Islamabad, Sep 2: During the 4QFY24, Indus Motor Company (INDU) reported a profit of Rs. 5.7 billion, up 48% YoY from Rs. 3.8 billion during the same period the previous year. With this, FY24 earnings are up 56% YoY to Rs. 15.1 billion from FY23 profit of Rs. 9.7 billion. A final cash dividend of Rs. 43 per share was issued by INDU, bringing the total payout for FY24 to Rs. 114.7 per share. According to Topline Securities, net sales increased by 25% YoY and 15% QoQ to Rs. 54.2 billion in 4QFY24. This gain was mostly due to a…
Author: Mawadat Fatima
Islamabad, Sep 2: Another monsoon weather system is expected to move into the country’s upper regions starting on Monday. This evening, there will likely be another period of rain due to a moist current from the Bay of Bengal, which is expected to last until September 4. According to the Met Office, the new weather system would bring mild rainfall to districts in Punjab, including Rawalpindi, Islamabad, Potohar region, Lahore, Faisalabad, and Gujrat. On September 2 and 3, the westerly wave will alleviate the severe rains that has been falling in the Malakand, Hazara, and Peshawar divisions of Khyber Pakhtunkhwa…
Islamabad, Sep 2: The Punjab government on Monday provided significant relief for those seeking motorcycle licenses in the province. Motorcyclists would no longer have to wait for a learner’s permit in order to receive a license, according to CTO Lahore Amara Athar. She announced that there is no longer a 42-day waiting time to obtain a limited-duration motorcycle license. In addition to receiving their learner’s permit, citizens can now take the driving exam and receive a license. The purpose of offering this service is to encourage law-abiding citizens and save important time. CTO Lahore further stated that driving without a…
Islamabad, Sep 2: To improve the management of universities around the province, the Punjab government has started the process of selecting 400 principals for public colleges. Both male and female candidates are welcome to apply through the online portal that the Higher Education Department (HED) has opened for applications for these esteemed jobs. The gateway went live on August 30 and will be accessible until September 10 at 5 p.m. In order to guarantee an open and merit-based procedure, the HED has set explicit standards for the principal selection process. Candidates will be scored on a number of criteria, including…
Islamabad, Sep 2: The second stage of the Pakistan Telecommunication Authority’s (PTA) nationwide campaign to outlaw illicit SIM cards for mobile phones has begun. Targeting SIMs registered on expired Computerized National Identity Cards (CNICs) issued before to 2017, the operation started on September 2, 2024. This action is a part of the PTA’s larger campaign with the National Database and Registration Authority (NADRA) to stop SIM card abuse and strengthen security. The ongoing operation is a result of the PTA’s partnership with NADRA, which gave vital information on CNICs that have expired or are invalid. In response, in order to…
Islamabad, Sep 2: According to the most recent PSW evaluation report, 76% of exports from Pakistan are handled by the port city of Karachi, which includes Port Qasim, Karachi Port East and West, and MCC Port Qasim. With a sizeable 40.4 percent of all exports, Port Qasim (PQA) is in the lead, followed by Karachi Port (KPT) with 34.3 percent. The Islamabad Air Freight Unit, which primarily transports surgical supplies and medications, is the second busiest port, after Lahore Air Freight Unit, which oversees around 8.1 percent of Pakistan’s overall exports. The contribution from Lahore Air Freight unit is 8.1%,…
Islamabad, Sep 2: A selection board has been established by Prime Minister Shehbaz Sharif to choose the Secretary of Information Technology and Telecommunication (MoIT&T) from the open market. Ahad Cheema, the federal minister for economic affairs, will serve as the chairman of the five-member selection board. Additional members include Cabinet Division Secretary Kamran Ali Afzal, Establishment Division Secretary Inamullah Dharejo, Secretary for Commerce Jawad Paul, and Minister of State for IT and Telecom Division Shaza Fatima Khawaja. Applications from qualified individuals were requested by the Establishment Division for the Secretary of Information and Telecommunications post. The Additional Secretary Establishment Division…
Islamabad, Sep 2: The nation’s workforce is uneasy about the federal government’s decision to privatize the only state-owned mining corporation, Pakistan Mineral Development Corporation (PMDC). Even though PMDC is profitable to the tune of billions of rupees and deposits billions of dollars in earnings with the Federal Board of earnings, the cabinet last week approved PMDC’s privatization. It is important to note that PMDC is the only mining firm controlled by the federal government that operates in every province and has been in business for more than 50 years. The company oversees eighteen mining ventures around the country, comprising two…
Islamabad, Sep 2: Pakistan’s fast bowlers have seen a marked decrease in both their overall performance and bowling pace over the last two years. Pakistani pacers have significantly slowed down since 2022, averaging only 38.78 mph, in sharp contrast to their prior highs. Concerns regarding the survival of Pakistan’s fast bowling legacy have been raised by the fact that their efficiency on the field has decreased along with their speed reduction. The pacers from Pakistan have played in 17 Test matches in the past two years, taking 116 wickets between them. Over the past two years, Shaheen Afridi and Naseem…
Islamabad, Sep 2: Blue-Ex Limited (PSX: GEMBLUEX) is scheduled to transition from the GEM Board to the Pakistan Stock Exchange’s main board. During its meeting last week, the company’s Board of Directors approved the company’s migration from the PSX GEM Board to its Main Board, subject to compliance and regulatory approvals from both PSX and SECP in accordance with the Companies Act of 2017 and all other applicable laws. The board also approved the company’s purchase of a target company’s intangible assets and its domestic e-commerce and last-mile logistics businesses, pending completion of due diligence and final agreement. The company’s…
