Business
Bank Alfalah maintained operating profit at Rs. 25.5 bln
Karachi, February 04, 2021: The Board of Directors of Bank Alfalah Limited in its meeting held on February 3, 2021, approved the Bank’s audited financial statements for the year ended December 31, 2020. The Bank reported an operating profit of Rs. 25.468 billion, marginally higher than last year, despite lockdown in the country and the…
Industrialists halt Unit expansion, Machinery upgrading due to Gas outage & high Power tariff
Karachi, February 03, 2021: Faisal Moiz Khan, President North Karachi Association of Trade & Industry (NKATI), has said that the anti-industry measures of the federal government have started having negative effects as a result of which the industrialists have stopped the expansion of their units and upgrading of machinery, while Investors have also stopped to setup…
EFP Calls upon Enterprises for Employees’ full social security coverage
Karachi, February 02, 2021: “Employers should provide full coverage of social security benefits to their employees to reap the full fruit of improved enterprise productivity.” This was stated by Zaki Ahmed Khan, Vice President EFP, while addressing Awareness Raising Meetings with Employers on Social Security Schemes in Sindh. These meetings were organized by EFP in collaboration…
Pakistan Fertilizer: urea sales to rise 140 pc YoY in Jan-2021
Karachi, February 02, 2021:Pakistan urea sales in Jan-2021 are expected to clock in at 628k tons, up 140 percent YoY amid low base of 262k tons in Jan-2020. Urea sales are down by 29 percent MoM. To recall, urea sales during Jan-2020 were significantly down by 54 percent YoY amid pre-buying by dealers in Dec-2019…
PSX Index closed at increase of 394 points
Karachi, February 02, 2021: Signing of IPP’s agreement by HUBC motivated the Investors to take positions in PSO and HUBC, resulting in HUBC driving the market with an overall increase of 394 points during the session. Similarly, overnight increase in crude oil prices by 3.5 percent caused the E&P sector stocks to react late but…