Soneri Bank Ltd is going to exercise the call option with respect to a Rs3 billion bond it issued in July 2015. The commercial lender told bondholders on Wednesday it’s going to use its right as a debt issuer to “call” or buy back its listed bond — called a term finance certificate (TFC) in local parlance — of Rs3bn prior to maturity. The bond was issued as an instrument of redeemable capit
The central banks of Pakistan and China signed a memorandum of cooperation on yuan clearing in Pakistan, the Chinese central bank said in a statement on Wednesday, without giving more details. The arrangement could pave the way for an alternative payment option for Pakistan, boosting yuan usage for cross-border transactions among Chinese and Pakistani enterprises and financial institutions.
The government has barred autonomous, semi-autonomous and other public sector corporations and statutory entities from issuing any order relating to the terms and conditions of service of their staff that could have financial implications. In an order, the finance ministry asked the ministries and divisions to ensure that their attached and subordinate organisations don’t issue any such orders
Construction slowdown on account of political uncertainty, floods and costly building materials caused a 15.5 per cent and 21pc drop in cement sales during October and 4MFY23, respectively. Export shipments also remained affected due to the economic slowdown in world markets. Hassan Bakshi, former chairman Association of Builders and Developers (ABAD), said lingering political and economic u
The National Electric Power Regulatory Authority (Nepra) on Thursday issued new rules allowing new market players to have non-discriminatory access to existing transmission and distribution networks currently maintained mostly by the public sector entities and K-Electric and provide electricity to bulk consumers. The Open Access (Interconnection and Wheeling of Electric Power Regulations, 2022