Net income of United Bank Ltd for April-June amounted to Rs12.7 billion, up 379 per cent from a year ago, the commercial lender told investors on Wednesday. However, earnings on a consolidated basis went down 11pc from the preceding three-month period. Arif Habib Ltd attributed the annual rise in earnings to a jump in the bank’s total income and reversals in provisioning. The bank also annou
Pakistan exported a significant quantity of 215,752 tonnes of sugar during the February-June period of the outgoing FY23 against zero foreign sales in the comparable period the preceding year, causing a surge in domestic retail prices of the sweetener, showed data compiled by the Pakistan Bureau of Statistics (PBS). The sugar industry had been demanding permission for the export of surplus volu
The Pakistan Mercantile Exchange (PMEX) will roll out “within a month” the beta version of an e-commerce platform that’ll help commodity producers sell their merchandise directly to global buyers. A wholly owned subsidiary of the country’s only futures exchange, the Global Commodity Trading Platform (GCTP) will operate “just like Amazon”, said PMEX Managing Director Ejaz Ali Shah while speaking
Ahead of the completion of the constitutional term of the government, the Executive Committee of the Economic Council (Ecnec) on Wednesday continued approving seven more projects worth Rs446 billion and revised another Rs377bn worth of solarisation project for countrywide tube wells. Last week too, Ecnec approved six projects with an estimated cost of Rs1.077 trillion. Finance Minister Ishaq D
After the transfer of container terminal, the government has decided in principle to hand over the bulk and general cargo terminal at Karachi Port’s East Wharf to Abu Dhabi Ports through a government-to-government deal under the Inter-Governmental Commercial Transaction Act, 2022. To implement the decision, the cabinet committee on inter-governmental commercial transactions (CCoIGCT), led by Fi