OGDCL declares over 15 percent decline in annual profit

KARACHI: Oil and Gas Development Company Limited (OGDCL) on Monday announce financial results and declared over 15 percent decline in annual profit mainly because of lower sales during the year. In its... Read more »

List of companies for pre-shipment inspection under import policy

ISLAMABAD: The ministry of commerce has issued list of companies for pre-shipment inspection as envisaged in different provisions of Import Policy Order, 2020 shall be done in the exporting country. The ministry... Read more »

Stock market plunges by 960 points on political uncertainty

KARACHI: The stock market plunged by 960 points on Monday owing to political uncertainty after the arrest of the opposition leader. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at... Read more »

Rupee ends down by 10 paisas on import payment demand

KARACHI: The Pak Rupee ended down by 10 paisas against dollar on Monday owing to demand for import and corporate payments, dealers said. The rupee ended Rs165.89 to the dollar from last... Read more »

Agha Steel signs Rs10 billion worth sale agreement with Horizon Steel

KARACHI: Agha Steel Industries is going to sell 100,000 metric tons of low-carbon billets worth approximately Rs 10 billion per annum to Horizon Steel. The two companies have signed a memorandum of... Read more »

ADB approves $300 million to strengthen Pakistan’s capital market

KARACHI: The Asian Development Bank (ADB) on Monday approved a $300 million policy-based loan to help strengthen Pakistan’s finance sector by supporting measures to develop competitive capital markets and encourage private sector... Read more »

SBP issues framework for cloud outsourcing arrangements

KARACHI: State Bank of Pakistan (SBP) has issued framework for financial institutions outsourcing to cloud service providers (CSPs). The SBP said that to BPRD Circular No. 05 of 2017 on ‘Enterprise Technology... Read more »

Ministry issues procedure for imports under personal baggage, transfer of residence, gift scheme

ISLAMABAD: The ministry of commerce and issued procedure for imports and customs clearance under schemes including personal baggage, gift and transfer of residence. The ministry of commerce issued SRO 902(I)/2020 dated September... Read more »