Business
Shahzad Dada moves to UBL from Standard Chartered Bank
Karachi, May 06, 2020: Shahzad Dada has stepped down as the President and CEO and Director of Standard Chartered. He will remain to serve his bank for one more month on the notice period. His resignation has been accepted by the board of directors, according to the official announcement. Shahzad Dada took the decision to…
President approves amendments to companies act to facilitate startups
Karachi, May 04, 2020: President Dr Arif Alvi has approved amendments in Companies Act 2017 to provide an enabling regulatory framework to facilitate startups in Pakistan. These amendments were proposed by the Securities and Exchange Commission of Pakistan (SECP) to help promoting and nurturing startups as well as attract local and international innovators. The Companies…
CNG sector should not be burdened with subsidy of other sectors
Petrol and CNG price difference must for survival of later: Ghiyas Paracha Karachi, May 04, 2020: The All Pakistan CNG Association (APCNGA) on Monday said the compressed natural gas sector is at the verge of destruction due to parity between the price of petrol and local gas. The price of gas should have been reduced…
PSX index decline 195pts on Monday
Karachi, May 04, 2020: Market saw some profit booking today on the back of developing situation on international front and reclining oil prices, which also came down after posting significant gains last week. E&P and OMCs traded considerable volume and largely maintained a higher average than last trading session. Banking sector stocks, on the other…
Pakistan’s cement sector paying highest taxes in region
Karachi, May 02, 2020: The cement industry is paying Rs 195 per bag taxes which are highest in the region, besides 50 percent increase in transportation cost after implementation of axel load policy resulted into the huge losses by the industry during the last nine months. The cement manufacturing units started incurring losses after the…