Its Warids tenth anniversary and it can smile at the occasion. A year and a half ago, the fifth-ranked telco didn look likely to stick around for long. Warid had earlier been put up for sale twice by its parent, the Abu Dhabi Group, only to find hesitant suitors. It avoided the 3G/4G spectrum auction that took place in April last year. While all other operators launched 3G services by mid-2014, Warid lurked in a corner.
Housed mostly in Sialkot and Karachi, the leather industry is one of Pakistan's most salient SMEs. As of the month ended April, it formed nearly 4.5 percent of total exports, as per SBP data. However, as is the case with most our industries, leather has not been in the best shape.
Earlier this week the USDA released its annual report on World Agricultural Production, highlighting a decline in global wheat production of around 5 million tons to 721 million tons through FY16. Similarly, the International Grains Council also expects a decline of 6 million tons as per its own estimates.
If the statements of the Federal Commerce Ministry and the Board of Investment are anything to go by (in this case they are!), it is evident that a bilateral investment treaty (BIT) between Pakistan and the United States of America is not on the cards any time soon.
Every few months, K-Electric Limited collects some goodies that provide a fillip to the firms growth. And to do that in the power sector that is laden with unrelenting challenges is not easy. The firm has some key happenings to its credit that have built up excitement in its stocks.
Unexpectedly, the Punjab government has reportedly withdrawn the 19.5 percent sales tax on internet services. This reversal, less than two weeks after the taxs imposition, has been brought about thanks to advocacy of online community and behind-the-scene efforts of PTA, the telecom regulator.
Construction is one of the sectors, which were lucky enough to get major relief in the Federal Budget 2015-16. According to the budget document the minimum tax on builders, levied on the business of construction and sale of residential and other buildings, is proposed to be exempted until June 30, 2018.