Business
KE committed to bringing Karachi to power surplus situation by 2022, despite challenges
Karachi, March 03, 2021:Â K-Electric remains committed in bringing Karachi to a power surplus position by 2022 through a series of planned investments across the power value chain. These investments, which would be subject to regulatory approvals will allow KE to benefit consumers and the economy at large. This was stated by Aamir Ghaziani, Chief Financial…
PYMA urged Govt to allow duty-free yarn import from India
Karachi, March 03, 2021:Â Hanif Lakhany, Senior Vice Chairman Pakistan Yarn Merchants Association(PYMA) and Vice Chairman Farhan Ashrafi, has expressed deep concern over the unavailability of cotton yarn and the price reaching an all-time high, asked the government to immediately allow duty-free import of yarn & cotton from other countries, including India to save the textile…
Steel Merchants seeks restoration of all tax exemptions for Fata & Pata
Karachi, March 02, 2021: All Iron Steel Merchants Association has asked The Federal Board of Revenue (FBR) to restore all tax exemptions available to the people of Federally Administered Tribal Areas (Fata) and Provincially Administered Tribal Areas (Pata). According to Budget proposal submitted by All Iron Steel Merchants Association, the exemption from sales tax will remain…
Pakistani banks earning increased by 33 pc in 2020
Karachi, March 02, 2021: The Pakistani banks earnings increased by 33 percent YoY in 2020 or by Rs60 billion to reach Rs238 billion. This was driven by earlier re-pricing of Liabilities compared to Assets amidst declining interest rates coupled with higher than expected deposit growth of 22 percent YoY, resulting in Net Interest Income (NII)…
KSE-100 closed with 0.8pc increase
Karachi, March 02, 2021: The KSE100 index saw some recovery today as it touched a high of +484 points before closing at 45,964 levels (up 0.8 percent). Top volume leaders of the session were TRG (+4.3 percent), ANL (+4.6 percent), ASL (+7.0 percent), BYCO (+1.8 percent), GGL (+2.5 percent) and UNITY (+1.8 percent) cumulatively contributing…