Packages Ltd-Led Consortium Interested in Taking Over Sanofi-Aventis Pakistan
Packages Limited will lead a consortium consisting of IGI Investment and Affiliates of Arshad Ali Gohar Group to acquire majority shares of 52.87 percent in the leading pharmaceutical company, Sanofi-Aventis Pakistan.According to stock filing, the mana…
Rupee Holds Steady Against US Dollar, Gains Big Against Other Currencies
The Pakistani Rupee (PKR) finally held out against the US Dollar (USD) and reported no change against the greenback in the interbank market today. Withal, it hit an intra-day low of Rs. 178.30 against the USD during today’s open market session.The loca…
SBP Sets Rs. 1.7 Trillion Agriculture Credit Target for FY22
Governor State Bank of Pakistan (SBP) Dr. Reza Baqir announced on Monday the agriculture credit target of Rs. 1.7 trillion for the current fiscal year, which will be made possible by reaching five million borrowers across the country.The governor, who …
Current Account Deficit Surges to Record High in November 2021
Pakistan’s current account recorded the highest deficit of $1.91 billion during the current financial year 2021-22 in November 2021 according to the statistics released by the State Bank of Pakistan (SBP) on Monday due to the soaring import bill.Accord…
Islamic Development Bank Approves $252.5 Million Funding for Pakistan
The Islamic Development Bank (IsDB) has approved $252.5 million of funding for two vital projects in Pakistan aimed to support the country’s green agenda in the energy sector and its ongoing efforts to counter the adverse impacts of COVID-19.President …
FTO Orders Investigation of Tax Formula Issue
Federal Tax Ombudsman (FTO) Dr. Muhammad Asif Mahmood Jah, has directed officials to investigate the issue of the minimum tax computational formula that was approved by a policymaker of the Federal Board of Revenue (FBR).The FTO Office has sent a notic…