Bank Alfalah Ltd said on Thursday it’s going to buy up to 200 million of its own shares at the price prevailing on the stock exchange. The targeted shares constitute about 11.25 per cent of the total shareholding and 32.15pc of the free-float. The purpose of the buyback is the cancellation of shares, which will lead to an increase in the earnings per share. The purchase period will last from
The government is expected to launch 5G technology in July next year, which was earlier announced to be done by December. IT and Telecommunications Minister Syed Amin ul Haq while announcing the new date vowed that the initiative would help further boost the IT industry and its export at an exponential rate. Addressing a ceremony at the UBIT Career Fest 2022, organised by the Department of Comp
Foreign exchange reserves of the State Bank of Pakistan (SBP) decreased $956 million to $7.95 billion due to external debt servicing during the week ending on Nov 4, a central bank statement said on Thursday. Major external debt repayments executed during the week include the repayment of the government’s commercial loans. Refinancing of these loans is in process, which will improve foreign exc
The World Bank and the Federal Board of Revenue (FBR ) on Thursday reviewed the implementation status of various measures agreed upon for broadening the tax base and taxpayers’ facilitation under the Pakistan Raises Revenue Programme (PRRP) soft loan of $400 million. The PRRP was initiated in 2019 and aimed at “contributing to a sustainable increase in domestic revenue by broadening the tax bas
Finance Minister Ishaq Dar is in Abu Dhabi to seek financial support, including through selling minority shares of state-owned companies listed on the stock market at negotiated prices. On the first day of his visit, Mr Dar met with the top management of multibillion-dollar public sector entities — like Abu Dhabi’s state holding company ADQ, the International Holding Company (IHC) and Etisalat