Business
Archroma starts hand sanitizers production in Pakistan
KARACHI, July 14, 2020: Archroma, a global leader in color and specialty chemicals towards sustainable solutions, started bulk production of a new range of hand sanitizers at its Landhi site in Pakistan in May 2020. This production is as a part of Archroma active engagement in the fight against COVID-19. Kieralon® HS sanitizers are currently available in…
Pakistan received record workers’ remittances
KARACHI, July 13, 2020: Workers’ remittances rose by a significant 50.7 percent during June 2020 to reach record high USD 2.466 billion compared with USD 1.636 billion in June 2019. Similarly, on a cumulative basis, workers’ remittances increased to a historic high level of USD 23,120.7 million during FY20, witnessing a growth of 6.4% over…
IBA-Bank Alfalah launched scholarship fund
KARACHI, July 13, 2020: The Institute of Business Administration (IBA), Karachi and Bank Alfalah Islamic have announced the Alfalah Islamic Scholarship Program to provide financial assistance for five fresh undergraduate students for their entire first year. The MoU for this initiative was signed by CEO and President of Bank Alfalah Atif Bajwa and Executive Director IBA Dr….
Rs 1.68 billion penalty on 15 Pakistani banks
KARACHI, July 12, 2020: Some Rs 1.68 billion penalty has been imposed by the central bank on 15 bank for on deficiencies in regulatory compliance and does not constitute a comment on the financial Soundness Of the entity. These fines were imposed on United Bank Ltd, JS Bank Ltd, Meezan Bank Ltd, Faysal Bank Ltd,…
PTI reduced Markup rate for Kamyab Jawan Scheme
KARACHI, July 10, 2020: The PTI government has decided to reduced the markup rate for the Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme (PMKJ-YES) to increase it’s disbursement. Accordingly, following the directives of the federal government, the State Bank of Pakistan has revised the key features of the Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme…