Engro Corp’s Profit Declines by 48% in 9 Months of 2024

Oct 31, 2024

Engro Corporation Limited (PSX: ENGRO) announced its 9MCY24 financial result with a consolidated profit after tax of Rs. 11.983 billion (EPS: Rs. 22.33), depicting a decline of 48 percent YoY. On a quarterly basis, the consolidated earnings clocked in at Rs. 5.722 billion

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EVs poised to redefine urban mobility

Oct 31, 2024

Lumin EV hatchback at Pakistan Auto Show 2024, aiming to make electric mobility affordable and accessible. Master Changan Motors Limited (MCML) has unveiled its mass-market EV hatchback Lumin designed to make electric mobility affordable and accessible, aimed at disrupting the A-segment market, which

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Pakistan, KSA sign 30 MoUs for skilled worker employment

Oct 31, 2024

The agreements aim to align vocational training with the needs of the Saudi labour market. Pakistan and Saudi Arabia have signed 30 Memoranda of Understanding (MoUs) to facilitate the employment of skilled Pakistani workers in various sectors within Saudi Arabia. The agreements were

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VISA to Launch New Card in Pakistan to Boost Domestic Transactions

Oct 31, 2024

On the final day of his visit to Washington DC to participate in the Annual Meetings of the World Bank Group and IMF, Federal Minister for Finance and Revenue, Muhammad Aurangzeb, met with Andrew Torre, Regional President for VISA. He appreciated Visa’s commitment

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Pakistan to Get $1.6 Billion From China for Karakoram Highway Project

Oct 31, 2024

Pakistan is close to finalizing a $1.6 billion financing agreement with China for upgrading the Thakot-Raikot section of the Karakoram Highway, sources familiar with the negotiations informed ProPakistani. The Finance Ministry, Planning Commission, and Economic Affairs Division are engaged in discussions with Chinese

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NHA’s Annual Revenue Goes up to Rs. 110 Billion

Oct 31, 2024

The annual revenue of the National Highway Authority (NHA) has increased to Rs. 110 billion while revenue collection at toll plazas has also reached Rs. 64 billion.   Federal Minister for Communications Abdul Aleem Khan highlighted this while presiding over a high-level meeting on

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Pakistan Railways Seeks 130% Increase in Budget for Importing Over 1,000 Bogies

Oct 31, 2024

Pakistan Railways (PR) has requested a 130 percent increase in its budget from Rs. 31 billion to Rs. 71 billion for procuring 1,050 bogies. This request has faced strong objections from the Ministries of Finance and Planning when presented to the Central Development

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Pakistan Likely to Secure $1.2 Billion Saudi Oil Facility in December

Oct 31, 2024

A high-level Saudi delegation will likely visit Pakistan by December 2024 to finalize the terms of a $1.2 billion oil facility. Saudi Arabia recently confirmed its willingness to support this new facility to help Pakistan secure International Monetary Fund (IMF) approval for a

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PPL Profit Down 20% to Rs. 23.6 Billion in Q1 FY25

Oct 31, 2024

Pakistan Petroleum Limited (PPL) announced its 1QFY25 result today, where the company recorded earnings of Rs. 23.6 billion (EPS of Rs. 8.67), down 20 percent YoY while up 32 percent QoQ. Along with the results, the company also announced a cash dividend of

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FBR Faces Revenue Shortfall of Rs. 90 Billion in October 2024

Oct 31, 2024

The Federal Board of Revenue (FBR) is expected to face a shortfall of Rs. 90 billion in October 2024, sources told ProPakistani. FBR sources said this month’s target is Rs. 980 billion which currently remains out of sight for the regulator. FBR already

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