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Company News: Pakistan


In the decade after the 2003-04 deregulation of Pakistan's telecom sector, Pakistan Telecommunication Company Limited (KSE: PTC) - a long-time state monopoly that is now run by private management - continues to be the largest telecom carrier in Pakistan. PTC has held onto its multiple telecom licenses - eg fixed local loop (FLL - landlines), wireless local loop (WLL) telephony, mobile telephony (Ufone), long distance & international (LDI) telephony, and broadband.

Rizwan Ali Hamdani, Country Manager- Pakistan, has been a part of the Xpress Money family for almost a decade, successfully undertaking assignments both in the UAE and Pakistan. Rizwan is a home grown talent whose work is fuelled with passion to drive Xpress Money to the No 1 position in Pakistan. Through the years Rizwan, who believes in building sustainable relationships, has been responsible for progressively expanding Xpress Money's operations in Pakistan through partnerships with various financial institutions such as NBP, UBL, MCB, BOP, JS Bank, BOK, DIB, Tameer Microfinance Bank, PPCBL, Summit Bank, KASB, Telenor & Ufone amongst others over the past few years.
Al Baraka Banking Group (ABG) crossed a net income of $207 million in the first nine months of 2014, as compared to the corresponding period 2013. Similarly, statement of financial positions witnessed good increases. Total assets touched $22.5 billion and total equity crossed $2 billion at end of September 2014.
Mohammad Raza Saeed, the CEO of, holds a Bachelor's degree from LUMS and is determined to bring Pakistan into global IT map by launching ground breaking technology products that can have global impact. was formed in 2003 and has become the largest community based automobile website in Pakistan with more than 300,000 registered car and motorcycle enthusiasts. The website has around 18 Million pages viewed every month, where people search for classifieds, cars and motorcycles as well as discuss and share auto-related issues, information, pictures, videos, etc with other members.
JS Bank Limited (JSBL) was formed in 2006 by the merger of Jahangir Siddiqui Investment Bank (Ltd) and the commercial banking operations of American Express Bank (Pakistan) Ltd JS Bank Limited also possesses a Primary Dealer license for government securities from the State Bank of Pakistan.
Being in insurance business for over 60 years, IGI Insurance is the fourth largest private sector non-life insurer in Pakistan, holding a decent market share of 5 percent. It is headquartered in Karachi and is part of the renowned Packages Group. The company deals with local as well as with multinational enterprises and maintains presence in seven cities across the country. It caters to the needs of 4,000 corporate and 19,000 individual customers. According to the statistics published by the company, it settled 152,794 claims worth Rs 5,497 million during 2006-2013.
DG Khan Cement Company Limited (DGKC) was formed in 1978 as a private limited company under the management control of State Cement Corporation of Pakistan Limited. In April 1986, the company initiated its commercial production with 2000 tons per day clinker based on dry process technology. Later in 1992, the company was acquired by Nishat group as a result of privatisation initiative of the government and it was listed on the country's stock exchanges.


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln