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KARACHI: Pakistan rupee, on Wednesday, continued to lose ground against the US dollar in the interbank market, falling by Rs1.3 to conclude the day’s trade around a two-week low of Rs172.93 per US dollar. Over the previous five days, the local currency has shed roughly 1.71 percent. Interbank closing #ExchangeRate for today:https://t.co/Vq2BLWpi7F pic.twitter.com/7wWQYfKSoR — SBP …
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Karachi: Bank Alfalah, one of the largest private banks in Pakistan, and Adal Fintech, a Techlogix subsidiary focused on ‘Digital Financing,’ have collaborated to offer Digital Supply chain financing all over Pakistan. The scope of this alliance is to extend digital lending facility to the retailers in coordination with their suppliers. This solution enables the …
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Karachi: A delegation of senior industrialists and members of Karachi Industrial Forum visited K-Electric’s (KE) 900 MW Bin Qasim Power Station 3 (BQPS-III) on Monday and were apprised of the progress on the mega project, being set up at an estimate cost of USD 650 million. The delegation included 25 members of Karachi Industrial Forum …
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Karachi: Muhammad Azfar Ahsan on Tuesday has been appointed as Chairman Board of Investment (BOI) as the officials from Prime Minister officials reported. The newly appointed is a Pakistan-based visionary and champion for radical transformation. Over the past two decades, he has spent his time connecting businesses and thought leaders from around the world, studying …
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Karachi: Continuing the momentum of FY21, K-Electric has demonstrated sustained improvement in key operational indicators in the first quarter of FY22 ended September 30, 2021, resulting in a net profit of PKR 2.9 billion. These interim financial results were approved by KE’s Board of Directors on Thursday. These results have been achieved on the back …
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Karachi: K-Electric today strongly condemned the violence exacted against its employees in the Bela area, which has resulted in severe injuries to staff members. The incident occurred on Friday while KE teams were disconnecting an illegally installed Pole Mounted Transformer (PMT) which was being used to steal electricity. Reports indicate that area residents accosted and …
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Karachi: K-Electric release the statement about the honorable court decision on Mehmoodabad grid station, “With reference to the recent news reports about K-Electric Mehmoodabad Grid Station Case, the Honorable Supreme Court has dismissed the appeal on the ground that the Petitioners have come to the Court with unclean hands as the Petitioners are themselves residing …
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Karachi: From urban kiosks and rural farmers to fashion stores, service providers and entrepreneurs in countless other sectors, the small business segment in the United Arab Emirates has faced unprecedented changes in the wake of the COVID-19 pandemic, further fueled by the rapid acceleration of digital transformation and e-commerce. To support small and medium-sized enterprises …
Karachi l: FrieslandCampina Engro Pakistan Limited announced its financial results for the nine months ended September 30th, 2021. The Company reported net revenue of PkR 38.7 billion, representing 19% growth versus last year. This milestone was attained by developing new channels, increasing market penetration, improving route to market, and enhancing investment across brands. These initiatives …
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Karachi: A gradual and systematic approach is critical to ensure that the Government’s vision of an open electricity market can be achieved successfully. This was the consensus among an expert panel of key stakeholders and thought leaders who gathered to speak at a webinar on the ‘Liberalization of the Power Market in Pakistan’ under the …
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Karachi: In collaboration with NEPRA, Nutshell Group and Corporate Pakistan Group (CPG) is hosting a webinar today on Liberalization of Power Market in Pakistan at 03:00 pm – 05:00 pm. This webinar brings together relevant stakeholders, decision-makers and thought-leaders to discuss the upcoming changes in the power sector of Pakistan, its impact at length and …
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Karachi: K-Electric (KE) held its 111th Annual General Meeting (AGM) for FY 2021. With the on-going COVID-19 pandemic, the AGM was hosted virtually. The meeting was chaired by Shan Ashary – Chairman of the KE Board, with Moonis Alvi – Chief Executive Officer, KE also in attendance, along with Aamir Ghaziani – Chief Financial Officer, …
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Karachi: Recognizing the importance of sustainability as a driver of operational efficiency and innovation, K-Electric has signed a Memorandum of Understanding (MoU) to enlist in the United Nations Global Compact (UNGC), joining a network of over 14,000 companies across 162 countries working towards embedding sustainability in their core business operations. The MoU was signed between …
Islamabad: To help reduce energy poverty and make solar power more accessible especially for the unserved and underserved communities of Pakistan, NEPRA under its CSR drive “Power with Prosperity” has brought Akhuwat Islamic Finance (AIM), K-Electric and Engro Energy together who all signed a Memorandum of Understanding (MoU) today at NEPRA HQ, to offer interest-free …
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Karachi: FrieslandCampina Engro Pakistan Ltd, a leading dairy company with over 150 years of dairy expertise has joined the United Nations Global Compact to reinforce its commitment towards achieving the global Sustainable Development Goals (SDGs) and promoting responsible business. The UN Global Compact is the world’s largest corporate sustainability initiative, with more than 9,500 companies …
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Karachi: Achievements continue to rain for Pakistan’s premier technology services and solutions organization Systems Limited, as the company has won the 2021 Poll of Asia’s Outstanding Companies by Asia Money. Being the only IT company from Pakistan on the list, Systems Limited has won the accolade in two categories, namely Outstanding Company in Small/Mid-Caps and …
Karachi: K-Electric has received an overwhelming response from its customers for provision of uninterrupted power supply to the Karachiites during heavy rainfall in the city. Customers have expressed immense satisfaction over KE’s constant services and appreciated the work of its technical team. چھ سات گھنٹےسے مسلسل بارش کے باوجود بجلی کی بلاتعطل فراہمی پر کے …
Karachi: HBL and Dubai Islamic Bank Pakistan Limited (DIBPL) joined hands as mandated Lead Advisors and Arrangers for Eighteen (Elite Estates Pvt. Limited), a luxury housing development located in the twin cities of Islamabad and Rawalpindi. The initiative is one of the largest syndicated finance projects in the real estate sector with a funding of …
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Karachi: National Bank of Pakistan inaugurated a state-of-art, modern and fully technologically equipped Learning & Development Center at FTC Karachi on September 20, 2021 to provide latest and industry driven learning and development opportunities to its employees. The center aims to align staff goals and performance with the Banks strategy, objective and needs. The center …
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Karachi: The State Bank of Pakistan (SBP) has revised Prudential Regulations (PRS) for Consumer Financing. This targeted step will help to moderate demand growth in the economy, leading to slower import growth and thus supporting the balance-of-payments. The changes in the PRs effectively prohibit financing for imported vehicles, and tighten regulatory requirements for financing of …
KARACHI: Due to a supply of foreign currency during the day, the rupee recovered 20 paisas against the dollar on Tuesday, dealers said. The rupee closed the day at Rs168.52 per dollar, down from the previous day’s close of Rs168.72 in the interbank foreign currency market. During the day, the market saw inflows of export …
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Karachi: Minister for Maritime Affairs Ali Zaidi visited K-Electric’s Bin Qasim Power Station 3 (BQPS-III) on Monday and was apprised of the progress on the USD 650 million mega project which will add almost 900 MW of electricity to Karachi’s power supply. The meeting was also attended by the Chairman of Port Qasim Authority, Rear …
KARACHI: The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) is scheduled to announce the policy rate at 4:30 p.m. today (Monday). Due to the present economic scenario, experts predict that the interest rate will remain at 7%. SBP Governor Dr Reza Baqir stated in July’s policy statement that the policy rate …
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