KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI), the collective voice of top foreign investors in Pakistan, has revealed the results of its annual “Corporate Social Responsibility (CSR) Report 2022”. The CSR survey results reaffirmed the OICCI members’ commitment in support of the socioeconomic development of the communities in which they operate in … Read more
FBR generates Rs6tr in taxes from July 1 to June 28 of FY22. Achieving almost 98.3% of the target. PTI claims this is first time in 20 years that FBR has surpassed its target. ISLAMABAD: Since the beginning of the current fiscal year 2021–22, the Federal Board of Revenue (FBR) has collected Rs6 trillion in taxes, … Read more
According to Goldman Sachs, the new investment cycle and ordering activity increased sharply in FY22, and the manufacturing sector, which has trailed for several years, increased 210 percent compared to 2020-21. In comparison to 2019-20, the manufacturing sector increased by 460 percent in FY22. Private-sector investment and CAPEX announcements increased by 145 percent year on … Read more
KARACHI: Pakistan’s current account deficit has clocked-in at $12.1 billion during the first eight months (July-February) of fiscal year 2021/22, compared with the surplus of $994 million during the same period of last fiscal year, according to data released by the State Bank of Pakistan (SBP). The import bill of goods and services sharply grew 47 per … Read more
KARACHI: The net profit of K-Electric Limited (KEL) declined 33.8 per cent to Rs9.4 billion, translating into the earnings per share (EPS) of one paisa during the quarter ended December 31, 2021, a bourse filing said on Thursday. The company posted a profit of Rs14.2 billion, translating into the EPS of 21 paisas in the … Read more
KARACHI: The profits of Pakistan State Oil (PSO) registered the earnings growth of 4.6x to Rs20.3 billion, translating into the earnings per share of Rs43.27 during the second quarter of the fiscal year 2022 ended in December 2021. The company’s profits were recorded at Rs4.03 billion translating into the earnings per share (EPS) of Rs8.85 … Read more
KARACHI: The unconsolidated profit of Attock Cement Pakistan Limited (ACPL) showed an increase of 56 per cent to Rs852 million translating into the earnings per share of Rs6.20 in the first half of fiscal year 2022, a bourse filing showed. The company’s unconsolidated profit was recorded at Rs545 million during the same period last year. … Read more
KARACHI: Pakistan’s textile exports witnessed an increase of 8 per cent month-on-month to reach a record high of $1.74 billion in November, a report by Topline Securities showed. During the month of November, the value added textile exports recorded a growth of 7 per cent month-on-month as the exports of ready-made garments recorded an increase … Read more
KARACHI: The Covid-19 pandemic has curtailed the bilateral trade with Pakistan, a Thai diplomat said. Ambassador of Thailand in Pakistan Chakkrid Krachaiwong said that with the ease in coronavirus cases, the trade volume is anticipated to cross $1.6 billion in the current fiscal year. Speaking at the ceremony to mark 70 years of diplomatic and … Read more
ISLAMABAD: Pakistan hopes to export meat and meat preparations worth $500 million by the end of the current fiscal year (FY22) after getting access to the Jordanian and Indonesian halal meat markets, officials said. The veterinary and animal health directorate of Jordan’s Agriculture Ministry allowed three Pakistani meat processing facilities to export bovine, sheep, goat … Read more
ISLAMABAD: The International Monetary Fund (IMF) has projected Pakistan’s real Gross Domestic Product (GDP) to grow 4 per cent in the current fiscal year (2021/22). In its recent report “World Economic Outlook October 2021” released on Tuesday, the IMF also endorsed the Pakistan’s provisional figures of GDP growth rate of 3.9 per cent during the previous … Read more
KARACHI: State Bank of Pakistan (SBP) Governor Dr Reza Baqir said that the national economy is poised to witness a continued recovery in FY22 given the resilience in the economy and the measures taken during Covid-19 pandemic situation to support the businesses and people. The recovery could already be seen in the more than expected … Read more
KARACHI: Pakistan has rejected the International Monetary Fund’s (IMF) demand of taking budgetary measures worth Rs700 billion, to avoid putting additional burden on the existing taxpayers, a government official said on Friday. In his speech at the Senate about the Federal Budget 2021/22, Finance Minister Shaukat Tarin said the Pakistan authorities had informed the IMF … Read more
