Business

Suspension of Trading in Mughal Iron & Steel Industries Limited Sukuk [MUGHALSC] In a recent update from the Pakistan Stock Exchange (PSX), trading in the Sukuk of Mughal Iron & Steel Industries Limited, identified by the symbol [MUGHALSC], will be suspended due to the company’s book closure dates. Key Dates and Suspension Details Mughal Iron & Steel Industries Limited has …

A New Benchmark in Pakistan’s Renewable Energy K-Electric (KE) has set a new standard in Pakistan’s renewable energy sector with its 150-megawatt solar energy projects in Balochistan, achieving the country’s lowest-ever tariff bid. This milestone marks a significant shift in the nation’s energy generation approach, highlighting the growing trust in private sector-led initiatives, even in challenging economic times. Record-Low Tariff …

Introduction In a challenging economic environment, where many businesses in Pakistan struggle to stay afloat, Fast Cables, the nation’s largest power-cable manufacturer, has emerged as a beacon of resilience and growth. By consistently staying ahead of market demand and removing production bottlenecks, the company is positioning itself for significant expansion, both domestically and internationally. This blog post delves into the …

Textile and clothing exports from Pakistan contracted by 3.09% in the first month of FY25, reflecting the sector’s struggle to compete with regional rivals amid the implementation of harsh taxation measures. This downturn signals a challenging period ahead for the industry, which is grappling with high energy costs and government policies that have sparked concerns among top textile exporters. Impact …

State Bank of Pakistan (SBP) Governor Jameel Ahmad has expressed optimism about the country’s economic outlook, attributing the positive shift to effective measures implemented by the government and central bank. His message, delivered by Executive Director Muhammad Haroon Rasheed during Independence Day celebrations at the SBP, outlined significant improvements in macroeconomic indicators. Decline in Inflation and Reduction in Current Account …

Event Overview The second International Food and Agriculture Exhibition (FoodAg-2024) concluded on Sunday, with transactions totaling over $1.2 billion. Held at the Expo Centre, the three-day event saw the participation of more than 800 buyers from 75 countries. Over 330 exporters showcased more than 500 quality products, with China leading with the largest delegation of over 150 buyers. Key Outcomes …

Order Against Deceptive Marketing Practices The Competition Commission of Pakistan (CCP) has imposed a fine of Rs60 million on Unilever Pakistan for airing deceptive claims in television commercials promoting its hygiene and cleansing products, ‘Lifebuoy Soap’ and ‘Lifebuoy Hand Wash’. The fine follows proceedings related to a show-cause notice issued to Unilever for alleged violations of Section 10 of the …

The Pakistan Business Forum (PBF) has addressed a letter to Prime Minister Shehbaz Sharif, urging the development of a comprehensive long-term export strategy to support Pakistan’s economic growth. PBF President Khawaja Mehboobur Rehman highlighted the need for policy consistency and parliamentary endorsement to ensure stability and foster confidence among businesses, investors, and trade partners. Need for Policy Consistency The PBF …

Mari Petroleum Company Ltd (MPCL) has achieved a record-breaking financial performance for the fiscal year 2024 (FY24), reporting the highest-ever earnings of Rs77 billion. This represents a notable increase of 38% from the Rs56 billion earned in FY23. The company also declared a substantial final cash dividend, alongside an interim dividend of Rs232 per share for FY24, marking a payout …

In a significant financial milestone, The Hub Power Company (HUBCO) has reported its highest-ever Profit After Tax (PAT) of PKR 17.1 billion in the first quarter (1Q) of its fiscal year. This remarkable increase in profitability can be attributed to several factors, including the expansion of its portfolio and favorable currency exchange rates. Record-Breaking Earnings: HUBCO’s achievement of PKR 17.1 …