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business and stock

Dawlance wins ‘Best Omni Channel Campaign’ at Pakistan Digital Awards 2021

Dawlance, the technology leader in Pakistan’s home appliances market, has recently won the “Best Omni Channel Campaign Award” at the ‘Pakistan Digital Awards ceremony (PDA) 2021, by outshining all the major participating brands. This is the second consecutive year that

Seafood exports increase by 1.85% in FY21

ISLAMABAD: The exports of fish and fish preparations increased by 1.85 percent during the fiscal year 2020-21 as compared to the corresponding period of last year. The seafood exports during July-June (2020-21) were recorded at $414.193 million against the exports

Business community rejects decisions of Sindh Task Force under protection of COVID-19

KARACHI: All Karachi Tajir Ittehad Chairman Atiq Mir has said that the business community rejects the decisions of the Sindh Task Force under the protection of coronavirus. Regarding the change in business hours by the Sindh government in view of the spread

Govt to reverse sales tax on suger to ex-mill rate

ISLAMABAD: The ruling Pakistan Tehreek-e-Insaaf (PTI) government has decided to reverse the sales tax on sugar to the ex-mill rate till November 30 this year to ensure reasonable reduction in the price of sugar. According to details, the decision was

Pakistan-Uzbekistan private sector sign JVs worth billions

KARACHI: Mian Nasser Hyatt Maggo – President FPCCI – has welcomed the signing of Business-to-Business Joint Ventures between Pakistan and Uzbekistan private sector. He added that Pharmaceuticals, Textiles, Leather, Petrochemicals, and Agriculture sectors have been the focus of MoUs signed

Increasing role of private sector on World Bank’s proposal will reduce problems: Murtaza Mughal

KARACHI: Pakistan Economy Watch President (PEW) Dr. Murtaza Mughal’s decision to reduce its role in wheat procurement and increase the role of the private sector is commendable. The World Bank has suggested that the government limit its role in wheat

Kamyab Pakistan to be launched within this month: Minister

ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin lauded his team for the development of the Kamyab Pakistan Programme, saying that it will be launched within this month. According to details, the government has decided to give Rs1.6 trillion

K-Electric committed to ensuring power supply to customers

KARACHI: As the metropolis continues to experience intermittent showers, K-Electric continues to remain fully committed to facilitating its customers and improve power supplies. “We are regularly monitoring the situation in various parts of Karachi and our teams are vigilant to

Business community of Pakistan is against unconstitutional policies: FPCCI

KARACHI: Acting President FPCCI has said that the business community of Pakistan is against the unbalanced policies that have been in practice in the country for long; which are favoring the elite and interest groups; and, promote corruption in government

ECC increases prices of flour, ghee and sugar at utilities stores

ISLAMABAD: The Economic Coordination Committee (ECC) has approved increasing the prices of three essential commodities including flour, sugar and ghee to rationalise the provision of subsidies by the Utility Stores Corporation. The ECC approved the revision in prices of three

Byco implements Pakistan’s first SAP Ariba DSN & Sourcing Suite

KARACHI: Byco Petroleum Pakistan Limited, Pakistan’s largest oil refining company, has signed an MoU for the first-ever implementation of SAP Ariba DSN (Digital Supplier Network) and Sourcing Suite in Pakistan. “The initiative will automate the procurement process enabling a paperless

Govt raises petrol price by Rs5.40 per litre

ISLAMABAD: The federal government increased the prices of petrol by Rs5.40 per litre and that of high-speed diesel (HSD) by Rs2.54 per litre, Special Assistant to Prime Minister on Political Communication Shahbaz Gill said on Thursday. Taking to Twitter, the

KE says power supply continues to KWSB

KARACHI: K-Electric has said that recent reports of breakdowns at the pumping station are being associated with power fluctuations, claiming that power supply continues to Karachi Water and Sewerage Board (KWSB). “K-Electric remains committed to powering the city of Karachi

FPCCI proposes one-window facility for women entrepreneurs at SECP

KARACHI: The Securities & Exchange Committee of Pakistan (SECP) has assured women entrepreneurs to conduct business and remove barriers to company registration. On request of FPCCI Women Entrepreneur Committee, the SECP has also assured to consider setting up a one-window

Pakistan receives $1bn against Euro bonds

ISLAMABAD: The State Bank of Pakistan (SBP) has received $1 billion proceeds of the government’s tap offering of its recently issued Euro Bond. According to a statement by the central bank, the SBP’s foreign exchange reserves as of July 13,

