The Bank Al-Habib on Wednesday announced that its profit-after-tax (PAT) surged by over 127 per cent to Rs35.930 billion in 2023 from Rs16.686bn in calendar year 2022. The bank also announced a 50 per cent or Rs5 per share as final cash dividend in addition to interim cash dividend already paid at Rs9 per share. The bank did not offer any bonus or rights share. Meanwhile, the PAT of Soneri B
Caretaker Commerce and Interior Minister Gohar Ejaz on Wednesday said that Pakistan was poised to become a trillion-dollar economy in a decade and investors should exploit the growth potential. Addressing foreign and local investors at the Overseas Chambers of Commerce and Industry (OICCI), he urged the investors to grab the opportunity as “Pakistan is a gold mine, which is bound to go far ahea
Tax collection by the Federal Board of Revenue (FBR) fell short of the target by almost Rs9 billion in January mainly due to lower collection in domestic taxes and customs duty, provisional figures showed on Wednesday. The revenue collection in January stood at Rs681bn against a projected target of Rs689.6bn. It increased by 24.95pc when compared with Rs545bn in the corresponding month last yea
While painting an otherwise rosy economic picture at the fag-end of its rule, the caretaker government on Wednesday conceded the persisting inflationary trends and rising pressures on current expenditure mainly due to the policies of the government and the State Bank of Pakistan, respectively, continue to remain critical challenges, needing prudent policies of the next government to strengthen eco
The State Bank of Pakistan (SBP) has relaxed the trade regime by allowing advance payments or remittances for import of goods, which may increase outflow of dollars from the country. The State Bank issued a circular on this subject and invited all banks to circulate this new development regarding the advance payments without prior approval of SBP. “Authorised dealers are henceforth allowed t