The Bank of Punjab (BoP) on Tuesday announced a profit-after-tax (PAT) of Rs11.3bn with earnings per share (EPS) at Rs3.47 in 2023, up from Rs10.8bn and EPS Rs3.31 in 2022. The board of directors reviewed and approved the bank’s annual audited financial statements for the year ended Dec 31, 2023. The board announced a cash dividend of Re1 per share. Interloop profit doubles Interloop Ltd
A UK-funded road show managed to connect eight climate projects with potential investors after a two-day event, which ended on Sunday. The show, under the auspices of Climate Finance Accelerator (CFA), an NGO, aimed at supporting bankable projects by serving as a bridge between solutions and potential investors. The CFA, however, does not invest directly in projects nor does it guarantee an
Contrary to strong criticism by the industrial sector on the massive gas tariff hike, Engro Fertilisers Ltd has appreciated the government for removing the subsidy for manufacturers who get gas from the Sui Northern Gas Pipeline Ltd (SNGPL) network, which represents 60pc of all fertiliser manufacturing capacity. Feedstock prices have been increased to Rs1,597 per mmBtu from Rs580 which is almos
The US dollar appreciated by 21 paise to Rs279.57 against the rupee in the interbank market on Tuesday. The exchange rate has been stable for over two months with support from the State Bank of Pakistan which restricted imports. The market perception of the exchange rate is not as positive as it looks. Currency experts believe that the stable exchange rate is an outcome of a SBP’s strategy w
The Federal Board of Revenue (FBR) recorded a 30 per cent increase in tax collection during the first seven and half months of 2023-24 owing primarily to the country’s historical inflation rate. In absolute terms, the FBR collected Rs5.150 trillion from July 1, 2023 to mid-February compared to Rs3.973tr in the corresponding period of FY23. During this time, tax refunds increased by more than 28