Browsing: Business

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.

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.

FFC’s ‘Management Trainees Program’ in Pakistan invites young talent in engineering and chemistry for top-notch training and career opportunities. With a focus on fostering talent, FFC offers a dynamic environment, international exposure, and a commitment to professional growth.

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.

Chery is introducing new car models in Pakistan, featuring the electric Omoda E5 with a 430 km range and the versatile Jaecoo J7 SUV. With a commitment to innovation, Chery aims to elevate the automotive experience in the evolving Pakistani market.

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.

Pakistan’s Real Effective Exchange Rate (REER) in December 2023 edged up to 98.9, signaling favorable returns for exports and an undervalued currency, as per the State Bank of Pakistan. The REER value below 100 implies sustained trade competitiveness.

SIWA INDUSTRIES partners with AIMA to bring Chinese electric bikes to Pakistan, expanding the market’s offerings. AIMA’s flagship store launch follows a growing trend of Chinese electric bike brands entering the country, with Yadea having recently introduced its T5 model.

Despite challenges, Islamabad International Airport marked a milestone in 2023 with its highest-ever passenger influx of 6 million, showcasing operational excellence. As the government plans a 15-year outsourcing initiative, critical services remain under its control, ensuring a strategic balance in aviation management.