The Oil and Gas Development Company Limited (OGDC) has made a significant discovery of additional natural gas reserves in the Sindh province. This discovery marks a positive development in Pakistan’s energy sector, contributing to the country’s efforts to meet its growing energy demands and enhance self-sufficiency in the production of natural resources. The OGDC’s exploration…
The International Monetary Fund (IMF) has urged Pakistan to enhance transparency regarding its development spending. The call for increased openness comes as part of the ongoing dialogue between Pakistan and the IMF, emphasizing the importance of clear and comprehensive reporting on how development funds are utilized. Key Points: IMF’s Emphasis on Transparency: The IMF underscores…
In a significant legal development, the Sindh High Court (SHC) has dismissed a petition filed by a prominent tractor manufacturer regarding tax refund claims. The court’s decisive ruling implies that the claims made by the tractor maker will not receive further consideration. The dismissed petition by SHC sought relief for what the tractor manufacturer argued…
FrieslandCampina Engro Pakistan Limited (FCEPL) announced its financial results for the year ended December 31, 2023. The Company continued its growth trajectory and delivered another record year with the highest-ever top line and operating profit. This was in the face of a challenging macroeconomic environment and intense competition. The Company achieved a remarkable milestone, surpassing…
PTCL Group, Pakistan’s leading telecom and ICT services provider has achieved a double-digit revenue growth of 25.8% during the financial year 2023. PTCL Group has maintained its strong performance, strengthening its status as Pakistan’s top integrated telecom service provider. Pakistan Telecommunication Company Limited (PTCL), posted 15.4% growth in its revenues, owing to its strong performance…
EDOTCO Pakistan, a key player in the telecommunications infrastructure industry marked a significant stride in its dedication to Corporate Social Responsibility (CSR) in 2023. The company’s commitment to enriching underprivileged communities, particularly in areas with limited access to grid power, culminated in the successful execution of the Tower to Community (T2C) initiative. The visionary project,…
The year 2023 witnessed a challenging period for car and house financing within the financial sector, marking a downturn in the performance of these key segments. Various economic factors and industry-specific challenges contributed to the unfavorable conditions, prompting a critical review of the trends and dynamics shaping the landscape of car and home loans. In…
Engro Fertilizers, Pakistan’s premier seed-to-harvest solutions provider, achieved record urea production of 2.3 million tons in 2023 to support the Government’s efforts of ensuring affordable and abundant supplies for the farmers. The Company was able to achieve this feat and continued to play a pivotal role towards enabling the food security of Pakistan, amidst the…
easypaisa, Pakistan’s leading digital financial services platform, has announced a strategic partnership with Dukan, a leading e-commerce infrastructure solution. This collaboration aims to deliver a seamless and efficient ordering and digital payments experience for consumers under the easypaisa MiniApps umbrella. Driven by its vision of revolutionizing the financial services landscape of Pakistan, easypaisa is committed…
The Economic Coordination Committee (ECC) has granted approval for the imposition of a 25% sales tax on locally manufactured vehicles, marking a significant development in the country’s fiscal policies related to the automotive industry. This decision, aimed at enhancing revenue streams and regulating the domestic vehicle market, is poised to have substantial implications for both…
