Business
SBP revises selected chapters of Foreign Exchange manual
Karachi, July 20, 2019: Considering the market dynamics, business environment and changes in way of doing business, the State Bank is in the process of revising the Foreign Exchange Manual in consultation with relevant stakeholders in a phased manner. The revision is mainly aimed at simplification of the existing instructions, adoption of best international practices,…
PSX shows recovery on Friday
Karachi, July 19, 2019: Pakistan Stock Index oscillated ~650 during the session with +240 points and -408 points. The first session ended 240 points down and 49 million shares traded, whereas the second session saw a recovery in the index resulting in +240 points (unadjusted). News of State Enterprise / Market Opportunity Fund by State…
Banks to post robust growth in FY20
Karachi, July 19, 2019: Banking sector is most likely to witness robust growth during this fiscal year (FY20) supported by higher interest rates. According to JS Global, outperform stance on banks for CY19 on account of healthy profitability growth driven by recent monetary tightening (1QCY19 Net Interest Income growth: 25 percent YoY), which is expected…
Fertilizer industry lends support to govt and farmers
Islamabad, July 19, 2019: The fertilizer industry has voluntarily held back the impact of recent gas price increase, in order to prevent backlash of recent gas price hike from farmers. This was agreed on request of Advisor Industries, Razzaq Dawood. The Advisor has assured the industry about the settlement of GIDC effective 01 July to…
Fertilizer industry seeks GIDC settlement
Islamabad, July 18, 2019: The fertilizer industry has asked the federal government for immediate settlement of GIDC. The fertilizer industry, in order to prevent an adverse situation that could cause Government serious problems, has been providing its major contribution towards the employment and the national exchequer. It fully supports the Government nonetheless anticipates that to…