Business
PSX index closed at a decline of 226pts
Karachi, May 20, 2020: Market saw profit booking across the board in the run-up to Eid holidays and the long weekend. Though international crude oil prices remained high overnight and since yesterday, local investors little heed to that, given the long gap from Friday till next week on Thursday, which can cause the underlying prices…
FPCCI urged FBR to withdraw discretionary powers
Karachi, May 20, 2020: Mian Anjum Nisar, President and Zakaria Usman, Convener,Budget Advisory Council of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) urged the FBR to withdraw the discretionary powers vested with the tax officials to avoid their misuse, provide relief to the taxpayers, simplify taxation law and restore the diminishing confidence…
Industrialists hail Waiver of 3-month electricity bills
PM’s initiative provides relief to 2500 devastated industries in North Karachi industrial area: Capt. A Moiz, Naseem Akhtar. Karachi, May 19, 2020: Capt. A Moiz Khan, patron-in-chief, North Karachi Association of Trade and Industry (NKATI) and President Naseem Akhtar has expressed gratitude to Prime Minister Imran Khan, Finance Advisor Hafeez Sheikh, Planning Minister Asad Umar,…
Textile exports nosedive 65pc YoY in Apr-2020
Karachi, May 19, 2020: As was generally expected in such a severe pandemic scenario with major trade hindrances and low global demand, textile exports severely suffered in Apr-2020, declining by 65 percent YoY to US$404 million. Sales for all major categories plummeted during the month, with the most severely hit being garments. Cumulatively, textile exports…
Standard Chartered Pakistan posts quarterly profit of PKR 8.8bn for 1Q2020
Highlights: Highest ever quarterly profit of PKR 8.8 billion (before tax); up 30 percent YoY Total Deposits cross PKR 500 billion milestone; up by 10percent Overall Revenue grows by 27 percent Client Revenue increases by 42 percent CASA to deposits ratio of 94 percent; one of the best in class Karachi, May 19, 2020: Standard…