Business

The Utility Stores Corporation has made full preparation for Ramazan relief package to provide maximum relief to the poor masses across the country during the holy month. This was stated by a spokesperson of the Corporation in a news release in Islamabad on Wednesday. He said ample supply of all…

SECP pledges to continue to promote gender diversity and women participation in the corporate sectorISLAMABAD, March 8: The Securities and Exchange Commission of Pakistan (SECP) celebrated International Women’s Day with a pledge to continue efforts to improve female representation in the corporate sector of Pakistan.Former SECP Commissioner Sadia Khan graced…

President of Bank of Azad Jammu and Kashmir Mr. Khawar Saeed visited the field offices and branches of the institution in Mirpur the other day.On the occasion of visiting the Regional Office, Credit Administration Division Office, Main Branch, Kotli Road Branch, Ladies Branch , he reviewed the professional activities of…

Members of the Male Champions of Change Pakistan Group release their first progress report, providing transparency and accountability for their individual and collective actions taken to accelerate gender equality, and women’s representation in their organisations. The Male Champions of Change Pakistan 2022 Progress Report presents the 2022 results for Member…

On the occasion of International Women’s Day, Careem announces plans to launch a new women-driven motorbike service, catering exclusively to its female customers. The service will commence in Karachi and make its way to other cities in Pakistan. Careem welcomes registrations from women who are interested in working as a…

The Corporate Philanthropy Awards 2023 ceremony, organized by Pakistan Centre for Philanthropy (PCP) on 7th March at Marriott Hotel Karachi was chaired by Mr. Akif Saeed, Chairman Securities and Exchange Commission of Pakistan (SECP). While addressing the event, Mr. Akif Saeed said that the business sector should be encouraged, supported…

“As the apex regulator of the corporate sector and capital markets in Pakistan, SECP facilitates an inclusive economic and work environment”, said SECP Chairman Akif Saeed. He informed that females in senior management positions at SECP now account for 38% while 51% of all new recruitments in the last year…

Commerce Minister Syed Naveed Qamar has expressed hope that after revival of the program by IMF Board, the reserves would increase with inflow from friendly countries and international banks. In a statement, he said the revival of the program alone is not a panacea for all ills, rather; we need…

Ahsan Zafar Bakhtawari President, Islamabad Chamber of Commerce and Industry (ICCI) leading a delegation met with Chairman PEMRA Muhammad Saleem Baig in his office and discussed with him the plan of starting an ICCI radio and TV channel. Wakil Khan, Director General Licensing, PEMRA was also present on the occasion.…

President Islamabad Chamber of Commerce Ahsan Zafar Bakhtawari rejected the 3% increase in interest rate. Responding to the increase in the interest rate, President Islamabad Chamber said that increasing the interest rate to 20% will hinder industrial development. Ahsan Zafar Bakhtavari said that the decision to increase the interest rate…

The Securities and Exchange Commission of Pakistan (SECP), organized a financial reporting workshop on Non-Banking Microfinance (NBMF) sector, in light of new regulatory requirements outlined under Circular 15. The aim of this interactive workshop was to apprise participants on the measures taken for the promotion of the sector and to…

A delegation of Executive Directors of the Asian Development Bank (ADB) of Japan, China and South Korea called on Prime Minister Shehbaz Sharif here Tuesday and renewed ADB’s resolve to continue working closely with Pakistan in addressing its economic challenges. The prime minister lauded ADB’s longstanding association with Pakistan and…

Yasser Iqbal, Mayor of Pendle of Lancashire County said that he would play a role to further increase bilateral trade ties between Pakistan and UK as both countries have good potential to do trade in many items for mutual benefit. He said this while exchanging views with Ahsan Zafar Bakhtawari,…

The Securities and Exchange Commission of Pakistan (SECP) held a thematic workshop to demonstrate the prototype of re-designed digital regulatory processes for Limited Liability Partnership (LLP), company registration and filing, and compliance. Under its digitalization program, “Leading Efficiency through Automation Prowess (LEAP),” the SECP has identified key business processes that…

In a positive development, the State Bank of Pakistan-held (SBP) foreign exchange reserves registered a major boost on Friday as the nation received $700 million from the China Development Bank (CDB). Pakistan has been struggling to pay off its extraordinarily high levels of external debt and barely has enough dollars…

Faysal Bank Limited (FBL) achieved the landmark of Rs. 1 trillion in Balance Sheet footings with a record Profit Before Tax of Rs. 22.4 billion, 67% higher than the last year. The Board of Directors of FBL, in their meeting held on February 23, 2023, approved the financial statements of…

The Securities and Exchange Commission of Pakistan (SECP) has released a diagnostic report to document key issues and challenges for Islamic finance in the non-bank financial sector. The report also takes stock of the current state of development of Islamic finance in the country and contains specific recommendations for its…

In a boost to the forex reserves, Finance Minister Ishaq Dar announced on Wednesday that the Board of China Development Bank has approved a $700 million facility for Pakistan. “This amount is expected to be received this week by State Bank of Pakistan which will shore up its forex reserves!” tweeted…

FrieslandCampina Engro Pakistan Limited (FCEPL) signed a Letter of Intent (LOI) with International Trade Centre (ITC) for Growth for Rural Advancement & Sustainable Progress (GRASP) in Karachi.Growth for Rural Advancement & Sustainable Progress (GRASP) is a European Union-funded project implemented by ITC with its partners, in 12 districts of Sindh…

The Chairman, Securities & Exchange Commission of Pakistan, Akif Saeed met with representatives of the brokerage industry to deliberate successful re-launch of New Trading System (NTS) at Pakistan Stock Exchange (PSX). The Chairman was accompanied by Commissioner SECP, Mr. Abdul Rehman Warraich and the SECP team, including Ms. Musarat Jabeen,…

The proposed unprecedented tax hike for the tax-paying tobacco companies will effectively favor the already vast illicit cigarette manufacturers in Pakistan. This will also lead to significant shortfalls in Government revenue as the volumes will massively shift from the tax-paid sector to the non-tax-paid sector as often seen in the…