The Board of Directors of Javedan Corporation Limited (JCL) announced the financial results for FY23 last week, as per a press release. The company reported a profit of Rs8bn, representing the company’s highest-ever profit. A final cash dividend of Rs6 per share, equivalent to 60pc of the face value, was approved. This amounted to a payout of Rs2.3bn. JCL is the owner company of Naya Nazimab
The PKR continued to improve against the US dollar in the interbank market on Tuesday, extending its gains for the 19th consecutive session that followed a crackdown on the informal currency market that began early last month. According to the Forex Association of Pakistan, the rupee gained Rs1.04 against the US dollar, reaching Rs285.72 by close, up 0.36pc from yesterday’s close of Rs286.76.
Projecting a persisting mix of sluggish growth rate and high inflationary trends with significant downside risks, the World Bank on Tuesday advocated Pakistan for a sharp fiscal adjustment of about 4pc of GDP and decisive implementation of broad-based reforms committed to the International Monetary Fund (IMF) to get out of the fiscal and macroeconomic quagmire. “Predicated on the robust impleme
Construction activities appeared to have revived in the first quarter of FY24 following a 17.7 per cent jump in domestic cement sales to 10.122 million tonnes from 8.602m tonnes in the same period last fiscal year. Exports during 3MFY24 posted a whooping growth of 72pc to 1.751m tonnes from 1.019n tonnes due to rupee devaluation during July-Aug 2023. As a result, total cement despatches (loc
The operating frameworks of the International Monetary Fund (IMF) and the World Bank Group (WBG) are ill-suited to respond to the climate crisis as their successive interventions have locked in fossil fuels, caused large-scale hydro impacts and led the country to tap into local coal reserves. According to a report released in a webinar on Tuesday by the Alternative Law Collective, Alliance for