PIA on SECP’s radar over ‘market manipulation’

ISLAMABAD: Taking serious notice of a recent statement issued by the Pakistan International Airlines Corporation chief executive officer (CEO), the Securities and Exchange Policy Board has directed the Securities and Exchange Commission of Pakistan (SECP) to examine the CEO's remarks on PIA's profitability, which, according...

CCoP approves sale of SME Bank, PIA properties

ISLAMABAD: The Cabinet Committee on Privatisation (CCoP) on Friday approved the sale of SME Bank as well as the properties of different state institutions,...

Govt on course for timely completion of industrial zones, NA told

ISLAMABAD: Parliamentary Secretary for Textile Aliya Hamza Malik told the National Assembly on Thursday that the government has expedited its work on industrial zones in...

Boeing says timing of 737 MAX return in hands of regulators

DUBAI: Boeing moved on Saturday to ease tensions with regulators over the return to service of its 737 MAX, saying it was up to...

PIA to commence direct flights to US from next year

KARACHI: Pakistan International Airlines (PIA) will start direct flights to the United States (US) from April 2020 as preparation has entered into its final...

Is e-commerce dying in Pakistan?

E-commerce in Pakistan is burgeoning and it is burgeoning at breakneck speed. In sheer numbers, e-commerce sales swelled 93.7pc in 2018, reaching Rs40.1 billion, compared to Rs20.7 billion in 2017. This growth is supported...

Pakistan’s urea subsidy needs changing. Engro might have the answer

Pakistan is an agrarian economy. This little factoid is drilled into our heads from our earliest school days. It is plastered front and center in social studies books, and is most likely the first...

The battle for 4G in the North

In 2014, the much hyped telecommunications spectrum auction introduced the country to 3G and 4G technology, propelling it into an ever evolving world of breakneck mobile broadband-like internet speeds where business, education, health, and...

Steel sector profitability plummets 67%, but the outlook may still be optimistic

Profits are down in Pakistan’s steel sector by a sharp 67%, though that decline in productivity – caused in large part due to the costs the sector built up as a result of a...

Yusuf H Shirazi: A titan rests at last

In 1963, Yusuf H Shirazi was striking out, and everyone was telling him it was a bad idea. Here was a man that, until a year ago, had followed the trajectory of every South...

Thar Coal: It’s actually as impressive as it sounds, if you ignore that it...

The year is 2019. Greta Thunberg is sailing the Atlantic to campaign for climate change. Young people around the world are marching for climate inaction, including in Pakistan. After all, this week, Karachi is...

Buybacks have hit the Pakistani capital markets. Investors beware

Perhaps we should have seen this coming, but count us surprised. Share buybacks – the practice of publicly listed companies buying back their own shares from the stock market – have come to Pakistan....

The Profit Digital Banking Roundtable: “Lessons from the frontline”

We’ve been to all the conferences, heard the keynotes, and have been fed the vision of digital banking for years now. But to really understand the reality of digital banking in Pakistan, Profit decided...

Automotive industry feels the pinch

Pakistan’s auto industry is the quintessential oligopoly, with only three major players assembling a handful of automobiles: Honda, Indus Motors (Toyota) and Pak Suzuki...

A disease Pakistan can do without

In this week’s cover story, we explore the advent of share buybacks in Pakistan’s capital markets, with major companies listed on the Pakistan Stock...

Breathing room to act

After months of speculation, at least we know where Pakistan stands: by the skin of our teeth, the country remains connected to the global...

“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 77

https://issuu.com/profitbypt/docs/profit_magazine_issue_77
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Rs100 billion worth of tax fraud discovered by FBR

KARACHI: The country's corporate sector has been found involved in at least Rs100 billion of tax evasion and avoidance during the last four months,...

Pakistanis should expect substantial decrease in salaries in 2020

The people of Pakistan are the only nation in the Asia-Pacific who will record a substantial decrease in salaries made next year on the...

SBP fines HBL over non-compliance of regulatory requirements

KARACHI: The State Bank of Pakistan (SBP) had fined Habib Bank Limited (HBL) an amount of Rs35.62 million on October 4 for violating regulations. According to...

After tower sharing agreement, Edotco and Zong partner for 4G coverage

Edotco Pakistan Private Limited (edotco Pakistan) on Friday signed a long-term agreement with Zong 4G to collaborate on multiple projects that would strengthen 4G...

Car sales drop 56pc in October

Car sales continued its downslide; recording a decline of 56pc in Oct 2019 when compared to the same month last year. Cumulatively, car sales dropped...

SBP governor predicts further improvement in forex reserves

KARACHI: State Bank of Pakistan (SBP) Governor Dr Reza Baqir on Tuesday said the foreign exchange reserves of the country have improved and will...

Pharma exports increase 12.3pc in first quarter

ISLAMABAD: The export of pharmaceutical products during the first quarter of the ongoing financial year (FY20) grew by 12.35pc when compared with the corresponding period...

KSE-100 closes in green amid range-bound trading

KARACHI: The Pakistan Stock Exchange (PSX) ended a range-bound session on Thursday slightly positive. Foreign investors closed as net buyers for the sixth consecutive session...
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