News & Updates

News Update

23

Aug 2024

Aug 23, 2024 • 5 min read

Finance Minister Emphasizes Pak-Turkey Collaboration in Aviation Sector

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a meeting with Mehmat T. Nane, Chairperson of...

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News Update

23

Aug 2024

Aug 23, 2024 • 5 min read

President Asif Ali Zardari Confirms FTO’s Landmark Order Against Illegal Tax Recovery By FBR

President Asif Zardari has confirmed a landmark order issued by Federal Tax Ombudsman (FTO) Dr. Asif Jah, who has taken...

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News Update

23

Aug 2024

Aug 23, 2024 • 5 min read

Weekly Inflation Comes in at 16.7%, Lowest After Two Years

The Sensitive Price Indicator (SPI) for the current week ended on August 22, 2024, depicted an increase of 16.69 percent...

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News Update

23

Aug 2024

Aug 23, 2024 • 5 min read

Fatima Fertilizer Decides to Acquire Shares, Financial Instruments of Agritech Limited

Fatima Fertilizer Company Limited (PSX: FATIMA) has decided to attempt to acquire ordinary shares, convertible preferenc...

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News Update

23

Aug 2024

Aug 23, 2024 • 5 min read

Pakistan Seeks $4 Billion Loan From Middle Eastern Banks to Unlock New IMF Bailout

Pakistan is in advanced talks with Middle Eastern banks to secure $4 billion in loans to meet its external financing req...

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News Update

23

Aug 2024

Aug 23, 2024 • 5 min read

PTA Warns Severe Telecom Disruption Likely If LDI Licenses Aren’t Renewed

Pakistan Telecommunication Authority (PTA) has warned of a looming crisis in Pakistan’s telecom sector due to the potent...

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News Update

23

Aug 2024

Aug 23, 2024 • 5 min read

Pakistan’s Share of Global IT Market Less Than 0.04%

The Senate Standing Committee on Information Technology and Telecommunication was informed on Thursday that Pakistan’s s...

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News Update

23

Aug 2024

Aug 23, 2024 • 5 min read

Alfalah Asset Management Secures CCP Approval for Strengthening Market Position

The Competition Commission of Pakistan (CCP) has granted approval for the acquisition of management rights of certain fu...

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News Update

23

Aug 2024

Aug 23, 2024 • 5 min read

Rupee Recovers Against US Dollar, Other Currencies to End Tough Week

The Pakistani rupee (PKR) revered its 2-day losing streak to close current week with small gains against the US Dollar t...

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News Update

23

Aug 2024

Aug 23, 2024 • 5 min read

BlueEx Considers Buying Business Operations of An E-Commerce Company

BlueEx (PSX: GEMBLUEX) is considering the acquisition of the E-commerce business of an E-com sector company. “Blue-Ex (“...

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News Update

23

Aug 2024

Aug 23, 2024 • 5 min read

SHC Grills FBR for Hindering Revenue Cases, Imposes Rs. 25,000 Fine Per Petition

Sindh High Court (SHC) has expressed serious concern that the conduct of the Federal Board of Revenue (FBR) as well as i...

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News Update

23

Aug 2024

Aug 23, 2024 • 5 min read

VALT Finance Secures Grant from Silicon Valley-Based University

VALT Finance, a promising fintech startup focused on democratizing gold and cryptocurrency investing, has recently made...

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News Update

23

Aug 2024

Aug 23, 2024 • 5 min read

Gold Price in Pakistan Climbs Again to Reach Record High

The price of gold in Pakistan continued its record-breaking run for the fourth straight day on Friday to hit a new all-t...

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News Update

23

Aug 2024

Aug 23, 2024 • 5 min read

PM Orders Immediate Constitution of SMEDA’s Board

Prime Minister Shehbaz Sharif on Friday chaired a meeting on matters related to the Small and Medium Enterprises Develop...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

FBR Clarifies New Late Filers Tax After LHC Order

The Federal Board of Revenue (FBR) cannot impose enhanced rates of withholding tax retrospectively on the buying and sel...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

Govt Ends Subsidies on Essential Items At Utility Stores

The federal government has directed to end all subsidies on essential food items at Utility Stores Corporation (USC), dr...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

Gold Price in Pakistan Sets Record for Third Straight Day

The price of gold in Pakistan hit a new high for the third consecutive day on Thursday. According to data issued by the...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

Cherat Packaging to Sell One of its Papersack Production Plants Due to Falling Demand

The Board of Directors of Cherat Packaging Limited (PSX: CPPL) has authorized the management to sell Papersack Line-IV o...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

Total Assets of Non-Banking Finance Industry Hit Nearly Rs. 4 Trillion

The total assets of the non-banking finance industry (NBFI) stood at Rs. 3,978.30 billion as of June 30, 2024. According...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

Engro Corp Profit Declines by 42% in First Half of 2024

Engro Corporation Limited (ENGRO) announced its 1HCY24 financial result with a consolidated profit after tax of Rs. 6.26...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

Pakistan’s Electricity Prices Among World’s Highest, Yet Sector Faces Losses: Atif Mian

The true market price of electricity in Pakistan should not cost more than 8-9 cents per kWh (Rs. 22-25 per unit) compar...

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