Islamabad, January 12, 2024 : Utility Stores Corporation (USC) has announced to procure some 70,000 tons sugar to ensure uninterrupted supply of the essential commodity during Ramadan. Bids for the supply of sugar have been welcomed from interested parties until January 30, with the tender opening on the same day. Despite having a one-month sugar…
Islamabad, January 12, 2024 : In a strategic move towards advancing international trade facilitation, Pakistan Single Window (PSW) launched its dedicated Russian language helpline to benefit international transit trade with Central Asia. Introducing this helpline service addresses a crucial language barrier faced by traders particularly from Uzbekistan and Tajikistan using Pakistani ports as transit routes…
Islamabad, January 12, 2024 : IMF executive board has approved first review for Pakistan under the Stand By Agreement (SBA) which is likely to lead to the release of US$700mn tranche. This will take total disbursement by IMF under the SBA program to US$1.9bn to Pakistan and will help support foreign exchange reserves of the…
Islamabad, January 11, 2024 : The Center of Excellence in Journalism (CEJ) at the Institute of Business Administration (IBA), Karachi has launched a non-partisan fact-checking initiative, iVerify, to advance the scope of independent and unbiased reporting in the country’s journalistic landscape. Addressing the iVerify launch ceremony at Serena Hotel, Islamabad, Amber Rahim Shamsi, Director CEJ-IBA,…
Islamabad, January 11, 2024 : Pakistan listed sugar sector’s earnings were up 78% YoY to record high of Rs22bn in FY23 (Oct-2022 to Sep-2023). This increase is attributed to rise in sugar prices that led to higher gross margins. Ethanol, which is a by-product of sugar, also experienced improved performance in FY23 due to favorable…