December 2024

Software Boom or Bust: Why Pakistan Needs Factories First?

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Pakistan’s software exports are booming, with ambitious targets of $25 billion by 2029. But can software alone uplift a nation of over 240 million? This video explores the role industrialization plays in sustainable economic development, drawing lessons from countries like Germany, Japan, Bangladesh, and Indonesia. Discover why robust manufacturing, better governance, and infrastructure are essential […]

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President promulgates Income Tax (Amendment) Ordinance, revising tax structure for banks

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President Asif Ali Zardari on Monday night promulgated the Income Tax (Amendment) Ordinance, 2024, introducing significant changes to the taxation structure of banks by amending the First and Seventh Schedules of the Income Tax Ordinance, 2001. Under the ordinance, a tax rate of 44% has been set for banking companies for the tax year 2025.

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K-Electric seeks Rs4.98/unit relief for November fuel charge adjustment

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K-Electric has submitted a provisional monthly fuel charge adjustment (FCA) request for November 2024, proposing a relief of Rs4.98 per kilowatt-hour (kWh) for its customers. The National Electric Power Regulatory Authority (NEPRA) has scheduled a public hearing on January 15, 2025, to evaluate K-Electric’s proposal.  Following the hearing, NEPRA will determine the final FCA amount

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President orders banks to compensate fraud victims with Rs24.136 million

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President Asif Ali Zardari has directed six banks to compensate 31 victims of bank fraud with financial relief totaling Rs24.136 million, following decisions by the Banking Mohtasib. The president upheld the Banking Mohtasib’s rulings in favor of the affected customers, delivering justice after the banks challenged these decisions through separate representations.  The victims had initially

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Fauji Fertilizer Bin Qasim delisted from PSX following merger with FFC

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The Pakistan Stock Exchange (PSX) has announced the delisting of Fauji Fertilizer Bin Qasim Limited (FFBL) following its merger and amalgamation with Fauji Fertilizer Company Limited (FFC). According to a notice issued by the PSX, the delisting will take effect from Tuesday, December 31, 2024. The decision comes after the fulfillment of all necessary requirements

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Pakistan-Duth egg firm plans IPO to raise Rs1.2bn amid stock market surge

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Pakistan-Duth egg firm, Barkat Frisian Agro Ltd, is set to launch an initial public offering (IPO) next month to raise up to Rs1.2 billion ($4.3 million), Bloomberg reported.  The company, a joint venture between the Pakistan-based Buksh Group and the Netherlands-based Frisian Egg Group, plans to use the proceeds to establish a new production plant

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