President provides relief worth Rs1.9 m to bank fraud victims
President Dr Arif Alvi has provided relief to the two victims of bank fraud by ordering Bank Alfalah Ltd (BAL) to refund the defrauded money worth Rs 1.9 million to the respective account holders. The president also ordered the bank to educate its customers about internet banking, digital financial services and other safety measures to…
Adil Aziz
Petroleum sector gets Rs1,949.72 mln funds for 13 projects in nine months
The government has released funds amounting to Rs1,949.72 million to execute seven ongoing and six new petroleum-related projects during first nine months of the current fiscal year under the Public Sector Development Programme (PSDP 2021-22) against a total allocation of Rs3,249.54 million. Out of the total disbursement of Rs1,949.72 million, around Rs355.39 million have been…
Pakistan, Nigeria emphasize enhanced bilateral cooperation
Pakistan and Nigeria Thursday emphasized the need for increasing cooperation in various fields for the mutual benefit of the two countries. The bilateral ties were discussed during a meeting between the visiting Nigerian Defence delegation, led by General Lucky Eluonye Onyenuchea Irabor, Chief of Defence Staff Nigerian Armed Forces, and President Dr Arif Alvi here…
President lauds FTO role to facilitate traders’ calls for its enhanced outreach
President Dr Arif Alvi Thursday while lauding the Federal Tax Ombudsman (FTO)’s role for providing speedy relief to traders and businessmen, called for its enhanced outreach to the people. The president also underscored the need for creating awareness about its role in providing speedy justice to complainants against the maladministration of customs and tax authorities….
Fertilizer industry to enable over USD 5.3 billion import substitution
The local fertilizer Industry is providing urea at around 84 percent discount, equivalent to Rs 9,823 per bag and is expected to enable import substitution of USD 5.3 billion in 2022. Discussing the latest business results and future outlook in first quarter analyst briefing, Imran Ahmed – Chief Financial Officer of Engro Fertilizers shared that…
FrieslandCampina Engro Pakistan Limited posts strong financial results in Q1, 2022
FrieslandCampina Engro Pakistan Limited (FCEPL) announced its financial results for Q1 on April 20, 2022. The Company reported revenue of PKR 14 billion in the first quarter, showcasing 20.7% growth versus last year. The growth was led by improvement in the portfolio mix, coupled with an increase in volumes of both, the Dairy & Beverages…
Aptma urges government to announce Rs 8,000 Per Maund as Cotton Support Price
Pakistan is losing at least $ 5 billion directly on account of low production of cotton. Increase in cotton production will have a direct impact of $ 1 billion per 1 million bales and a 7 times multiplier impact on the fiscal flows in economy. Cotton provides livelihood and employment to millions of the poor…
HBL Q1 2022 Profit rises to Rs. 14.6 billion driven by strong business volumes
HBL today declared a consolidated profit before tax of Rs. 14.6 billion for the first quarter of 2022 and a profit after tax of Rs. 8.6 billion, both higher than in the same period last year. The Q1’22 results include a one-time severance charge of Rs. 2.6 billion. Excluding the impact of this one-time charge,…
MMBL partners with BaKhabar Kissan to foster a smart digital ecosystem for its growing Agri-customers across Pakistan
Pakistan’s largest digital bank, Mobilink Microfinance Bank Ltd (MMBL) has partnered with BaKhabar Kissan (BKK), a leading agri-tech enterprise that provides advisory services to small and medium farmers across the country. Through this strategic alliance, smart digital financial and agri-tech solutions will be offered to MMBL’s growing base of agri-customers to help farmers identify, assess…
Bank AL Habib declares Rs. 4.96 billion profit after tax
The Board of Directors of Bank AL Habib Limited (the Bank) announced the Bank’s financial results for the period ended 31 March 2022. The Bank posted profit after taxation of Rs. 4.96 billion i.e. an increase of 7.88 percent compared to corresponding period last year. The Bank’s profit before tax was recorded at Rs.8.18 billion,…