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
Within months after an over 25 per cent increase, the Oil Marketing Companies (OMCs) have formally demanded 100pc increase in their profit margins on the sale of petroleum products to “ensure the survival” of the industry. “OMC’s margin for high-speed diesel (HSD) and petrol should be set at Rs12 per litre”, to maintain the feasibility and ensure the survival of OMCs, wrote the Oil Companies Ad
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
The Oil and Gas Regulatory Authority (Ogra) on Tuesday increased the price of indigenous liquefied petroleum gas (LPG) by about Rs5 per kg, pushing up the cost of 11.8-kg domestic cylinder by almost Rs58 for this month. In a notification, Ogra set the price of LPG at Rs233.89 per kg for May against Rs228.8 per kg in April, up by Rs4.89 per kg. As such, the 11.8kg domestic cylinder was set at Rs
Prime Minister Shehbaz Sharif on Tuesday ordered tough action against smugglers of wheat, sugar, urea and other commodities which have caused massive increase in prices of these and other commodities in the country. Presiding over a meeting to review measures to curb smuggling, the prime minister expressed satisfaction over “the bumper crop of wheat this year which has broken the 10-year record