Chinese ambassador to Pakistan visits Orange Line Metro Train project

Lahore: Chinese ambassador to Pakistan, H.E. Nong Rong, visited the Orange Line Metro Train depot at Dera Gujjran in Lahore on Friday, March 12, 2021. This was the first official visit of H.E. Nong Rong to the very first operational CPEC project in Pakistan. Top management officials from Norinco International… Continue reading

DELAYS IN INSPECTION OF GOODS BY ANF

Examination can be expedited but customs authorities reluctant to give WEBOC access: Brig. Waqar KARACHI: Commandant Anti-Narcotics Force (ANF) Brig. Syed Waqar Haider Rizvi has said that ANF’s examination procedure can be expedited if it was given access to WEBOC system which was being demanded since last three years but… Continue reading

Pakistan’s Liquid Foreign Reserves Position

The total liquid foreign reserves held by the country stood at US$ 20,157.9 million on 05-March-2021. The break-up of the foreign reserves position is as under: –   Foreign reserves held by the State Bank of Pakistan: US$ 13,016.1 million Net foreign reserves held by commercial banks : US$   7,141.8… Continue reading

Hisense Residential AC manufacturing facility in Karachi

Karachi: Tri-Angels Electronics Pvt. Ltd., Pakistan’s exclusive licensed company for the Hisense brand, has expanded its manufacturing capacity to include residential air conditioners. The facility has the capacity to produce 100K units of residential ACs annually with an investment of 1.3 million USD. The facility provides state-of-the-art testing rooms with latest… Continue reading

Press Release of Workers’ Remittances in February 2021

For the 9th consecutive month, workers’ remittances remained above $2 billion in February 2021. Workers’ remittances amounted to $2.266 billion in February 2021, around the same level as the previous month and 24.2 percent higher than in February 2020. During Jul-Feb FY21, workers’ remittances reached $18.7 billion, 24.1 percent higher… Continue reading

Carrefour Pakistan and Mortein join hands for a dengue-free Pakistan

Lahore: Pakistan’s No.1 choice brand against Dengue, Mortein, joined hands with Carrefour Pakistan, owned and operated by Majid Al Futtaim in Pakistan, to drive a nationwide awareness campaign against Dengue. The partnership will cover all Carrefour flagship stores across Karachi, Lahore, Islamabad and Faisalabad. This was announced during a press… Continue reading

SBP enhances Digitization Initiatives in Banks/MFBs

In order to promote digitization in the banking sector and encourage use of digital channels, SBP has   instructed (https://www.sbp.org.pk/psd/2021/C1.htm) all banks to provide minimum set of services on their Internet Banking (IB) and Mobile Banking (MB) channels. These services will include bill payments, funds transfer/IBFT, beneficiary management, limit management, credit… Continue reading

PIA starts distribution of cheques to VSS applicants

Karachi: The full amount payable to individuals under the PIA Voluntary Separation Scheme commenced on Wednesday and cheques were distributed to more than 100 VSS applicants at PIA head office. The cheques were distributed by Chief Financial Officer PIA, Khalil Ullah Sheikh, General Manager Accounting Zahid Karim, General Manager Funds… Continue reading

BankIslami Reports its Highest-Ever Profitability during 2020

KARACHI: BankIslami has reported its highest-ever profitability during financial year 2020. Profit after tax closed at Rs. 1.70 billion, up by 56% comparing with profitability of Rs. 1.09 billion during the financial year 2019. Despite downward adjustment in policy rate, net spreads of the Bank increased by 16% on account… Continue reading

CCP ISSUES SHOW CAUSE NOTICE TO HYUNDAI NISHAT MOTOR (PVT) LIMITED FOR DECEPTIVE MARKETING PRACTICES

ISLAMABAD: The Competition Commission of Pakistan (CCP) while concluding an enquiry has issued a show-cause notice to M/s Hyundai Nishat Motor (Pvt) Limited for, prima facie, deceptive marketing practices in the marketing campaign for its new SUV, “Hyundai Tucson,”, in violation of Section 10 of the Competition Act, 2010. The… Continue reading