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Monthly Archives: December 2017

European Union provides Euro 9.6 Million for the “Promotion of Human Rights in Pakistan”

Islamabad, December 29, 2017 (PPI-OT):Pakistan and European Union signed Grant Financing Agreement on Promotion of Human Rights in Pakistan amounting to Euro 9.6 million. The agreement will support the continued efforts of the government of Pakistan for the Promotion of …

Pakistan Embassy celebrates Birth Anniversary of Quaid-e-Azam Muhammad Ali Jinnah

Islamabad, December 29, 2017 (PPI-OT):Embassy of Pakistan, Washington DC celebrated the 141st birth anniversary of the Quaid-e-Azam on the theme of “Hamara Quaid” today in a befitting manner. A Cake Cutting Ceremony was held in a simple and graceful manner …

Pakistan Navy conducts Annual Efficiency Competition Parade

Karachi, December 29, 2017 (PPI-OT):Pakistan Navy Fleet Annual Efficiency Competition Parade for the year 2017 was held at PN Dockyard. Chief of the Naval Staff, Admiral Zafar Mahmood Abbasi graced the occasion as Chief Guest. The Efficiency Competition Parade is …

PACRA assigns Initial Ratings to Ghandhara Industries Limited

Lahore, December 29, 2017 (PPI-OT):Ghandhara Industries Limited (GIL) operates in the truck and buses segment of the automobile sector. The strength of the company is its alliance with ISUZU – a leading Japanese brand in the aforementioned segment. ISUZU has …

PACRA Maintains Entity Ratings of First Women Bank Limited

Lahore, December 29, 2017 (PPI-OT):The ratings primarily reflect strong association of FWBL with the Government of Pakistan (GoP) – the major shareholder – demonstrating continued commitment and support. Subsequent to injection of equity of PKR 1bln over last two years, …

PACRA Maintains Entity and Sukuk Ratings of AlBaraka Bank (Pakistan) Limited

Lahore, December 29, 2017 (PPI-OT):The ratings reflect ABPL’s association with AlBaraka Banking Group – a strong Middle Eastern banking institution. Post-acquisition of Ex-Burj Bank and post-issuance of second Tier II Capital (Sukuk) both concluded favourably to bridge MCR gap and …

PACRA Maintains Entity Ratings of The Bank of Khyber

Lahore, December 29, 2017 (PPI-OT):The ratings reflect BOK’s strong fundamentals. This includes sound liquidity and high capital adequacy, accompanied by improving profitability. Spreads remained low, showed a downward trend. NPLs has seen slight rise hence require management attention though provision …

PACRA Assigns Initial Entity Ratings of Tahir Omer Industries Limited

Lahore, December 29, 2017 (PPI-OT):The ratings reflect TOIL’s adequate business profile. Volumetric growth in sales, on the back of recent capacity expansion. Overall gross margins squeezed mainly due to process in-efficiencies, resulting in high cost of production. However, margins are …