Though closed since June 2015, Pakistan Steel Mills (PSM) is reported to have earned after-tax-profit of about Rs7.45 billion in 2021-22 even though its accumulated losses of Rs206bn went beyond its current assets worth Rs195.5bn. In the qualified opinion of on financial statements, the independent auditors — Crowe Hussain Chaudhry & Co — said the PSM fully disclosed its dispute with Sui Southe
Pakistan’s exports to nine regional countries dipped 28.28 per cent in the first nine months of FY23 mainly driven by a drop in shipments to China, data compiled by the State Bank of Pakistan showed. The decline is not confined to exports but imports especially from China also saw a deep decline during the current fiscal year. As part of government austerity measures, import containers are awai
Bankers and currency dealers have anticipated over $2.5 billion in remittances in April like the preceding month which helped the country to record a current account (C/A) surplus. At the same time, they believe the country could post a C/A surplus for the second month in a row which would reduce pressure on the dwindling foreign exchange reserves held by the State Bank of Pakistan (SBP). “D
Notwithstanding the nearly flat economic growth expected for 2022-23 amid record-high inflation, after-tax income reported by the representative firms of the country’s corporate sector remained at Rs877.6 billion in the first nine months of the current fiscal year, up 8.8 per cent from a year ago. According to data compiled by Arif Habib Ltd, combined earnings rose 12.7pc year-on-year in the la
Bulls maintained a strong grip on the Pakistan Stock Exchange on Thursday, with the benchmark of the representative companies hovering in the green zone throughout the trading session. Topline Securities said the buying momentum could be attributed to the lowering of the political temperature. The remarks by the chief justice about the initiation of a grand dialogue among political parties with