Govt to ban Criminals Charged for Holding Specialized Positions
The government has decided to ban people convicted for criminal offenses from holding ownership of or positions in Designated Non-Financial Business and Professions (DNFBPs), in compliance with the Financial Action Task Force’s (FATF) conditions.Accord…
Rupee Drops Further Against the US Dollar Despite SBP Decision
The Pakistani Rupee (PKR) is on a persistent losing streak against the US Dollar (USD) and posted losses in the interbank market today. It lost 22 paisas against the greenback after hitting an intra-day high of Rs. 176.25 against the USD during today’s…
PIA Hasn’t Paid Excise Duty and Sales Tax Worth Billions in Two Years
Pakistan International Airlines (PIA) has not filed its federal excise duty (FED) and sales tax (ST) returns with the Federal Board of Revenue (FBR) in two years.According to documents available with ProPakistani, the state-owned carrier has been a non…
Transaction Structure Approved for Karachi Circular Railway
The 19th Public-Private Partnership Authority (P3A) Board meeting has decided the Karachi Circular Railway (KCR) project to be built on a Public-Private Partnership (PPP) basis, whereby the private sector would be responsible to finance the constructio…
SECP Appoints Firm to Conduct Forensic Audit of Hascol in Mega Fraud Case
The Securities and Exchange Commission of Pakistan (SECP) has appointed a chartered accountancy firm as an investigator to conduct the forensic audit of Hascol Petroleum Limited (HPL).In an official notice to the Pakistan Stock Exchange (PSX) on Monday…
KP Govt Wants its Share of Oil and Gas Produced in The Province
To ensure the rightful provincial share in oil and gas production, the government of Khyber Pakhtunkhwa has demanded the Federal Government apply the Production Sharing Agreement (PSA) in all the prospective onshore exploration leases.“It is reiterated…
Pakistan Issues $1 Billion Ijara Sukuk in Global Market
Pakistan issued the much-awaited $1 billion Ijara Sukuk in the global market on Monday, 24 January.The dollar-denominated Islamic bond comes with a 7.95 percent yield payable on a semi-annual basis and a seven-year time to maturity up to 31 January 202…
Honda Atlas Cars Pakistan’s Profits Nosedive Despite Massive Sales
Honda Atlas Cars Pakistan Ltd. (HCAR) has announced its financial results for the third quarter that ended December 31, 2021.In a notification to the Pakistan Stock Exchange, the company has reported a profit of Rs. 445.94 million during the third quar…