer prices for the upcoming fortnight, based on international prices and exchange rate variations. However,…
PRIVATIZATION SHOULD BE COMPETITIVE & SUCCESSFUL: A. ALEEM KHAN225TH MEETING OF PCB
Islamabad: 30 September 2024, In the important meeting of the Privatization Commission Board under the chairmanship of Federal Minister for Privatization, Board of Investments & Communications Abdul Aleem Khan, it has been decided to form a Negotiating Committee for the privatization of institutions. Federal Minister for Privatization Abdul Aleem Khan has directed that the process…
Abdul Samad Budhani Elected Chairman of PCDA
KARACHI, September 30, 2024: Abdul Samad Memon (Budhani) has been elected unopposed as the Chairman of the Pakistan Chemists and Druggists Association (PCDA) for the 2024-2026 term. The announcement was made by the PCDA Election Committee following a smooth and uncontested election process. In addition to Abdul Samad Budhani’s appointment, the members have also elected…
Pakistan Economy – Pakistan GDP grew 3.07% in 4QFY24; FY24 GDP grew by 2.52%, higher than previous estimates
Karachi: On 30 September 2024, the National Accounts Committee (NAC) released GDP estimates for 4QFY24, showing growth of 3.07% YoY, taking full-year (FY24) growth to 2.52%, higher than provisional estimates of 2.38% YoY released by the Government on May 21, 2024. In 4QFY24, agriculture grew 6.76%, industry 3.59%, and services 3.69%. Agriculture: Growth in Agriculture…
ROUND TABLE OF 25 CHINESE COMPANIES IN BEIJING FOR PAKISTAN
Beijing, China. September 27: As many as, 25 major Chinese investment companies have expressed their deep interest in investing heavily in Pakistan. In a Business Roundtable Conference of Chaoyang District, Beijing including Agriculture, Automobile, Electrical alliances, Pharmaceuticals, Logistics, Medical equipment and technology companies are included. Federal Minister for Board of Investment, Privatization & Communications Abdul…
The Chairman of the Association of Builders and Developers have expressed concern over the increasing encroachments
Karachi, September 27, 2024: The Chairman of the Association of Builders and Developers (ABAD), Asif Samsam, and Senior Vice Chairman Ibrahim Habib have expressed concern over the increasing encroachments, the sudden rise in service charges and taxes on the sale, purchase, and transfer of plots, and the use of KDA residential plots in Clifton for…
Commerce Minister Chairs Inaugural IT & E-Commerce Sectoral Council Meeting
Federal Minister for Commerce Jam Kamal Khan chaired the first meeting of the IT & E-Commerce Council at the Ministry of Commerce, aimed at accelerating the growth of Pakistan’s IT and e-commerce sectors. Minister of State for IT and Telecommunication Shaza Fatima Khawaja joined the meeting virtually. During the session, Minister Jam Kamal Khan asked…
TOURISM IS AN INVISIBLE EXPORT AND ITS FOREIGN EXCHANGE EARNINGS
Karachi: 26 September 2024, The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) celebrated World Tourism Day 2024-25 at the FPCCI President Secretariat in Islamabad on September 25, 2024. The event featured prominent international guests, including H.E. Ms. Harerimana Fatou, Ambassador of Rwanda and High Commissioner-Designate of the Republic of Rwanda, Mr. Ito Takeshi,…
Interloop Limited (ILP): 4QFY24 EPS at Rs1.87 down 75% YoY and 14% QoQ – lower than industry expectations
Interloop Limited (ILP) announced its 4QFY24 result today, where the company recorded an unconsolidated earnings of Rs2.6bn (EPS of Rs1.87). This takes FY24 earnings to Rs15.8bn (EPS of Rs11.25) down 11% YoY as compared to FY23 profit of Rs20.2bn (EPS of Rs14.39). The earnings came lower than expectations for 4QFY24 due to lower than expected…
SITE ASSOCIATION ELECTS NEW OFFICE BEARERS FOR 2024-26
KARACHI: 26 Septmeber 2024, The Chairman of the Election Commission of the SITE Association of Industry (SAI), Muhammad Tariq Yousuf, has announced the unopposed election of Ahmed Azeem Alvi as President, Khalid Riaz as Senior Vice President, and Muhammad Riaz Dhedhi as Vice President for the 2024-26 term. These appointments were confirmed at the 60th…
Govt to Reactivate 16 Sectoral Councils to Boost Pharma Industry Growth
Islamabad: 25 September 2024, Minister for Commerce Jam Kamal Khan while reaffirming the government’s unwavering commitment to revitalizing and advancing our pharmaceutical industry on Wednesday, said that the Ministry of Commerce is reactivating 16 sectoral councils to prepare comprehensive plans and policies for industrial development and trade promotion in the country.Addressing the 7th Pharma Export…
Systems Limited wins Top IT Services Exporter Award at the P@SHA ICT Awards 2024
Karachi , 25th Sep 2024: Upholding its legacy as a distinguished global systems integrator, Systems Limited has once again marked its success at the P@SHA ICT Awards 2024 by securing the esteemed Top IT Services Exporter Award.The award was presented by Shaza Fatima Khawaja, State Minister for Information Technology and Telecommunication, and proudly received by…
Consul General of Italy in Karachi attended the unveiling of advanced Italian technological innovation in diesel engines
Karachi: 25 September 2024, Mr Danilo Giurdanella, the Consul General of Italy in Karachi attended the unveiling of advanced Italian technological innovation in diesel engines – the launch of R24 FPT Engines in Karachi; The new series is aimed at providing innovative solutions to industries and businesses across Pakistan to reduce their carbon footprint and…
Abdullah Zaki appointed as Member of KPT’s Board of Trustees
