In its latest Business Confidence Index Survey (BCI) – Wave 24, the Overseas Investors Chamber of Commerce and Industry (OICCI) unveiled a promising upswing in Pakistan’s business confidence. Conducted from October to November 2023, the survey indicated a seven percent overall improvement compared to the previous wave in March to April 2023. The survey paints…
In a significant development for Islamic finance, Meezan Bank, Pakistan’s leading Islamic bank has joined hands with SAFCO Microfinance Company Private Limited (SMCL) to establish its inaugural Islamic microfinance branch, operating under the brand name ‘Yaqeen’ in Hyderabad, Pakistan. This milestone reflects the collaborative effort between the two entities, with Meezan Bank playing a pivotal…
“Climate change is a global issue but in Pakistan’s case it is evident that climate change is happening now and not a phenomenon that only our future generations will experience,” said Amir Paracha, OICCI President at the 2nd Pakistan Climate Conference on November 01. This is the second consecutive year that the OICCI has organized…
Central Depository Company (CDC) has collaborated with the State Bank of Pakistan (SBP) to allow investors to purchase mutual funds units using SBP’s RAAST Payment Gateway. CDC has developed a framework where it acts as an “Aggregator” and issues a Raast Payment ID, enabling investors to digitally transfer funds, using Raast, to the respective Asset…
Caretaker Finance Minister Dr Shamshad Akhtar has asked OICCI to support government’s endeavors to encourage foreign direct investment and invest in export-based industries to support countries development and contribute to strengthening balance of payments in a sustainable manner. She shared these views while speaking to OICCI members during her visit to OICCI. She was accompanied…
The Overseas Investors Chamber of Commerce and Industry (OICCI) unveiled details for the Pakistan Climate Conference (PCC) 2023, scheduled to take place on November 1, 2023. This is the second consecutive year that the OICCI is organizing a multi-stakeholder dialog to propose collective solutions for Pakistan’s climate emergency. Starting from 2022, the Pakistan Climate Conference…
Engro Powergen Qadirpur Limited (EPQL), a subsidiary of Engro Energy Limited, received a vote of confidence from the VIS Credit Rating Company Limited (VIS) as the entity’s ratings were reaffirmed at ‘AA-‘ for long-term and ‘A-1’ for the short term. The latest press release from VIS highlights EPQL’s strong creditworthiness, supported by a stable future…
In a remarkable financial performance, Hub Power Company Limited (PSX: HUBC) has announced nearly double the profits for the first quarter of fiscal year 2023-24, positioning itself as a standout in the energy sector. The company’s after-tax profits surged to Rs18.32 billion [EPS: Rs13.17], an impressive jump from the Rs9.47 billion [EPS: Rs7.01] reported during…
Out of 28,920 female engineering graduates, 8,146 (28%) were employed, 6,054 (20.9%) unemployed and 14,720 (50.9%) were out of labour force: Gallup & Pride Research reveals Analysis of the labor force survey 2020-21 reveals that approximately 70% of female engineering graduates residing in the country are either unemployed or out of the labor force. Out…
National Resources Limited (NRL) has received an exploration lease for minerals in Chagai district, Balochistan. NRL, a subsidiary of YB Pakistan Limited, Reliance Commodities (Pvt.) Limited and Liberty Mills Limited leased out an area of 500 Sq. km in the Chagai area. NRL had applied for a lease in early 2022 and the lease has…
