Indus Motor Company (IMC), the assembler of Toyota vehicles, posted a 61 per cent increase in its profit-after-tax (PAT) to Rs9.41 billion during 9MFY24 despite the challenging economic conditions.This is a significant jump from Rs5.48bn in the same period last fiscal year. Net sales turnover fell to Rs98.23bn from Rs135.03bn in the same period last year. IMC chief executive Ali Asghar Jamali s
Riyadh told Islamabad on Monday that Saudi agriculture companies were looking at Pakistan with great interest and expressed the hope that both countries would benefit from joint ventures for improving the value chain of agriculture economy. This transpired at Prime Minister Shehbaz Sharif’s meeting with Faisal Al-Ibrahim, Minister of Economy and Planning, and Eng Abdulrahman Abdulmohsen Al-Fad
The Competition Commission of Pakistan (CCP) approved Aramco’s 40 per cent equity stake acquisition in Gas & Oil Pakistan Ltd (GO), the Saudi oil giant’s first entry into Pakistan’s fuels retail market. Aramco Asia Singapore Pte Ltd, is a Singaporean company wholly owned by Saudi Aramco, filed the pre-merger application with the CCP. The company specialises in sales, marketing, procurement,
A new committee formed by the prime minister to identify flaws and failures of the Track and Trace System (TTS) is likely to submit its report today (Tuesday). The committee, headed by Finance Secretary Imdadullah Bosal, will likely hold the TTS project directors responsible. The TTS is a software-based solution for tracking vehicles, loading units, shipments, and products throughout the entire
The federal government has announced stringent financial rules for all government entities, including ministries, divisions, departments, and agencies, to tighten control over cash through “sweeping arrangements” allowing the finance ministry to take over idle public funds in bank accounts. The major change introduced through the “Cash Management and Treasury Single Account Rules 2024” came wit