Meezan Bank Ltd posted its highest-ever quarterly profit in April-June as its consolidated earnings amounted to Rs17.3 billion, up 120 per cent from a year ago. Its net profit rose 12pc from the preceding quarter mainly on the back of higher income and lower provisioning, said Arif Habib Ltd. The bank also announced a dividend of Rs4 per share. Separately, Bank Alfalah Ltd declared on Thursd
The National Electric Power Regulatory Authority (Nepra) notified an additional fuel cost adjustment (FCA) of Rs1.81 per unit for power distribution companies (Discos) and Rs2.31 for the Karachi-based utility K-Electric on Wednesday, with a net financial impact of Rs29 billion. Consumers will see the surcharge separately in their August bills and it will be based on their power consumption in J
Pakistan International Airlines (PIA) has appointed former Air Vice Marshal Muhammad Amir Hayat as CEO for one year, a spokesperson of the national carrier told Reuters. This week, the outgoing government said it planned to privatise loss-making PIA, which has accumulated hundreds of billions of rupees in losses and arrears. The move would be in line with an International Monetary Fund (IMF) de
Pakistan and Iraq have signed a convention to eliminate double taxation on income, capital and prevent tax evasion to promote economic cooperation. The convention was signed against the backdrop of recent efforts to boost trade, investment, and tourism between the two countries. Several business meetings, including a single-country exhibition, have been held in Iraq since last year to promote
Pakistan’s exports to nine regional countries dipped 21.1 per cent in FY23 mainly driven by a drop in shipments to China, data compiled by the State Bank of Pakistan showed. The decline is not confined to exports but imports, especially from China, also saw a steep decline during FY23. As part of government policy to curtail the trade deficit amid fast dwindling foreign exchange reserves, the