Business
SBP fresh currency notes service receives an overwhelming public response
Karachi, May 29, 2019: The SMS service launched by State Bank of Pakistan for issuance of fresh currency notes for Eid-ul-Fitr 2019 attracts a huge response. State Bank of Pakistan (SBP) appreciates the interest shown by the general public in its 8877 SMS service for obtaining fresh notes for Eid. This year service was launched…
PWMA condemns unprecedented Hike in SBP policy rate
Karachi, May 29, 2019: Pakistan Weaving Mills Association’s Chairman, Yousuf Yaqoob has expressed his dismay over the spike in SBP Policy Rate from 6.0 percent to 12.25 percent by 150bps since January 2018 when the State Bank began raising interest rates, it has more than doubled, making this one of the sharpest cycles of monetary…
Export Sector Association expresses deep concern about discontinuation of zero-rated exports
Karachi, May 28, 2019: The Chairmen of Value Added Export Sector Associations in a joint Press Conference held at PHMA House Karachi while expressing deep concern stated that discontinuation of zero-rated status will result in ruin and disaster of export-oriented industries, a flight of capital, mass unemployment, and huge foreign exchange losses. It will also…
Revised applicable tariff for KE customers notified
Karachi, May 28, 2019: As per the National Electric Power Regulatory Authority’s (NEPRA) tariff terms and conditions notified in SROs dated May 22, 2019, issued by the Ministry of Energy (Power Division), electricity tariff for K-Electric consumers has been revised upward and will be applicable from the next billing cycle. This revision is in line…
Profitability down by 1.2pc YoY during 3QFY19
Karachi, May 27, 2019: Earnings of the KSE-100 index depicted a downturn of 1.2 percent YoY during 3QFY19. Based on sectoral weight, this was led primarily by Cements (-7.8 percent YoY; 5.7 percent weight), Oil & Gas Marketing Companies (-65 percent YoY; 4.3 percent weight), Automobile Assemblers (-44 percent YoY; 3.1 percent weight), and Pharmaceuticals…