Aftab Ahmed Islamabad: M/s Fly Jinnah Services Limited has decided to launch a regular public transport airline in Pakistan that will be one of the companies to launch service. The aviation division has recommended allowing it to launch regular operations in Pakistan. The group of businessmen in Pakistan is going to launch an airline. There…
Aftab Ahmed Islamabad: The fertilizer companies in Pakistan has sought to approve the release of Rs 55 billion in the upcoming budget 2021-22 on account of GST refunds and pending past subsidy amount from 2016 to 2018. Moreover, the fertilizer companies also demanded from the government of Pakistan to rationalize the input-output adjustment formula of…
Aftab Ahmed Islamabad: Pakistan Business Council (PBC) has proposed to reduce taxes on the import of machinery and several other measures in the upcoming budget to boost industrialization. It suggested reducing the rate of sale tax, custom duties on machinery import. It further asked to abolish regulatory duty (RD) on the Tyre industry and competitive…
Aftab Ahmed Islamabad: The higher steel prices in Pakistan have pushed the profitability of the steel companies up, mainly due to improving margins and selling prices. During 3QFY21, the accumulative profitability of selected steel companies rises to Rs7.7 billion compared to Rs7.0 billion in 2QFY21, mainly due to higher selling prices in Pakistan today. The improving…
Balochistan Mineral Exploration Company (BMEC) receives an unsolicited proposal from a domestic joint venture consortium to develop Tanjeel & Rekodiq reserves in Chagai Special Report Quetta: Balochistan Mineral Exploration Company (BMEC) – a JV of Government of Balochistan (90%) and Government of Pakistan (10%) and the concession holder of EL199 (consisting of Rekodiq & Tanjeel…
Aftab Ahmed Islamabad: The cement industry in Pakistan has posted record profits of Rs18.4bn in 3QFY21, up 63% QoQ. Last year during the March quarter, the sector posted a loss of Rs5.8 billion. On a sequential basis, the profitability increase of the cement industry in Pakistan was led by a 209% QoQ increase in profits…
Aftab Ahmed Islamabad: At a time, when Pakistan has laid an ambitious plan to introduce electric vehicles, around 50 percent of EV drivers in California have switched to gasoline. That may not be good news for the EV industry that is growing now. The government of Pakistan had also approved an EV policy that offers…
LAHORE: The Coca-Cola Export Corporation, Pakistan has appointed Ayesha Sarwari to lead public affairs, communications and stability for the region of Pakistan and Afghanistan. Ayesha brings more than 18 years of experience in communications, public relations, and industry and stability in many areas of government. His early career in the United States was with international…
Aftab Ahmed Islamabad: Tesla cars are affordable? This is what people are talking about. No matter, you can afford these cars or not, it has beaten the expectation of experts in its recent financial results. The share price of tesla went down more than 1 percent on stock trading soon after its results. However, earnings stood…
Aftab Ahmed Islamabad: The increase in DAP price, increased margins, and offtake have turned Fauji Fertilizer Bin Qasim Limited (FFBL) from a loss into a profit of Rs 1.3 billion during 1QCY21. The higher sale price of DAP had pushed the margins of the company higher. The company had registered a loss of Rs 3 billion…