Business & Economy

The case has been registered at the Judicial Magistrate South-1 Karachi under Section 154 Code of Criminal Procedure. The case has been registered after a complaint was filed by Syed Tahir of Pak China Fertilizers Limited against Rafiq Bhojani and three others regarding illegal transfer of shares of M/s Pak China Fertilizers by fraudulent manner through electronic means by using fake electronic data, according to the FIA report.

The enquiry by the Secretary of the company started after receiving an alarming letter from shareholder of Pak China Fertilizer, National Fertilizer Corporation of Government of Pakistan, who hold 1,880,000 shares of Pak China Fertilizers Limited. In the letter addressed to the Company Secretary, NFC requested Company Secretary to reply and check on discrepancies in annual returns of company filing.

The case has been registered at the Arambagh Police Station in Saddar Karachi under Section 420 and 408 Code of Criminal Procedure.

• As the third wave continues to disrupt economies worldwide, Pakistan’s economy has a lot going on in its favour this time, according to the Dr. Raza Baqir, Governor of the State Bank of Pakistan (SBP) in an online session with Nest I/O.
• Dr. Raza Baqir explained how the country’s demographic profile, growing mobile penetration rate, and positive economic indicators, especially during the COVID-19 pandemic, have contributed to an increase in investments.

• Pakistan's largest shoe exporter, Service Global Footwear Ltd., has planned an initial public offering (IPO) to raise funds from the domestic market to invest in the parent company's tire joint-venture.
• Service Global Footwear plans to use the IPO proceeds to buy about 20% stake in a joint venture set up by Service Industries and China’s Chaoyang Long March Tyre Co.

Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) has said it wants proper implementation on auto sector related SROs 655 and 656.

The Coalition for Tobacco Control (CTC-Pak) Saturday said with its resources and access to policy making forums, tobacco industry is stonewalling all efforts for tobacco control in Pakistan.

President Dr Arif Alvi has directed Pakistan International Airlines (PIA) CEO Air Marshal Arshad Malik to expedite the process of compensation to the families of plane crash victims.

Keeping in view the economic problems of the people, the Punjab government has decided to keep open and continue economy-based business activities in the province to protect people from the economic crunch.

The Sindh Chamber of Agriculture (SCA) president Syed Miran Muhammad Shah, general secretary Zahid Bhurgari, vice president Nabi Bux and others have demanded the Sindh and federal governments to launch a fumigation drive through aircrafts against the locu

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recommended that Pakistan should formulate strategies to decrease dependence on traditional exports like textiles, leather, carpet, sports goods, stainless steel, surgical goods, rice et

"Our peoples have long-time and close cultural and spiritual ties. Today our countries enjoy excellent political re

An innovative pilot project has been launched in Okara under which farmers catch locusts and earn money in return.

The Karachi Port handled 119,476 tonnes of cargo comprising 102,138 tonnes of import cargo and 17,338 tonnes of export cargo including 3,011 loaded and empty containers during the last 24 hours ending at 0700 hours on Friday.

The District Development Committee has approved the implementation of 86 development schemes of roads, local government, WASA, highways and Fesco at a cost of Rs 308 million.

Powerloom Industries, which was main livelihood of Faisalabad, has now been, reached to the edge of disaster due to severest ever liquidity crisis in the history of Pakistan, while a portion of small Power Looms of in size 56 inches had been sold out in K

In a major development for harnessing scarce water resources in Southern Punjab, the Pakistan Water and Power Development Authority (WAPDA) has awarded the consultancy contract worth Rs 156.226 million to a joint venture headed by NESPAK for the feasibili

The federal government has released Rs 583.3 billion (83.21 percent) including Rs 121.24 billion foreign aid (94.5 percent) for various ongoing and new development projects under the Public-Sector Development Programme (PSDP) 2019-2020 against the total b

President Pakistan Businessmen and Intellectuals Forum Mian Zahid Hussain has express concern that coronavirus has pushed unemployment and poverty to new heights making life difficult for millions but the response of developed nations and international in

The business community in Khyber Pakhtunkhwa here on Friday demanded ending of the lockdown and allowing of businesses to remain open 24/7 across the province. The demand was made during a video link meeting held here under the chairmanship of the SCCI pr

ISLAMABAD: The Pakistan Stock Exchange (PSX) Friday turned around and witnessed bullish trend as KSE 100 index closed at

The price of silver witnessed increase of Rs10 per tola and was traded at Rs1040 against its price of Rs1030 on las

KARACHI: The State Bank of Pakistan on Friday injected Rs. 461.95 billion into money market for seven days as reverse re

It is proposed to increase the volume of the federal budget by 10 percent while the budget priorities have been cha

The representatives of the Lahore Restaurants Unity (LRU) and Lahore Super Markets Association (LSMA) on Thursday held a meeting with the Lahore Chamber of Commerce and Industry (LCCI) office-bearers and apprised them of the losses which they occurred on

The Karachi Port handled 48,298 tonnes of cargo comprising 32,938 tonnes of import cargo and 15,360 tonnes of export cargo including 1,970 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday.

Former president of the KCCI and patron of the SITE Association of Industry (SAI) Zubair Motiwala and President SAI Suleman Chawla have demanded of the federal and provincial governments to ease the lockdown, open all industrial and commercial activities

The business activities all over Sindh will continue to operate as usual till May 31 as per directions of the Supreme Court of Pakistan.

FFBL has approved Sarfaraz Ahmed Rehman as Director / Chief Executive Officer (CEO) of the company with effect from

Baqir expressed optimism saying, that Pakistan's economy would be back on track as soon as the pandemic is brought