The fast moving consumer goods (FMCG) companies in Pakistan have stated that smuggled or illegally imported products from Iran were posing significant threat to their profits and sales. They highlighted that such goods cost half as much as locally available ones and their availability was increasing on the back of climbing inflation reading. To highlight the issue, the Pakistan Dairy Associa
The government has approved a tax incentive package for the active pharmaceutical ingredient (API) industry to give a boost to its growth and ensure it is on a par with the industries in India, China and Bangladesh. Earlier, the Prime Minister’s Office told the ministries and divisions concerned that PM Imran Khan desired to increase self-reliance in the API industry through concrete steps and
In a time of increasing inflation and devaluation of the Pakistani rupee, the government is looking for more taxes but it seems like there is no solution, instead of going after tax evaders, the government is penalising the existing tax payers. How valid is this claim? The urban real estate valuation in major cities in Pakistan has expanded fundamentally during recent years which ought to be in
Meezan Bank Limited (MBL) posted a consolidated after-tax profit of Rs28.5 billion for the year 2021, an increase of 26 per cent compared to earnings of Rs22.67bn a year ago. MBL’s total income rose to Rs85bn from Rs76bn. The earnings per share stood at Rs 17.43 per share as against Rs13.62. Kohinoor Energy Sales of Kohinoor Energy Limited during July-December 2021 rose to Rs5.4bn from Rs
MCB Bank Ltd (MCB) on Monday announced that it is in the process of carrying out due diligence for a potential transaction to purchase 55 per cent shares in Telenor Microfinance Bank Ltd, the bank informed the stock exchange. “The State Bank of Pakistan (SBP) has granted in principle conditional approval to MCB Bank to conduct due diligence for a potential transaction for the purchase of 55pc s