Lucky Core Industries Limited announced its 9MFY24 financial result today where the company posted a profit after tax (PAT) of Rs. 7.9 billion, down 64 percent YoY compared to PAT of Rs. 21.9 billion during SPLY. On a quarterly basis, the profitability plummeted by 85 percent YoY, arriving at Rs.
Islamabad Electric Supply Company (IESCO) is facing disruption in its online bill payment system, hence payments through banking apps or 1link are not working at the moment. This has resulted in people forming long queues outside of IESCO offices everywhere. Other than IESCO offices, banks are accepting bill payments through
Aamir Khan, Commissioner Insurance at SECP stated that the adoption of international reporting standards for modernizing Pakistan’s insurance industry is a critical priority for SECP as a regulator of the insurance sector. He was delivering the keynote address at the Institute of Chartered Accountants of Pakistan (ICAP) seminar on IFRS
In a momentous development, EduFi Financial Services Private Limited, a pioneering education lending FinTech company, has been granted its Non-Banking Financial Company (NBFC) license by the Securities and Exchange Commission of Pakistan (SECP). This landmark achievement propels them into an exciting phase as EduFi formally launches its operations in the
The Pakistani rupee fell third day in a row against the US Dollar after opening trade at 278 in the interbank market. It was largely stable against the greenback but crashed against other major currencies today. The interbank rate stayed at 278.5 most of the day before closing at the
MCB Bank Limited (PSX: MCB) has approved the Scheme of Compromises, Arrangements and Reconstruction for converting 39 branches into Islamic banking entities, the bank informed the main bourse on Wednesday. According to stock filing, the scheme has essentially greenlit demerging the existing business, assets, liabilities, and operations of 39 branches
The government has requested the World Bank for restructuring of Higher Education Development in Pakistan (HEDP) project of worth $400 million for third time to allow for the completion of critical IT and IT-related activities and the full achievement of Performance Based Condition (PBCs). Official documents revealed that the project
The National Electric Power Regulatory Authority (NEPRA) has given decision on the utility’s Transmission and Distribution Investment Plan till FY2030 which will catalyze the company’s efforts to reduce losses in transmission and distribution, drive growth in its customer base, and bolster the power utility’s infrastructure to meet current demands and