The Aga Khan Fund for Economic Development (AKFED), which is the overseas sponsor of Habib Bank Ltd, is going to use its accumulated dividends worth Rs3.5 billion to buy additional shares of the country’s largest lender from the stock market, a regulatory filing said on Tuesday. The announcement is first of its kind by any corporate entity with overseas sponsors given that the laws governing th
Bringing together some 250 professionals, the conference ‘New Age Innovations: Celebrating those who dare to be different’ organised by New World Concepts here on Wednesday focused on topics such as utilisation of cutting-edge technologies and implementing new business models while also providing insights into the latest trends and developments in the world of business innovation. Senior profes
Cement makers continued to struggle with declining construction activities as their domestic sales in April and 10MFY23 plunged by 25.13 per cent and 16.23pc, respectively. As per data released by the All Pakistan Cement Manufacturers Association (APCMA), local sales in April stood at 2.531 million tonnes as against 3.380m tonnes in April 2022. The 10MFY23 domestic despatches shrank to 33.09
The Federal Board of Revenue (FBR) has entered into data sharing agreements with provincial revenue authorities to enhance efficiency and transparency in the sales tax collection system of the country. The agreement in Karachi was signed by Member (R&S) Board of Revenue Ahmed Ali Shah on behalf of the Sindh government, and that in Quetta by Senior Member Board of Revenue Roshan Ali Shaikh on be
Pakistan’s overall oil sales plunged 47 per cent year-over-year to 1.171 million tonnes in April, while the total sales shrank by 24pc to 13.970m tonnes in the July-April period of FY23. However, oil sales rose 6pc month-on-month in April. Furnace oil (FO) consumption in April 2023 was 72,000 tonnes compared to 461,000 tonnes in April 2022, while sales fell 16pc on MoM. The July-April FY23 FO s