Pakistan Stock Exchange (PSX) Managing Director Farrukh H. Khan said on Wednesday at least three initial public offerings (IPOs) are expected to take place soon as an increasing number of companies realise that raising funds through the shares market is more efficient than relying on high-cost bank borrowing. Speaking to journalists on the sidelines of a gong ceremony to mark the IPO of technol
The Competition Commission of Pakistan (CCP) has granted approval to two mergers in home healthcare services and non-life insurance sectors after the successful completion of phase-1 competition assessment of the entities. The CCP approved the merger application filed by Shifa International Hospitals Ltd to acquire SIHT Private Ltd from Shifa Foundation. It was found that there was no overla
The auto assemblers on Wednesday again shocked buyers of bikes, rickshaws, cars and commercial vehicles with immediate price hikes in the range of Rs10,000 to Rs350,000. Lucky Motor Corporation Ltd (LMCL) jacked up the prices of various models by up to Rs350,000 citing no reason. The new rate of Picanto Automatic, Stonic EX plus, Sportage AWD and Sportage Black (Limited Edition) is Rs3.950 m
Pakistan’s top tax machinery has set new ambitious targets for the current fiscal year to expand the taxpayer base and get more retailers integrated into the Point-of-Sale (POS) system of the Federal Board of Revenue (FBR). In FY23, the FBR claimed that 182,000 new taxpayers had joined the tax system. In a briefing to the Caretaker Prime Minister Anwaarul Haq Kakar on Wednesday, the FBR hel
In an apparent move to manage high expectations, the caretaker government on Wednesday said the economy continues to face both domestic and external challenges and “massive” petroleum price hikes twice in August and heavy electricity price shocks would keep inflationary pressures at elevated levels in coming months. “The two massive fuel price hikes witnessed in August and upward adjustment in