CCP conclude its inquiry against urea manufacturers, FMPAC
An inquiry committee of the Competition Commission of Pakistan (CCP) concluded its inquiry and recommended the initiation of proceeding under Section 30 of the Competition Act, 2010 against urea manufacturers and the Fertilizers Manufacturers of Pakistan Advisory Council (FMPAC). This inquiry recommendation was based on a prima facie violation of Section 4 ‘Prohibited Agreements’ of…
Adil Aziz
Mobilink Bank’s H1 2023 Financial Results Highlight a 232% Growth in Profit Before Tax
Mobilink Bank exhibited an impressive growth trajectory in its financial performance during the first half of 2023, reflecting its unwavering dedication to excellence, as per the unaudited/unreviewed financial statements. With a 57% increase in total revenue, the Bank showcased its proficiency in both attracting and retaining customers, effectively adapting to the ever-evolving financial landscape. The…
Cars’ sale decreases by 58.65 % during FY 2023
The sale of cars witnessed a decrease of 58.65 per cent during the fiscal year 2022-23 as compared to the sale of fiscal year 2021-22, the Pakistan Automobile Manufacturing Association (PAMA) report said. As many as 96,812 cars were sold during July-June 2022-23 as opposed to 234,180 units during July-June 2021-22. The breakup figures showed…
Saudi Arabia deposits $2 Billion with SBP
The deposits would be a straight away increase in the country’s foreign exchange reserves and lift them to around $11.7 billion Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar said that the brotherly country Saudi Arabia has deposited $2 billion with State Bank of Pakistan (SBP), increasing the total foreign exchange reserves to…
FasalPay and Kissan Gudam collaborate to help improve the profitability of the farmers
In line with the vision of helping farmers increase their profitability, FasalPay, a leading agri-fintech platform and Kissan Gudam, the providers of advanced agri-storage technology have joined forces to maximize post-harvest value for the farmers. This collaboration aims to provide farmers with a comprehensive solution that encompasses crop storage, agri-inputs, and affordable agri-financing. Farmers in…
CPEC an inclusive platform for third parties to benefit from investment opportunities: Mumtaz Zahra Baloch
Pakistan reiterated that being an important node in cross regional connectivity, China Pakistan Economic Corridor (CPEC) was an inclusive and open platform for interested third parties to benefit from investment opportunities in its priority areas like industry, agriculture, IT, science and technology, and oil and gas sectors. The Foreign Office spokesperson Mumtaz Zahra Baloch, in…
National Bank of Pakistan selects PTCL for managed data centre hosting
Pakistan Telecommunication Company Limited (PTCL) and National Bank of Pakistan Limited (NBP) have signed an agreement for the provisioning of primary Data Center colocation services at PTCL’s Tier-III Data Center facility. Zarrar Hasham Khan, Group Chief Business Solutions Officer, PTCL & Ufone 4G and Amin Manji, Group Chief ITG & CTO National Bank of Pakistan,…
Karachi Port handled 41.85 million tons of cargo in FY 2022-23
The Karachi Port handled 41.85 million tons import and export cargo and 1.93 million TEUs containers during financial year 2022-23, and 51.71 million tons cargo and 2.21 million TEUs containers during the financial year 2021-22. Dry cargo, both import and export, closed at 30.63 million tons while the liquid bulk cargo, both import and export,…
KCCI rejects Nepra’s go ahead for FCA increase
Base tariff hike under IMF agreement to give serious blow to exports, local production: Tariq Yousuf President Karachi Chamber of Commerce & Industry (KCCI) Mohammed Tariq Yousuf, while referring to NERPA’s Public Hearing held on Wednesday, rejected the Regulator’s decision to give go ahead to K-Electric for raising Fuel Cost Adjustment (FCA) by Rs1.495 per…
DRAP to issue warning letters on barcoding violation
The Drug Regulatory Authority of Pakistan (DRAP) has issued a warning to all those pharmaceutical companies that are not printing barcodes on the packing of their products. This decision was taken by the Policy Board of DRAP. Chairing the board meeting, the Secretary of National Health Services has asked for a report on the implementation…