IMF mission concludes visit; notes progress in key areas

Fund projects Pakistan's growth at 2.4pc for FY20; inflation to decline in the coming months Pakistan warned of domestic and int’l risks in case structural reforms and other required steps are not taken ISLAMABAD: The five-day visit of an International Monitory Fund (IMF) mission...

Pakistan gives green light to five LNG terminal plans

ISLAMABAD: Pakistan has given the go-ahead to five consortiums, including Exxon Mobil, Royal Dutch Shell and Mitsubishi, to progress with their liquefied natural gas (LNG)...

Current account deficit contracts 55pc in two months

The current account deficit (CAD) has contracted by a massive 55 per cent in the first two months of the current fiscal year as...

China needs to change way it finances economy, think tank says

HANGZHOU: China needs to develop a better system for financing small businesses that drive innovation in the economy but currently struggle to access the...

Big companies commit to slash emissions ahead of UN climate summit

NEW YORK: According to a report by Matthew Green almost 90 big companies in sectors from food to cement to telecommunications are pledging to...

Profit Explains: The GIDC saga

The Pakistan Tehreek-e-Insaf government has recently waived off approximately 208 billion rupees in Gas Infrastructure Development Cess, more famously known as GIDC, to ‘influential’ industrialists through a presidential ordinance. Account for the accumulated interest,...

In a country awash in weapons, running a legal gun shop is a tough...

A report published by Small Arms Survey, a research project at the Geneva-based Graduate Institute of International and Development Studies, in June 2018 estimated that civilians in 230 countries till year end 2017 owned...

Waging war against the gawala

It all started with a visit, as all good bureaucratic wormholes do. On the outskirts of Faisalabad, within what is part of the Faisalabad Municipal Corporation (FMC), but doesn’t quite feel like it, a...

Highest price, dominant market share: the curious case of Atlas Honda

The company has mostly lower-middle and working class customers. It has the most expensive product on the market, and one that is generally worth at least two months’ income for most people who buy...

Why Sheikh Imranul Haque’s imprisonment should terrify Corporate Pakistan

Sheikh Imranul Haque has been in jail for approximately one month and nobody in the government – not even the serious looking men charged with prosecuting him, nor the slightly more ridiculous men charged...

What does Babar Ali want to do with IGI Holdings?

It is practically an axiom in the world of corporate strategy: if you consolidate several separate businesses under a single holding company, you are in the market to buy something, usually something big. In Pakistan,...

Beleaguered or privileged: The curious case of Pakistan’s Pharma Industry

The tale is an old one. Medicine is one of those things that all humans need, and that need is what has allowed it to turn into one of the largest, most lucrative, and...

Inside the murky world of college counseling

Let’s think of two scenarios. In the first one, you’re rich. Scratch that, you’re filthy rich. Your kid is a middling student at Aitchison, or LGS, or American Lyceum or Lycetuff or something -...

Our manufacturing opportunity

For the last 5 months, I have undertaken the arduous task of renovating my home. Much to the discomfort of family members, I have...

Dear CEOs, please stop whining

One of the professional hazards of being a financial journalist in Pakistan is that when you get to meet and talk to CEOs, you...

Can PTCL’s new CEO turn back the clock?

The market just isn’t big enough for these many players. This is a statement that is thrown around a lot these days, whenever the...

“Boycotting imported products will elevate rupee and make Pakistan better off,” BS or not?

In response to the relentless hike in US dollar against Pakistani rupee, various campaigns online have urged Pakistani consumers to cut-off their purchase of...

Smuggled phones can be unblocked in the black market for Rs 2,000’: BS or Not?

Senator Mian Mohammad Ateeq Sheikh raised concerns in a Senate standing committee a few days ago over Pakistan Telecommunication Authority (PTA) blocked phones being...

‘Huawei phones have stopped working after Google pulls its Android license,’ BS or not?

 An increasing number of American and Chinese companies are feeling the damaging effects of the US trade war with China as it escalates. The...

Profit E-Magazine Issue 73

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Pakistan to export cigarettes worth $50m for the first time

ISLAMABAD: Although Pakistan has been exporting tobacco and tobacco products to various countries, now for the first time, the country is going to export...

Metro Bus fare policy results in drastic decrease in commuters

ISLAMABAD: The government’s Metro Bus fare policy in Lahore and Rawalpindi/ Islamabad has backfired as there has been a drastic decrease in number of...

Mobile phone import bill jumps 98 percent

LAHORE: Mobile phone import bill, on a month-on-month basis, in July doubled in terms of value from $37.3 million to $73.8m (97.85 per cent),...

Pakistan to launch 13 mega projects with China in agri sector

ISLAMABAD: Government is considering 13 mega projects in agriculture sector across the country in collaboration with China, food minister said on Monday. In a report...

FBR stops short of providing sales tax relief to car assemblers

ISLAMABAD: The Federal Board of Revenue (FBR) has withdrawn at the eleventh hour a summary that it earlier moved to seek the federal cabinet’s...

Auditor General finds Rs201 billion discrepancy in FBR tax receipts

ISLAMABAD: The Auditor General of Pakistan (AGP) has discovered variations of Rs201.39 billion in the figures of tax receipts, and referred to these as...

SBP to announce new monetary policy today

The State Bank of Pakistan (SBP) is scheduled to announce the Monetary Policy Rate for the next two months, on September 16, 2019. Most...

ExxonMobil, Pakistan’s UGDC ink LNG import deal

ISLAMABAD: ExxonMobil, the world's largest oil and gas company, has inked a deal with Universal Gas Distribution Company Pvt Ltd (UGDC) wherein the company...
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