Illegal rickshaw stands a nuisance for industrialists: NKATI President

KARACHI: Businessmen and industrialists have expressed concerned over the presence of illegal rickshaws in North Karachi Industrial Area and asked DIG Traffic Karachi to remove them. North Karachi Association of Trade & Industry (NKATI) President Faisal Moiz Khan issued a

BlueEX, AIM join hands to support women’s empowerment initiative

KARACHI: Universal Network Systems Limited (UNSL -BlueEX) and Akhuwat Islamic Microfinance (AIM) have joined hands to provide interest-free microfinance loans to women in support of the Women Economic Empowerments Initiative. Under this initiative, both companies shall provide microfinancing to deserving

FPCCI, KCCI, PYMA join hands for resolving budget anomalies

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has decided to make joint efforts to eliminate budget anomalies in the federal budget 2021-22. FPCCI, KCCI, and PYMA condemned the self-imposed decisions of the Senate Budget Anomalies Committee

Exports of sports goods drop by 1.6% in 11 months

ISLAMABAD: The exports of sports goods have witnessed a decrease of 1.06 percent during the first eleven months of the fiscal year (2020-21) as compared to the exports of the corresponding period. Official figures compiled by Pakistan Bureau of Statistics

U Microfinance Bank and Bank Alfalah announce strategic partnership

President & CEO of U Microfinance Bank Limited Mr. Kabeer Naqvi and President & CEO of Bank Alfalah Limited, Mr. Atif Bajwa, signed off a strategic partnership to promote financial inclusion in the country. This new relationship not only strengthens

Summary proposing 15% special allowance for armed forces sent to Cabinet

ISLAMABAD: The Federal Ministry of Finance has sent a summary to the Federal Cabinet proposing a 15 percent further increase in basic salaries for all the ranks of the armed forces. Prime Minister Imran Khan has directed to place the

South Punjab set to get its first Amazon facility after Eid

MULTAN: South Punjab’s first Amazon Fulfillment and Facilitation Center (AFFC) will be inaugurated in Multan after Eid-ul-Azha — which will provide local handmade and cultural products access to the international market. Post-Master General (PMG) Zulfiqar Husnain said that the opportunity

NKATI expresses concern over non-supply of water to industries

KARACHI: Faisal Moiz Khan, President, North Karachi Association of Trade & Industry (NKATI), has expressed deep concern over non-supply of water to the industries, requested authorities to take notice of the issue immediately. In a statement, Faisal Moiz Khan has

Shell, K-Electric inaugurate electric vehicle charging station

KARACHI: Shell Pakistan Limited (SPL) and K-Electric (KE) have inaugurated the first ‘Rapid Charger’ station for electric vehicles in Karachi. The charger has a capacity of 50 kWh for electric vehicles and is located a Shell Askari 4 forecourt located

Details on new auto policy 2021-26 finally revealed

The all-new auto policy 2021-26 has been revealed by Federal Minister of Industries and Production, Khusro Bakhtiar. While speaking to the media, Minister Bakhtiar shared the additional features of the new auto policy. According to the highlights, the government has

Ghee, cooking oil prices raised by Rs30 per kg

LAHORE: Pakistan Vanaspati Manufacturers Association (PVMA) jacked up the prices of ghee and cooking oil from Rs18 to Rs30 per kilogram due to the budgetary taxation measures made by the government through finance bill. According to details, no respite has

Systems Limited launches Studio 77 creative workspace

Systems Limited is ready to explore a new approach to design as it reimagines its creative workspace, Studio 77, the company’s center of creative excellence where human-centrism meets cutting-edge technology to bring breakthrough ideas to life. At Studio 77, the

K-Electric advises caution ahead of monsoon season

KARACHI: K-Electric reiterated the importance of safety during and beyond the expected rains ahead of the monsoon season. The power utility urged its valued customers to adopt necessary precautionary measures to avoid any safety hazards. Karachi was among the most

JS Bank and PMRC join hands to make house financing accessible to all income groups

JS Bank and Pakistan Mortgage Refinance Company (PMRC) have worked in unison to further the objective of the Government of Pakistan and initiatives of the State Bank of Pakistan in the provision of low-cost and affordable house financing to all

Pakistan’s exports to US increase 39% to reach $5.2bn

ISLAMABAD: Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood has said that Pakistan’s exports to the United States during fiscal year 2021 increased by 39 percent as compared to year 2020. In a tweet, the commerce adviser