The government raised Rs705 billion through an auction of market treasury bills despite Rs1.195 trillion bids offered mostly by banks on Wednesday. The bidding trend showed that banks were saturated with liquidity and willing to park maximum in the government papers. The government remained around its target of Rs750bn but the accepted amount was much higher than the maturing amount of Rs630bn.
Jazz, Pakistan’s largest mobile network operator, invested Rs3.7 billion in the first quarter of 2023 and added more than 1,000 new 4G sites, bringing its overall investment in Pakistan to $10.4bn. Despite a 16 per cent growth in overall revenues in local currency, Jazz’s revenue decreased 20.4pc in dollar terms during January-March, mainly due to a massive depreciation in the rupee. The company h
In a rare move, the Sui Southern Gas Company Ltd (SSGCL) has alleged that Pakistan Steel Mills’ audited accounts for 2021-22 had violated the current scheme for revival of the PSM approved by its board and the federal government. In a statement, the Karachi-based gas utility raised questions over the auditor’s report on PSM’s financial statement for 2021-22 but precisely confirmed the auditor’s
Trade unionists, beware! A new kind of collective bargaining agent (CBA) is in town to replace you. As implausible as it may sound, it’s the CEO you’ve been haggling with for decades. The minimum wage is a thing of the past, says the new CBA. A full-time job is supposed to lift one out of poverty, not keep them there indefinitely. The latest catchword in the corporate world is fair living wage
Almost after seven years, Pakistan and Turkiye have implemented a preferential trade agreement to boost bilateral trade volume across various sectors. Both sides notified duty reductions on mutually agreed tariff lines with effect from May 1, an official announcement of the commerce ministry said on Thursday. Islamabad and Istanbul signed the “Trade in Goods Agreement” in August 2016. Under