Business
Auto sales decline by 70pc YoY in Mar-2020
Karachi, April 13, 2020: Auto sales plunged by 70 percent YoY in Mar-2020 to 6,922 units, lowest monthly sales in over a decade, thanks mainly to production halts amid COVID-19. Pak Suzuki (PSMC) posted an 81 percent YoY drop in volumes during the month, with Alto sales dropping to a record low 884 units and…
BankIslami launches Sukuk IPO
Karachi, April 13, 2020: BankIslami Pakistan Limited, while fulfilling its vision of providing innovative Shariah-compliant products and services to the customers, proudly announces Pakistan’s ‘First’ Initial Public Offering (IPO) of Additional Tier 1 Modarba Sukuk under the brand name of “BankIslami Ehad Sukuk”, which will be listed and traded on Pakistan Stock Exchange (PSX). The…
PCDMA urged Sindh Govt to finalize COVID-19 prevention SOPs
Sindh CM take notice of stoppage of raw material vehicles by police Karachi, April 13, 2020: Chairman Pakistan Chemicals & Dyes Merchants Association and former director Karachi Stock Exchange Amin Yousuf Balgamwala, has requested the Chief Minister Sindh Syed Murad Ali Shah to finalize SOPs at the earliest so that they could accordingly adopt precautionary…
KCCI seeks CNIC waiver for unregistered buyers
Karachi, April 13, 2020: In the Finance Act 2019, an amendment has been made to Section 8 (Sub-Sec.1, Clause M) of Sales Tax Act, by addition of 10th Schedule, whereby it is mandatory to provide CNIC number of unregistered buyers in the invoice and Sales Tax Returns in addition to payment of 3 percent Further…
Clarification in response to media coverage about Inquiry Report over alleged Power Sector losses
Karachi, April 13, 2020: In response to the recent reports appearing in media on the Inquiry Committee’s Report (Report) over alleged losses in the Power Sector, the Independent Power Producers Advisory Council (IPPAC) categorically rejects the allegations being attributed to such Report. The reports appearing in the media makes unsubstantiated allegations against the Independent Power…