ECC Okays to encourage foreign investment in the new LNG terminals
Cabinet to Okay private investment in LNG Terminals
Adil Aziz
President appoints Jameel Ahmed as Governor State Bank
President Dr. Arif Alvi has approved the appointment of Jameel Ahmed as Governor State Bank of Pakistan, the President House said Friday The President gave the approval on the advice of the prime minister under Article 48(1) of the Constitution and in line with Section 11-A (1) of the State Bank of Pakistan Act.
Securities & Exchange Commission of Pakistan introduces digital-only insurers and microinsurers
The Securities and Exchange Commission of Pakistan (SECP) Thursday introduced registration regime for digital-only insurers and dedicated microinsurers. This will promote digitalization and improve customer convenience through instant provision of services. In this regard, amendments to the Insurance Rules, 2017 have been notified vide SRO 1513(I)/2022, said a press release issued here. The new framework…
Government lifts ban on import of non-essential goods
Federal Minister for Finance and Revenue, Miftah Ismail here on Thursday announced lifting of ban on import of non-essential and luxury goods on the demand of International Monetary Fund (IMF), however said that the Regulatory Duties (RDs) would be enhanced manifold to discourage import of such products. “It is requirement of international community that there…
UNIDO organized first ever Energy Performance Awards in Pakistan
United Nations Industrial Development Organization (UNIDO) organized a first-ever Energy Performance Awards 2022 in Pakistan to honor high achievers in energy-intensive industries. The event was graced by Federal Minister of Industries and Production Syed Murtaza Mahmud, who as the chief Guest distributed awards among the winners. Minister in his remarks said, “It is heartening to…
Exports up by 32.49 per cent to Rs.494.7 billion in July
The exports from the country in rupee term witnessed an increase of 32.49 per cent during the first month of current fiscal year (2022-23) as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported. The exports during July 2022 were recorded at Rs. Rs.494,720 million as against the exports of…
Allied Bank posts Rs20.118 Billion profit before tax
Allied Bank (ABL) continued its focus towards enriched technological infrastructures and digitally-induced financial offerings assisting in creating sustainable growth and value for the stakeholders. Thereby, contributing in achieving robust financial position with stable profitability. Positive volumetric growth in average earning assets coupled with positive rate variance assisted in 64% increase in mark-up income to reach…
CPEC is the future of Pakistan: Zubair Hayat
China Pakistan Economic Corridor (CPEC) is the future of Pakistan, which will bring immense strategic benefits to Pakistan but a national consensus and political will is needed to move forward on the account to the next level. This was stated by Zubair Mahmood Hayat, Former Chairman of the Joint Chiefs of Staff Committee while speaking…
Shell Pakistan to discontinue its aviation operations across Pakistan
The Board of Directors of Shell Pakistan Limited (SPL) announced the Company’s half year results on August 17th, 2022. The Company posted a profit after tax of PKR 7,469 million compared to the profit of PKR 2,153 million made in the same period last year. The encouraging turnaround is mainly driven by improved business performance…
MCB’s Profit BeforeTax increased by 30% for the half year ended June 30, 2022
The Board of Directors of MCB Bank Limited (MCB) in its meeting under the Chairmanship of Mian Mohammad Mansha, on August 17, 2022, reviewed the performance of the Bank and approved the interim financial statements for the half year ended June 30, 2022. The Board of Directors has declared a 2nd interim cash dividend of…