KARACHI: 24 September 2024 Former President of Karachi Chamber of Commerce & Industry (KCCI) Abdullah Zaki has been appointed as a Member of the Board of Trustees of Karachi Port Trust (KPT). According to a notification issued by the Ministry of Maritime Affairs, the federal government has approved reconstitution of KPT’s Board of Trustees in…
KSE-100 Index Profitability – FY24 – Highest profitability on FY basis
The profitability of the KSE-100 index continues to rise, registering a growth of 24% YoY during FY24, the highest profitability on an FY basis. The growth in profitability during the period came on the back of 6%, 23%, 35%, 38%, 84%, and 137% YoY growth in the E&P, Power, Bank, Cement, Fertilizer, and OGMC sectors,…
Larkana industrial zone has been given status of SEZ. Jam Ikramullah Dharejo
Karachi : September 24. Provincial Minister for Industries and Commerce Jam Ikramullah Dharejo has said that the Larkana Industrial Zone has been given the status of an Economic Special Zone for the development of Larkana and its surrounding areas. He said this while speaking on the occasion of an agreement ceremony between the SITE Government…
UK Trade Commissioner Discusses Strengthening Bilateral Trade with Pakistan’s Commerce Minister
Islamabad, September 23, 2024 – Mr Oliver Christian, the UK Trade Commissioner, met with Pakistan’s Federal Minister for Commerce, Jam Kamal, to explore avenues for enhancing bilateral trade. The meeting highlighted the need for sectoral collaboration and a business-to-business matchmaking approach to target growth areas in both countries. Jam Kamal emphasized Pakistan’s immense potential in…
Qist Bazaar Raises US$3.2 M ‘Series A’ Funding
Karachi, Pakistan – Qist Bazaar, Pakistan’s Buy Now Pay Later (BNPL) fintech startup, announced that it has secured US$3.2 million in its Series A funding round. The round was led by Indus Valley Capital, with participation from Gobi Partners holding US$1.6 billion in assets under management (AUM). Bank Alfalah, has already invested in it. Qist…
NBP Launches Easy Loan Facility “Cash N Gold” to Meet Customer Needs
Islamabad: 21, September 2024, National Bank of Pakistan introduces its latest service, “NBP Cash N Gold,” offering a seamless way for customers to obtain quick loans against their gold items. With the promise of easy terms, minimal paperwork and competitive processing, NBP provides a hassle-free experience for those needing immediate funds. Customers can borrow up…
Privatisation Commission Board Meeting
Islamabad: 20, September 2024, A meeting of the Privatisation Commission Board was held in Islamabad on 20th September 2024, under the Chairmanship of the Minister for Privatisation/ Chairman Privatisation Commission, Mr Abdul Aleem Khan. The board reviewed the current status of PIA privatisation and considered the recommendations of the Financial Advisor concerning the permitted changes…
UN Resident Coordinator Mohamed Yahiya Meets Commerce Minister to Discuss Sustainable Trade Growth in Pakistan
Islamabad: 20, September 2024, Mr. Mohamed Yahiya, Newly Appointed United Nations Resident and Humanitarian Coordinator (UNRHC) called on the Federal Minister for Commerce on 20th September 2024. He was accompanied by representatives from the UNRHC office, the United Nations Industrial Development Organization and the International Trade Centre. UN Resident and Humanitarian Coordinator briefed the official…
TikTok becomes official Entertainment Partner of Shark Tank Pakistan
Karachi, September 20, 2024 – TikTok has announced its role as the Entertainment Partner for the inaugural season of Shark Tank Pakistan, acquired by Greenlit Studio. This partnership marks a milestone in TikTok’s mission to inspire creativity and bring joy, providing a platform for innovation and entrepreneurship in Pakistan. Shark Tank, the globally acclaimed business…
TPL Corp to acquire FINCA Microfinance Bank Limited
KARACHI, September 20, 2024: TPL Corp Limited (“TPL”), TPL and Abhi (Private) Limited have jointly entered into a Share Purchase Agreement to acquire FINCA Microfinance Bank Limited. Following Sections 96 of the Securities Act, 2015 and Clause 5.6.1(a) of the Rule Book of the Pakistan Stock Exchange Limited, TPL Corp has informed that on the…
Samsung in collaboration with Simpaisa launches Digital Wallets on Samsung’s Online Estore in Pakistan
Karachi-20-September-2024:Samsung is excited to announce its collaboration with Simpaisa by launching the Digital Wallets payment option on Samsung’s official eStore for Pakistan, www.samsung.com/pk. This marks a significant step towards enhancing the online shopping experience for Samsung customers in Pakistan. Over the past years, Samsung has made substantial investments in its eStore by continuously enhancing its…
Fauji Fertilizer Bin Qasim’s Board approved merger with Fauji Fertilizer Company (FFC)
KARACHI, September 20, 2024: The Board of Directors of the Fauji Fertilizer Bin Qasim (FFBL) in its meeting held on 20th September 2024 has approved the merger with and into the Fauji Fertilizer Company (FFC). However, the merger is subject to approval of shareholders, secured creditors and other regulatory approvals. The FFBL has formally disclosed…
Chinese COPHC Chairman Meets Commerce Minister to Discuss Gwadar Port Development
Islamabad, September 18, 2024 – Mr. Yubo, Chairman of the Chinese company COPHC, met with Federal Minister for Commerce Jam Kamal Khan to discuss proposals for the activation and enhancement of trade activities at Gwadar Port. During the meeting, Mr. Yubo presented suggestions to boost operations at the port and sought the government’s support to…
