Govt to establish Customs Authority to curb smuggling

ISLAMABAD: The government has decided to establish a Customs Authority, besides developing a pool to collect data and information regarding smuggling and similar mechanisms, to curb the inflow of non-duty paid items in the country. The decision was taken by Prime Minister Imran Khan while chairing...

Imran launches Rs100bn youth loan project

ISLAMABAD: Prime Minister Imran Khan on Thursday launched the first phase of the "Kamyab Jawan Programme" to provide technical and financial assistance to the...

PM irked as ministries fail to comply with cabinet’s directives

ISLAMABAD: Certain ministries and divisions have been allegedly turning a deaf ear to the important directives of the federal cabinet and in this regard, the...

Kuwait to sign MoU for Pakistani manpower’s import

Kuwait has decided in principle to sign a Memorandum of Understanding (MoU) to import Pakistan's skilled, semi-skilled and unskilled manpower in diverse fields including...

Pakistan to have access to UAE labour market’s database

The United Arab Emirates (UAE) has offered Pakistan to give access to its labour market’s database, which would help boost export of Pakistani workforce...

Is this the end of Abu Dhabi group in Pakistan? And who is to...

If you were to pick an area of Lahore to live in, an area for the elite of the elite – for titans of industry – where would it be? You might think Defence,...

In Careem’s acquisition, will Uber create a monopoly?

In April this year, the ride-hailing firm Uber acquired the rival company Careem for $3.1 billion, with the deal between the two set to be finalised in January. Essentially, for Pakistan, this means one...

Nearly 48% of Pakistan’s electricity came from non-carbon-based sources in August 2019

It appears to be a contradiction, but it is true nonetheless: in August 2019, nearly half of Pakistan’s electricity came from sources that do not produce greenhouse gases, yet the country’s energy mix is...

Pakistan’s banks are better positioned to withstand the recession

It is the worst recession that Pakistan has experienced since the 1971 war, according to some measures, and one would typically expect the banking sector to be badly affected. But while non-performing loans are...

When it comes to inflation, food companies absorb some of the blow

It is a slow time in the packaged food industry as the combined effects of a massive currency devaluation and rising inflation ripple through the economy. Companies in the sector find themselves unable to...

Marketing’s ideological war: The rise and demise of Ufone’s ‘funny’ advert

It isn’t easy being funny. For sure, the joke you told yesterday during dinner might have killed, but with enough context and concentration of crowds, anyone can do it. What we are talking about...

ETDB: Where Pakistan sends a bureaucrat to do a banker’s job

Somewhere in Istanbul, Javed Aslam must be reflecting on his four-year stint as President of the ECO Trade and Development Bank (ETDB). Not only has he been at the helm of a bank created...

The future of domestic help is a click away, and there are already two...

Disaster has struck. Your boss is coming over, or maybe it is your in-laws, or even people from school you have not seen in years. You have been planning this for a while, even...

Reform! What, why and for who?

Pakistan was made with a commitment to democracy and development but soon after the founding generation succumbed to greed and politically expediency to accommodate...

How not to hold businesses accountable

Business publications have a natural bias: we tend to be pro-capitalism, pro-free markets, and pro-entrepreneurship. What we at Profit try to do is not...

Time to deregulate oil prices

If there is one habit we wish the government of Pakistan would try to kick, it is the insane attempts to assert political control...

“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 75

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Lahore-based amusement company invests over Rs1bn in Rawalpindi

ISLAMABAD: At a time when the country is in desperate need of local and foreign investments, a Lahore-based amusement company, Joyland, under its expansion plan,...

Large retailers asked to link invoicing systems with FBR by Dec 1

KARACHI: The Federal Board of Revenue (FBR) on Thursday asked the big retailers to ensure installation of its point-of-sale invoicing app into their systems...

FATF ‘satisfied’ with Pakistan over action plan compliance

The Financial Action Task Force (FATF) on Monday expressed satisfaction over steps taken by Pakistan in line with its action plan to control terror...

MCB Bank Limited to sell off its financial services arm

KARACHI: MCB Bank Limited has decided to ‘dispose’ off its wholly owned subsidiary MCB Financial Services Limited (MCBFSL) to ISE Towers REIT Management Company...

Is this the end of Abu Dhabi group in Pakistan? And who is to...

If you were to pick an area of Lahore to live in, an area for the elite of the elite – for titans of...

Pakistan LNG cancels huge 10-year LNG tender

SINGAPORE: State-owned Pakistan LNG Limited has cancelled a tender to buy liquefied natural gas over a 10-year period and may turn to the spot...

PIA to expand fleet with five new aircraft

Pakistan International Airlines (PIA) has decided to acquire five new aircraft in a bid to expand its fleet, a private media outlet reported on...

$14.5 billion worth Saudi projects underway in Pakistan

ISLAMABAD: Work has started on $14.5 billion worth of Saudi energy and petroleum projects in Pakistan, Omar Ayub Khan, federal minister for power and...
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