Karachi, February 28, 2024 – Bank Alfalah, one of Pakistan’s prominent banking institutions, has set aside a substantial sum of Rs 3.6 billion as a precautionary measure in anticipation of potential windfall tax payments.
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Corporate sector insights covering business strategies, governance, finance, taxation, and regulatory developments shaping company performance.
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Pakistan Stock Exchange Registers 221% Profit Jump in 1HFY24
Karachi, February 28, 2024 – In a surprising turn of events, the Pakistan Stock Exchange (PSX) announced a remarkable 221 percent surge in net profit for the first half (July – December) of fiscal year 2023-24, according to the unconsolidated financial statement released on Wednesday.
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Circular Debt and High-Interest Rates Pose Challenges for PSO
Karachi, February 28, 2024 – Pakistan State Oil (PSO) is grappling with formidable challenges as circular debt and soaring interest rates have substantially increased financial costs, according to a report unveiled on Wednesday.
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OGDCL Reports Robust 30% Profit Growth in 1HFY24
Karachi, February 27, 2024 – The Oil and Development Company Limited (OGDCL) has delivered an impressive financial performance, announcing a significant 30% growth in net profit for the first half of fiscal year 2023-24.
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Habib Bank Launches HBL Zarai Services for Agri Development
Burewala, February 26, 2024 –Habib Bank Limited (HBL) unveiled its latest venture, HBL Zarai Services, in Burewala on Monday for advancing agricultural development and bolstering food security in Pakistan,
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UAE Conglomerate Expresses Interest in Acquiring TME Shares
Karachi, February 26, 2024 – TPL Trakker Limited, a prominent player in location-based services and fleet management, has disclosed that a UAE-based conglomerate is keen on acquiring a substantial equity stake in Trakker Middle East (TME), an associated company of TPL Trakker Limited.
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PSO Clarifies Greenfield Refinery Project Amidst Reports
Karachi, February 26, 2024 – Pakistan State Oil (PSO) addressed recent reports concerning the establishment of the Greenfield Refinery Project on Monday, seeking to provide clarity on the situation.
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UBL Hopes Positive Outcome in Rs 4.09 Billion SBP Penalty Case
Karachi, February 26, 2024 – United Bank Limited (UBL) is optimistic about a favorable outcome regarding the penalty of Rs 4.09 billion imposed by the State Bank of Pakistan (SBP), as disclosed in its annual financial statement for the calendar year 2023.
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Pakistan Petroleum Achieves Over 44% Profit Growth in 1HFY24
Karachi, February 26, 2024 – Pakistan Petroleum Limited (PPL) has announced a remarkable growth in net profit, exceeding 44% for the first half of the fiscal year 2023-24.
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Engro Corp Reports Impressive 35% Revenue Growth in 2023
Karachi, February 26 – Engro Corp, a leading Pakistani conglomerate, has announced a robust 35% growth in revenues, reaching PKR 482 billion in 2023.
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