Inefficient SOEs inflict Rs 500 Billion loss to national exchequer in 2022: Finance Minister
Owing to inefficiencies and mismanagement, the deficient State-Owned Enterprises (SOEs) incurred overall losses of around Rs 500 billion to the national exchequer during last year (2022), Caretaker Federal Minister for Finance, Revenue, Economic Affairs, Dr Shamshad Akhtar said. Addressing a press conference, the minister said there were also profit-making enterprises, which earned an aggregate profit…
Adil Aziz
Endeavor Pakistan & TPL Maps’ “Chasing Impact” Event
Endeavor Pakistan, a leading global organization dedicated to fostering entrepreneurship and supporting high-impact startups to scale, successfully hosted the “Chasing Impact” event at Colabs (Lahore Campus) co-sponsored by TPL Maps. The event witnessed a remarkable turnout and brought together prominent venture capitalists, emerging startups, and renowned entrepreneurs nationwide for a day of insightful discussions, networking,…
Zong 4G announces Huo Junli as new CEO
Zong 4G, Pakistan’s leading telecommunications company, has announced Huo Junli as the new Chairman & Chief Executive Officer (CEO), marking a significant leadership transition. “Huo Junli has officially taken the helm, succeeding Wang Hua, who has served as CMPak’s CEO and Chairman for over five years and will now undertake a new role within the…
SBP awards IPA for establishing 5 digital retail banks
The State Bank of Pakistan (SBP), in a bid to foster innovation, financial inclusion and availability of affordable digital financial services, granted in-principle approval (IPA) for establishing five digital retail banks. Governor SBP, Jameel Ahmad awarded IPAs to the five proposed digital banks- HugoBank Limited, KT Bank Pakistan Limited, Mashreq Bank Pakistan Limited, Raqami Islamic…
PTCL Group extends a compassionate hand to Pakistanis affected by recent natural disasters in Morocco and Libya
Pakistan’s largest telecommunication and integrated ICT services provider, PTCL Group (PTCL and Ufone 4G) has launched a Corporate Social Responsibility (CSR) initiative in response to the devastating natural calamities across the North African countries, Morocco and Libya. The initiative aims to connect families in Pakistan with their loved ones in these crisis-stricken countries to help…
US Embassy working to reduce visa appointment wait time
The Embassy of the United States said steps were being taken to reduce visa appointment wait time for the people of Pakistan. “Demand for US visas is the highest it has ever been. We are processing more visa applications than ever before and are working hard to bring down visa appointment wait times,” said a…
World’s first Shariah-Compliant OPD Company, Siha Health & Wellness, Acquired by Tabani Group
Tabani Group, a renowned business conglomerate in Pakistan, has acquired the world’s first and only Sharia-Compliant OPD Company Siha Health and Wellness Private Limited as a subsidiary. The company has been accredited unanimously by 17 Islamic scholars from Pakistan, Africa, UAE, India, and Bangladesh as a fully Shariah-compliant entity. Siha specializes in tailor-made cashless health…
Punjabi Music fever is at an all-time high on Spotify in Pakistan
The musical journey of Punjabi music on Spotify has been nothing short of spectacular. With its rich diversity, captivating melodies, and percussive vocals, Punjabi music has found a special place in the hearts of Pakistani listeners. In recent years, the music landscape in Pakistan has witnessed a remarkable transformation, with Punjabi music gaining unprecedented popularity…
PSX marks launch of JS Global Banking sector ETF with a gong ceremony
A gong ceremony was held at the Pakistan Stock Exchange (PSX) to formally launch and celebrate the listing of the JS Global Banking Sector Exchange Traded Fund (JSGBETF). The commencement of trading of units of JSGBETF took place on September 11, 2023, this is the first ETF to be launched by a brokerage house in…
Banking sector shown steady performance, resilience during H1CY23: SBP Review
Pakistan’s Banking sector showed steady performance and resilience during the first half of 2023 despite challenging macro-economic environment as the banking sector managed to expand its asset base by 14 % while asset quality, profitability and solvency also registered positive growth. It was stated in Mid-Year Performance Review of the Banking Sector for 2023- issued…