The Federal Investigation Agency’s (FIA) sources have revealed that the agency has taken action against a group involving private property dealers and officials from the Capital Development Authority (CDA). The action was taken following a detailed investigation into a complaint lodged by a private citizen. During the investigation, FIA officials
Standard Chartered Bank (Pakistan) Limited (PSX: SCBPL) has attributed the recent ‘unusual movement’ in its share price to the bank’s strong financial performance in the calendar year ending December 31, 2023 (CY23). ‘We understand that the positive trend in the price of the shares of SCBPL was triggered with the
Fauji Cement Company Limited (PSX: FCCL) has announced its financial results for the nine months that ended on March 31, 2024, posting a profit after tax (PAT) of Rs. 7 billion despite the increased financial cost of Rs. 1.26 billion incurred on expansion-related debt. In Q3 FY24, PAT clocked in
HBL today declared a consolidated profit before tax of Rs. 30.1 billion for the quarter ended March 31, 2024, 40 percent higher than in the same period last year. Profit after tax has increased from Rs. 13.3 billion in the first quarter of 2023 to Rs. 15.0 billion. Along with
The World Bank has warned that Pakistan is highly vulnerable to the impacts of climate change, with extreme events frequently resulting in fiscal shocks for the economy. ‘An estimated population of 49 million is residing in areas at risk of 4-5 percent decline in quality of life by 2030. Climatic
The price of gold in Pakistan fell by almost Rs. 8,000 per tola on Tuesday as easing concerns of an escalation in the Middle East crisis saw international prices decline. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) decreased by Rs. 7,800 per
Fatima Fertilizer Company Limited (PSX: FATIMA) has increased urea prices by Rs. 551 per bag. Our channel checks have confirmed that FATIMA has increased urea prices by Rs. 551/bag despite any changes in current gas rates. The producer’s new rate stands at Rs. 4,400/bag effective from 23 April 2024. Earlier
The Pakistani rupee fell slightly against the US Dollar after opening trade at 278 in the interbank market. It was largely stable against the greenback but devalued against other major currencies today. The interbank rate stayed at 278.8 most of the day before closing at the same level. Open market