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Pak Suzuki suspends production for three days Suzuki Motors announced on Thursday that it will halt production for three days. The car group announced the operation of the car factory will stop from 24 October to October 26, 2022. Islamabad IT Park gets NOC from MoIT The State Bank of Pakistan (SBP) has introduced a […]
HUM Network has partnered with GS Group HUM Network Limited is pleased to announce that its wholly-owned subsidiary is HUM NETWORK FZ LLC. agreement with GS Group Inc. as a General Partner (GP) where GPs will work together to create and manage a fund called the Pakistan Catalytic Fund (PKF) with an expected fund size […]
PSX will suspend trading GTECH upon merger with GCIL The Pakistan Stock Exchange (PSX) has informed all interested parties that the trading of G3 Technologies Limited (GTECH) shares on the Ready Board will be suspended from Thursday 03 November 2022 for the claim to the shares of Ghani Chemical Industries Limited (GCIL). Lahore High Court […]
Fauji Cement’s expansion will make it Pakistan’s third-largest cement producer Fauji Cement Company Limited (FCCL) is undertaking two major expansions that will enable the manufacturer to become the second-largest cement producer in the northern region and the third-largest in Pakistan. Senior company officials announced the developments at a company meeting held on October 18 to […]
GTECH shareholders will receive 0.3 shares of GCIL Based on the proposed merger between GTECH and GCIL, the SWAP ratio is 0.30 shares of GCIL for each share of GTECH, as described by GTECH. Tax Up to 500% On Imported Cars to Protect Domestic Industry The right to issue GCIL shares to GTECH shareholders is […]
Tax up to 500% on imported cars to protect domestic industry Pakistan has increased tariffs and protective taxes by up to 500% to demoralize the flow of imported cars, which it believes makes local manufacturers less competitive while promoting their monopoly. The meeting, chaired by committee chairman MNA Noor Alam Khan, strongly recommended a review […]
Pakistan’s current account deficit narrows for the third consecutive month Pakistan’s current account deficit (CAD) narrowed to $0.3 billion in September from $0.7 billion in the previous month, the State Bank of Pakistan (SBP) said late Wednesday. Strict orders issued from PAC to Carmakers For the first quarter of the current fiscal year (FY23), the […]
K-Electric requests for huge reduction in bills K-Electric has submitted an application to the National Electricity Regulatory Agency (NEPRA) to reduce electricity rates by PKR 4.622 per unit for September 2022, announced on Tuesday. As per details, K-Electric has proposed a reduction of PKR 4.622 per unit while adjusting fuel costs for September. This will […]
Interloop earnings jump 85% in Q1 2023 Interloop Limited (ILP), a textile and apparel export company, posted a profit of Rs 4.96 billion in the first quarter of fiscal year 2022-23, beating industry expectations. According to the company’s financial results, profit increased by 85 percent compared to Rp 2.69 billion recorded in the same period […]
PACE to invest Rs500mn as advances in Pace Baraka! Today on Tuesday, PACE (Pace Pakistan Limited) filled the approval of equity investment of Rs500 million as advances in Pace Baraka Properties Limited on stock exchange. It added, the advantages is likely to accrue to the company shall include income on advances in the shape of […]