Pakistan’s central bank has left its key policy rate unchanged at a record high of 22% for the seventh consecutive time, meeting market expectations. This decision comes ahead of the International Monetary Fund (IMF) executive board’s final approval for the release of the last tranche of $1.1 billion on Monday. While the IMF has consistently advised the central bank to maintain a tight monetary
Cement manufacturers have welcomed a recent statement of Prime Minister Shehbaz Sharif on the implementation of track and trace system by the Federal Board of Revenue (FBR) and the initiation of an investigation into its mismanagement. “APCMA in various meetings and correspondences with the FBR has maintained from day one that the track and trace system cannot function within the cement industr
Oil and Gas Development Company Limited (OGDCL) has announced that it earned an after-tax profit of Rs171.10 billion with earnings per share of Rs39.78 in the first nine months of the current financial year. The board of directors of the company, in its meeting held on April 29, 2024, unveiled the financial results for the nine-month period ended March 31, 2024. Net sales of the oil and gas
The Indus Motor Company (IMC) reported a profit of Rs4.45 billion for the third quarter ended March 31, 2024, marking a significant increase of 38% compared to the earnings of Rs3.22 billion recorded during the same period in the previous year. According to the company’s financial statement, the board of directors declared an interim cash dividend of Rs34 per share, supplementing the interim cash
Prime Minister Shehbaz Sharif has deferred a decision on allowing the export of sugar due to contradictory claims of surplus stocks, which according to the government reported only 114,000 metric tonnes compared to the sugar industry’s estimates of 1.5 million tonnes. The Pakistan Sugar Mills Association (PSMA)’s claim about surplus sugar stocks was over 1200% higher than the estimates of the M