OGDCL declares over 15 percent decline in annual profit

Sep 28

Corporate, Energy

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 financial results submitted to Pakistan Stock Exchange (PSX), the company declared Rs100 billion after tax profit for the year ended June 30, 2020 […]

by Mrs. Anjum Shahnawaz

List of companies for pre-shipment inspection under import policy

Sep 28

Ports and Shipping

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 issued SRO 902(I)/2020 dated September 25, 2020 to notify the Import Policy Order 2020. Following are the name of the companies under Appendix-H […]

by Mrs. Anjum Shahnawaz

Stock market plunges by 960 points on political uncertainty

Sep 28

Stock & Commodity

Stock market plunges by 960 points on political uncertainty

The stock market witnessed a significant downturn on Monday, with the benchmark KSE-100 index of Pakistan Stock Exchange (PSX) plunging by 960 points amid mounting political uncertainty following the arrest of an opposition leader.

by Mrs. Anjum Shahnawaz

Rupee ends down by 10 paisas on import payment

Sep 28

Money & Banking

Rupee ends down by 10 paisas on import payment

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 Friday’s closing of Rs165.79 in the interbank foreign exchange market. The currency dealers said that the rupee was under pressure during the day […]

by Mrs. Anjum Shahnawaz

Agha Steel signs Rs10 billion worth sale agreement with Horizon Steel

Sep 28

Corporate

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 understanding (MoU) that ensures Agha Steel will reliably supply the intermediate steel product that the downstream steel industry uses as raw material. “Thanks […]

by Mrs. Anjum Shahnawaz

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

Sep 28

Finance, Stock & Commodity

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

The Asian Development Bank (ADB) has granted approval for a $300 million policy-based loan aimed at fortifying Pakistan’s finance sector.

by Mrs. Anjum Shahnawaz

SBP issues framework for cloud outsourcing arrangements

Sep 28

Money & Banking

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 Governance and Risk Management Framework for Financial Institutions (FIs)’ and BPRD Circular No. 06 of 2019 on ‘Framework for Risk Management in Outsourcing […]

by Mrs. Anjum Shahnawaz

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

Sep 28

Pakistan Customs

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 25, 2020 and notified Import Policy Order 2020 while repealing the previous Import Policy Order, 2016. The ministry through the policy order issued […]

by Mrs. Anjum Shahnawaz