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K-Electric CEO Syed Moonis Abdullah Alvi has publicly addressed recent controversial remarks made by a Pakistan Tehreek-e-Insaf (PTI) member about the attire of a female employee at the company. Alvi took to X, formerly known as Twitter, to express his disappointment over the comments and to reaffirm KE’s commitment to gender equity in the workplace. …
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Gold prices in Pakistan surged to a new record on Friday, with an increase of Rs. 300 per tola, bringing the price to an unprecedented Rs. 257,700 per tola. The price for 10 grams of gold also saw a rise of Rs. 256, reaching Rs. 220,936. The Karachi Sarafa Association, which monitors local gold rates, …
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The National Savings Division conducted the much-anticipated Rs1500 Prize Bond Draw No. 99 on 15 August 2024 in Multan, a day marked with excitement and hope for thousands of Pakistanis. The event, held under the vigilant supervision of the State Bank of Pakistan, saw numerous participants eagerly awaiting the announcement of the winning numbers. Top …
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Prime Minister Shehbaz Sharif extended Independence Day greetings to the nation and announced plans for a significant reduction in electricity tariffs in the coming days. This move comes in response to widespread concerns about high electricity bills, which the Prime Minister acknowledged as one of the most pressing issues facing the country. He emphasized that …
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Sindh’s Minister of Local Government, Saeed Ghani, emphasized that individuals spreading hatred within the country are not true well-wishers of Pakistan. Speaking at a flag hoisting ceremony organized by the Korangi Association of Trade and Industry (KATI) on the occasion of Pakistan’s 77th Independence Day, Ghani expressed concern that despite the nation’s long-standing history, the …
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The federal government has launched a series of initiatives aimed at reducing electricity tariffs, acknowledging the severe financial challenges facing the country’s power sector. This move comes as part of a broader effort to address the structural issues plaguing the sector, which has long been a source of concern for both policymakers and the public. …
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Pakistan may witness another notable reduction in petrol prices starting August 15, following a decline in global oil prices, Day News reported on Monday, citing sources. According to the sources, the price of petrol could decrease by over Rs9 per litre, while high-speed diesel (HSD) may see a reduction of up to Rs8.50 per litre. …
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The Chief Minister of Sindh, Syed Murad Ali Shah, visited Indus Motor Company’s (IMC) manufacturing facility at Port Qasim Authority, Karachi on 12th August 2024, underscoring Sindh government’s commitment to continue fostering large-scale industrial growth in the province. During his visit, Chief Minister Shah toured IMC’s state-of-the-art manufacturing facility and was briefed on the latest …
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The Korangi Association of Trade and Industry (KATI) has called on the government to immediately release a pending PKR 33 billion electricity subsidy crucial for Karachi’s industrial sector. Addressing an emergency press conference, KATI President Johar Qandhari emphasized the urgent need to address the discrimination faced by Karachi’s industries, which have been deprived of a …
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The government is planning to impose a price equalization levy, also known as a surcharge, on the gas produced at wellheads. This move aims to help cover the costs of subsidies for residential consumers and certain industrial sectors, easing the burden on the federal budget by Rs10-15 billion each year. This initiative is part of …
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Prime Minister Shehbaz Sharif announced on Friday that the next phase of the Pak-China ties will focus heavily on business-to-business (B2B) partnerships, particularly in the industrial sector. Speaking to representatives of international companies operating in Pakistan, he emphasized the importance of transforming the close friendship between Pakistan and China into deeper economic cooperation. The Prime …
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The National Electric Power Regulatory Authority (Nepra) has announced an increase in electricity tariffs by Rs 2.56 per unit. This hike, effective from August, is expected to generate an additional Rs 33 billion from consumers across Pakistan. The new tariff is part of the monthly fuel cost adjustment (FCA) for June and will be reflected …
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Federal Tax Ombudsman Dr. Asif Mahmood Jah has announced the opening of a help desk at the Korangi Association of Trade and Industry (KATI) to address tax issues faced by industrialists. This initiative aims to raise awareness among the public and business community about the services offered by the Federal Tax Ombudsman (FTO). Dr. Jah …
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The trade relationship between Pakistan and Morocco holds significant promise, as noted by Ambassador Mohamed Karmoune of Morocco. Speaking at a meeting with industrialists at the Korangi Association of Trade and Industry (KATI), the Ambassador expressed optimism about increasing the current trade volume to over $232 million. The event saw the participation of key figures …
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At a recent event in Karachi, Malik Tahir Javaid, President of the Employers Federation of Pakistan (EFP), highlighted the importance of responsible business practices. He emphasized that these practices promote decent work, enterprise sustainability, and social justice. The occasion was the National Conference on Responsible Businesses and the 10th Employer of the Year Award Distribution, …
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The government is considering easing the income tax burden on salaried individuals earning up to Rs100,000 per month, according to sources within the finance ministry. Prime Minister Shehbaz Sharif has tasked his finance team with exploring various options to provide this relief. This development comes as the Pakistan Muslim League-Nawaz (PML-N)-led coalition government faces mounting …
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Prioritizing Industrial Development: KATI’s Urgent Plea to Sindh Govt Karachi – The Korangi Association of Trade and Industry (KATI) plea the Sindh government to give top priority to the allocation of development budgets for industrial zones. Johar Qandhari, President of KATI, emphasized this need, especially considering past practices. Congratulating the New Ministers Qandhari extended congratulations …
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SECP Guidelines Issued for Digital Lenders: Enhancing Borrower Protection The Securities and Exchange Commission of Pakistan (SECP) has issued guidelines to NBFCs engaged in digital lending. SECP guidelines digital lending aims to ensure best practices in advertisements and call centre management. This significant move underscores the SECP’s commitment to regulating the digital lending sector effectively. …
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SBP Maintains 22% Policy Rate: Monetary Policy Statement In its recent announcement, the State Bank of Pakistan (SBP) upheld the policy rate at 22 percent after careful evaluation of economic conditions. The announcement was made after the meeting of Monetary Policy Committee in Karachi on Monday March 18, 2024 Despite a decline in inflation since …
Karachi: Deputy Governor of the State Bank, Saleem Ullah during his address at the 2nd National Islamic Economic Forum condemned interest-based loans as a form of oppression, emphasizing the need for a rapid shift towards Islamic banking in Pakistan. The forum, held in collaboration with Saylani Welfare International Trust and Darul Uloom Memon at a …
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Karachi: Adeel Siddiqui, Coordinator of Businessmen Panel Progressive (BMPP), attributed the clean sweep in the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) elections to the pivotal role played by the Chambers of Commerce & Industry of Sindh, supported by the Associations. He highlighted that the successful candidates achieved a significant margin, securing over …
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Due to quality issue of kinnow, the export of kinnow worth USD 22 million from Pakistan is in jeopardy, Season’s span of 5 months has shrunk to 1.5 months, 50% Kinnow processing plants have shut down, Significant drop in exports’ orders, a big question mark on Rs.300 billion invested in the Kinnow processing plants & …
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Karachi: The United Business Group (UBG) and Businessmen Panel Progressive (BMP) emerged victorious in the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) elections for the term 2024-25, with a majority of their nominated candidates succeeding in various key positions. Unofficial results, disclosed late Saturday night, revealed a sweeping success for UBG and BMP …
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