News & Updates

News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

Govt Restructures Boards of 4 More Distribution Companies

The federal government has dissolved the boards of four more state-owned electricity distribution companies (DISCOs) and...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

ECC Approves Conditional Export of 100,000 MT Sugar

Finance Minister Senator Muhammad Aurangzeb chaired a meeting of the Economic Coordination Committee (ECC) of the Cabine...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

ECC Approves Supplementary Grant of Rs. 20 Billion for Operation Azm-e-Istehkam

Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb chaired a meeting of the Economic Coordination Committ...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

Rupee Loses More Value Against US Dollar, Crashes Against British Pound

The Pakistani rupee (PKR) lost further ground against the US Dollar today after opening trade at 278 in the interbank ma...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

Pakistan Likely to Enter Single-Digit Inflation Territory for First Time in 3 Years in August

Pakistan is likely to enter the single-digit inflation territory for the first time in three years from in August 2024,...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

6-Month KIBOR Declines By 63 Basis Points As Market Expects Another SBP Rate Cut

The 6-Month Karachi Inter-Bank Offered Rate (KIBOR), a benchmark for lending to consumers and businesses, fell by 63 bas...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

Privatization Commission Proposes JV for Roosevelt Hotel’s Privatization

The Privatisation Commission (PC) has proposed a joint venture transaction structure for the privatization of the Roosev...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

Millat Tractors Stops Production Over GST Refunds Issue

Millat Tractors Limited (PSX: MTL) Thursday said it has been forced to stop production till further notice. In a notice...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

Pakistan Refinery Posts Whopping 123% Profit Growth for FY24

Pakistan Refinery Limited (PRL) has concluded the fiscal year 2023-24 with exceptional financial and operational perform...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

Telecom Sector Will Lose Rs. 12 Billion Per Year Due to Ongoing Internet Disruptions

The recent nationwide slowdown in internet speed is creating multifaceted challenges for all sectors including commerce,...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

SBP Reserves Post Slight Increase Over Previous Week

The foreign exchange reserves held by the State Bank of Pakistan (SBP) posted an increase of $19 million on a weekly bas...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

CCP Issues Show Cause Notices to Two Cable Manufacturers Over Resale Price Maintenance

The Competition Commission of Pakistan (CCP) has issued show cause notices to GM Cables & Pipes (Pvt) Ltd. and Newage Ca...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

PM Vows to Unveil Five-Year Economic Revival Plan Very Soon

Prime Minister Shehbaz Sharif Thursday said that he would unveil a five-year economic revival plan in the coming weeks a...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

IT Ministry Submits Details of Pending LDI Dues to Govt

The Ministry of Information Technology (MoIT) has made significant progress in recovering outstanding dues from Long Dis...

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News Update

22

Aug 2024

Aug 22, 2024 • 5 min read

Aurangzeb Invites Dubai Islamic Bank to Enhance Investments in Pakistan

Federal Minister for Finance and Senator Muhammad Aurangzeb Thursday invited the Dubai Islamic Bank to enhance its inves...

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News Update

21

Aug 2024

Aug 21, 2024 • 5 min read

Rupee Suddenly Ends 4-Day Winning Streak Against US Dollar

The Pakistani rupee (PKR) was bearish against the US Dollar today after opening trade at 278 in the interbank market. It...

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News Update

21

Aug 2024

Aug 21, 2024 • 5 min read

Govt Plans to Borrow Rs. 32 Trillion This Fiscal Year

The federal government has unveiled a bold plan to borrow Rs. 32 trillion during the fiscal year 2024-25 to finance its...

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News Update

21

Aug 2024

Aug 21, 2024 • 5 min read

Advisory Board Recommends Exporting 100,000 MT of Surplus Sugar

Minister for Industries and Production Rana Tanveer Hussain on Wednesday chaired a meeting of the Sugar Advisory Board (...

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News Update

21

Aug 2024

Aug 21, 2024 • 5 min read

BankIslami Partners with Euronet Pakistan to Enhance Card Issuance and Drive Digital Transformation

BankIslami Pakistan Limited, one of the leading Islamic banks in Pakistan, offering a wide range of Shariah-compliant fi...

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News Update

21

Aug 2024

Aug 21, 2024 • 5 min read

IESCO Will Issue Discounted Bills in 2 Days

Rawalpindi Commissioner Aamir Khattak announced on Tuesday that the Islamabad Electric Supply Company (IESCO) will relea...

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News Update

21

Aug 2024

Aug 21, 2024 • 5 min read

Allied Bank Posts Highest Ever Quarterly Profit in Q2 2024

Allied Bank Limited (PSX: ABL) announced earnings today for 2QCY24 at Rs. 12.5 billion, depicting an uptick of 25 percen...

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