Author: PakPositive Staff
Transworld dominates as Pakistan’s fastest internet provider in Q4, 2023, leading in median download speeds at 22.08 Mbps and demonstrating an impressive 46% consistency on the Speed Test Global Index, reinforcing its commitment to reliable, high-speed internet services. The company maintains a competitive edge with a low latency of 16 ms, further solidifying its position in the industry.
The Ministry of Finance plans to auction Rs. 100 billion sovereign Sukuk at the Pakistan Stock Exchange on January 23, 2023, with offerings spanning 1, 3, and 5 years. This move aligns with the government’s commitment to Shariah-compliant financing, as demonstrated by the successful oversubscription of a Rs. 30 billion Sukuk in December 2023.
National Foods Limited expands its international footprint by establishing a new subsidiary, National Foods (FZE), in Sharjah, U.A.E., through its wholly-owned subsidiary National Foods DMCC in Dubai. The move aligns with the company’s global business strategy, focusing on the manufacture and sale of convenience-based food products under the parent entity, ATC Holdings (Private) Limited.
Pakistan’s listed fertilizer companies are poised for a robust Q4 2023, with a projected 104% YoY profit surge to Rs. 25 billion, driven by increased retention prices. Fauji Fertilizer Company and Engro Fertilizers are expected to declare dividends, showcasing sector resilience amid shifting dynamics.
In a stride toward a cashless economy, the Federal Government of Pakistan is set to unveil the National Digital Wallet, an advanced digital rewards platform envisioned by the National Database and Registration Authority (NADRA). This initiative, aligned with the Ministry of IT and Telecom’s strategy, aims to boost digital transactions and diminish reliance on conventional cash payments. The National Digital Wallet promises to redefine financial interactions for Pakistanis, providing a seamless and rewarding experience. A noteworthy aspect of this initiative involves the potential linkage of a 1% reward to digitally conducted payments for electricity, gas, and fuel bills. This incentive…
Pakistan Air Force strengthens its defense with hypersonic missiles, part of a transformative modernization initiative to counter evolving threats and become a next-gen force in Aviation, Space, Cyber, and AI. The move underscores Pakistan’s commitment to bolster war capabilities through strategic acquisitions and indigenization.
Shoaib Malik, a stalwart in Pakistani cricket, recently became the second player to reach 13,000 runs in T20 cricket, following closely behind Chris Gayle. Currently playing for Fortune Barisal in the Bangladesh Premier League, Malik surprised fans by announcing his third marriage to actress Sana Javed on social media.
Pakistan’s economic landscape witnessed a downturn in the textile sector, declining by 5%, but the rice export sector thrived, surging by 76.5% to $1.638 billion, driven by India’s export ban. This success in exports, however, was accompanied by domestic challenges as staple prices soared over 100%, impacting millions of Pakistanis and highlighting the nuanced nature of the country’s economic dynamics.
In response to economic challenges, Pakistan Suzuki Motor Company introduces enticing incentives, such as a Rs. 100,000 ‘Purchase Bonus’ for Wagon R, to stimulate sales, resulting in a recent 7% monthly increase despite a significant 55% year-on-year decline.
Mari Petroleum Company Limited achieved successful testing of the second appraisal well in Mari Ghazij formation, reaching a depth of 1,014 meters with a post-acid gas flow rate of 6.57 MMSCFD. The well is poised for test production pending regulatory approvals.