News & Updates

News Update

27

Jun 2024

Jun 27, 2024 • 5 min read

SBP Reserves Fall Below $9 Billion Mark After $239 Million Weekly Decline

The foreign exchange reserves held by the State Bank of Pakistan (SBP) fell below the $9 billion mark according to data...

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News Update

27

Jun 2024

Jun 27, 2024 • 5 min read

Foreign Investors Repatriate $1.8 Billion Profit in 11 Months of FY24

The repatriation of profit and dividends by foreign investors surged to $1.81 billion in 11MFY24, up 477 percent from $3...

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News Update

27

Jun 2024

Jun 27, 2024 • 5 min read

FBR Grants License to Firm for Integration of Electronic Invoicing

The Federal Board of Revenue (FBR) has granted license to M/s Haball (Pvt.) Ltd., Karachi for the purpose of integration...

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News Update

27

Jun 2024

Jun 27, 2024 • 5 min read

Faysal Bank’s Parent Company to Receive $225 Million For Joint Venture Sale

Ithmaar Holding, the parent company of Faysal Bank Limited (PSX: FABL), will receive $225 million for the sale of a 75 p...

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News Update

27

Jun 2024

Jun 27, 2024 • 5 min read

Rupee Posts Small Gains Against US Dollar 3rd Day in a Row

The Pakistani rupee (PKR) rose third day in a row against the US Dollar today after opening trade at 278 in the interban...

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News Update

27

Jun 2024

Jun 27, 2024 • 5 min read

CCP Grants Exemption to Microfinance Bank On Non-Compete Clauses Until December 2025

The Competition Commission of Pakistan (CCP) has granted exemption over specific clauses of the Sale Share Agreement (SS...

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News Update

27

Jun 2024

Jun 27, 2024 • 5 min read

Taxpayers Criticize “Discriminatory” Finance Bill 2024, Call for Comprehensive Reforms

Tax Payers Alliance Pakistan (TPAP) – an initiative of the economic think tank PRIME (Policy Research Institute of Marke...

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News Update

27

Jun 2024

Jun 27, 2024 • 5 min read

CCP to Initiate Inquiry Against Mezan Beverages for Copying Sting Packaging

The Lahore High Court (LHC) has dismissed the writ petition filed by M/s Mezan Beverages Pvt. Ltd against a show-cause n...

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News Update

26

Jun 2024

Jun 26, 2024 • 5 min read

OGDCL to Explore Geothermal Potential in 25 Fields

Oil and Gas Development Company Limited (OGDCL) has developed a strategy for exploiting geothermal resources in 25 oil a...

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News Update

26

Jun 2024

Jun 26, 2024 • 5 min read

Engro Corp to Become Wholly-Owned Subsidiary of Dawood Hercules

Shareholders of Engro Corporation Limited (PSX: ENGRO) and Dawood Hercules Corporation Limited (PSX: DAWH) have approved...

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News Update

26

Jun 2024

Jun 26, 2024 • 5 min read

Cabinet Approves Repayment of Rs. 82 Billion Loan to OGDC

The Federal Cabinet has approved the repayment of a longstanding Rs. 82 billion loan owed to the Oil and Gas Development...

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News Update

26

Jun 2024

Jun 26, 2024 • 5 min read

PM Approves JV to Relocate Chinese Industries to Pakistan

Prime Minister Shehbaz Sharif on Wednesday approved the joint venture initiative between Chinese and Pakistani companies...

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News Update

26

Jun 2024

Jun 26, 2024 • 5 min read

SOEs Incurred Losses of Whopping Rs. 5.6 Trillion in Last 10 Years

The aggregate losses of state-owned enterprises (SOEs) in the last ten years hit nearly Rs. 5.6 trillion by the end of F...

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News Update

26

Jun 2024

Jun 26, 2024 • 5 min read

Pakistan Loses Rs. 6 Trillion a Year to Corruption: Minister

Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh has claimed that Pakistan loses as much as Rs. 6,000 billion t...

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News Update

26

Jun 2024

Jun 26, 2024 • 5 min read

LDA Seals Dozens of Properties Over Unpaid Commercialization Fees

Under the directives of Director General Lahore Development Authority (LDA) Tahir Farooq, LDA teams carried out a specia...

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News Update

26

Jun 2024

Jun 26, 2024 • 5 min read

Govt Withdraws 25% Sales Tax on Hybrid Vehicles

The federal government has withdrawn proposal to impose 25 percent sales tax on hybrid electric vehicles (HEVs) in Finan...

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News Update

26

Jun 2024

Jun 26, 2024 • 5 min read

Interloop to Invest $58 Million to Expand Hosiery Plant

Interloop Limited (ILP) has approved to enhance capacity in Hosiery by 25 percent with the installation and commissionin...

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News Update

26

Jun 2024

Jun 26, 2024 • 5 min read

Govt to Install Smart Meters to Prevent Theft From Oil and Gas Pipelines

The federal government has decided to install smart meters to prevent theft from oil and gas pipelines. Prime Minister S...

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News Update

26

Jun 2024

Jun 26, 2024 • 5 min read

Mashreq Pakistan Secures In-Principle Approval to Launch Islamic Banking Operations in Pakistan

Mashreq Pakistan, a part of Mashreq which is the leading financial institution in the MENA region, has announced a signi...

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News Update

26

Jun 2024

Jun 26, 2024 • 5 min read

Treet Corporation’s Foreign Subsidiary Officially Incorporates in UAE

Treet Corporation Limited’s (PSX: TREET) foreign subsidiary Treet Trading LLC has been successfully incorporated with th...

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News Update

26

Jun 2024

Jun 26, 2024 • 5 min read

Govt Takes U-Turn On Raising Retirement Age of Its Employees

The federal government has scrapped a proposal to increase the retirement age of public sector employees, military perso...

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