Business
Car sales up 36pc MoM in Jul-2020 as lockdowns ease
Karachi, August 11, 2020: Car sales, as reported by PAMA, declined by 8 percent YoY in Jul-2020 to 11,501 units. Indus Motor (INDU) and Honda Car (HCAR) sales registered growths of 68 percent YoY and 46 percent YoY, respectively. However, Pak Suzuki Motor Company (PSMC) sales declined by 40 percent YoY. Kia Lucky Motors (non-member…
Record increase in export of fruits & vegetables despite COVID-19
Karachi, August 11, 2020: Pakistan has registered record enhancement in export of fruits & vegetables despite coronavirus global pandemic. The Financial year 2019-20 has witnessed an overall increase in export of fruits & vegetables by 12.5 percent amounting to USD 730 million which is an ever highest revenue in terms of foreign exchange generation. During…
SBP enhances loan limits and expands relief measures for microfinance borrowers
Karachi, August 11, 2020: State Bank of Pakistan (SBP) has enhanced the limits for housing finance and microenterprise loans up to Rs3 million from the existing limit of Rs1 million for borrowings from the microfinance banks. Likewise, the maximum size of general loans has been enhanced from Rs150,000 to Rs350,000. Further, to commensurate with enhanced…
K-Electric successfully closes PKR 25bln Sukuk
Karachi, August 10, 2020: K-Electric (KE) is pleased to announce the successful closure of its PKR 25 billion Sukuk which is the largest Sukuk issue in the private sector of Pakistan. With oversubscription of IPO portion of Sukuk by almost 2.5 times, the power utility was able to close the Sukuk subscription on 3rd August…
IMC declares profit after tax of PKR 5.1 billion for FY2019-20
Karachi, August 10, 2020: The Board of Directors of Indus Motor Company Ltd. (IMC) met on August 10, 2020 to review the company’s financial and operating performance for the year ended June 30, 2020. The net sales turnover for the year ended, June 30,2020 decreased by 46 percent to Rs.86 billion as compared to Rs.158…