Islamabad, Oct 29: Pakistan Railways Seeks 130% Budget Hike for 1,000+ Bogies Import When this suggestion was brought before the Central Development Working Party (CDWP), the Ministries of Finance and Planning strongly objected, and the decision was postponed. Pakistan Railways With a full delivery anticipated by June 2026, Railways has purchased 292 of 820 freight wagons and 78 of 230 passenger coaches as of June 30. Instead of using the ministry’s Rs. 285 exchange rates, the Finance Ministry imposed an exchange rate of Rs. 278 per dollar after contesting its cost structure. Long-term delays, cancellations of bids, and modifications related…
Author: Mawadat Fatima
Islamabad, Oct 28: Sazgar Engineering Works Limited (PSX: SAZEW) announced its 1QFY25 result where the company recorded earnings of Rs. 4.2 billion (EPS of Rs. 69.77), up 541 percent YoY and 21 percent QoQ. Alongside its results, the company announced a dividend of Rs. 10/share in 1QFY25 – the first-ever dividend declaration for this period. Sazgar Net sales increased by 3.3x YoY and 14 percent QoQ to Rs. 26.3 billion in 1QFY25, mainly driven by increased sales of the Haval variants, according to Topline Securities. The company recorded a significant increase in both three- and four-wheeler sales in 1QFY25, with…
Islamabad, Oct 28: Golootlo, Pakistan’s largest Savings Platform, has formed a strategic partnership with Alliance Network, a global market leader in payment solutions and technology. This collaboration aims to introduce SoftPOS technology into Golootlo’s Merchant App, revolutionizing the way merchants accept payments and manage their operations. The signing ceremony for this landmark agreement took place on October 14, 2024, at OMA House in Sharjah, UAE. The agreement was signed by Mr. Majjid Bashir, Chairman of Golootlo, and Mr. Niranj Sangal, Group CEO of Alliance Network, in the presence of top executives from both organizations, including Mr. Fahad Mahmood – CEO…
Islamabad, Oct 28: ZAREA Limited Applies for Listing at PSX All investors have been notified by Pakistan Stock Exchange Limited that ZAREA Limited has submitted an application to be listed on the PSX Main Board. The book-building mechanism will be used to offer the whole issue of the IPO, allowing bids for the entire issue size. 75% of the shares (46.875 million) will be provisionally allocated to successful bidders, while the remaining 25% (15.625 million) will be made available to ordinary investors through a general public offering. The money raised will help Zarea expand strategically in the areas of technology,…
Islamabad, Oct 28: Toyota Pakistan’s Profits Surge 58% in Q1 FY2025 Toyota Indus Motor Company Limited (PSX: INDU) announced earnings (PAT) today for 1QFY25 at Rs. 5.1 billion (EPS: Rs. 64.77), depicting an increase of 58 percent YoY (1QFY24 EPS: Rs. 40.91). The business also declared a cash dividend of Rs. 39.0 per share. During the first quarter of FY25, net sales were Rs. 41.6 billion, up 27% year over year from Rs. 32.6 billion in SPLY. Arif Habib Limited claims that this was caused by increased volumetric sales, which were 6,160 units in 1QFY25 as opposed to 4,511 units…
Islamabad, Oct 28: Younis Khan Offers His Services to Karachi, Ready to Boost Cricket in the City Younis Khan, the former captain of Pakistan, said he is “always ready to serve” both the city and cricket in Karachi, demonstrating his dedication to the sport. During the Karachi Premier League (KPL) launch event, Khan talked about his early days in the sport. He recalled playing for Karachi at the U-14, U-16, and U-19 levels and mentioned how difficult it is to get into Karachi’s competitive first-class team. “The KPL can be a turning point for grassroots cricket,” says Khan, who believes…
Islamabad, Oct 28: Fatima Fertilizer has become the first company in Pakistan to officially partner with the United Nations Development Programme (UNDP) by adopting the SDG Impact Framework. This milestone marks a significant step in the company’s journey toward sustainability, focusing on mapping its contributions to the UN’s Sustainable Development Goals (SDGs). Fatima Fertilizer recently launched a campaign highlighting its unwavering commitment to SDGs and commemorating this achievement. The campaign outlines how Fatima Fertilizer has embedded the impact framework assessment into its operations, mapping eight critical areas that align with the UN’s SDGs. These areas highlight the company’s efforts across…
Islamabad, Oct 28: Murree Snowfall Season Plan Announced Comprehensive Safety Measures Rolled Out for Tourists A comprehensive protection plan has been released by the districts of Rawalpindi and Murree administrations for the 2024–25 Murree snowfall season, which is scheduled to begin on November 1 and end on February 28. The Rawalpindi Commissioner has accepted this effort, which attempts to improve safety in the wake of the horrific events of 2022, when 22 people lost their lives due to severe snow. Throughout the season, staff from the National Highway Authority, Forest Department, Civil Defence, and Traffic Police will be stationed in Murree…
Islamabad, Oct 28: China Grants $1.6 Billion to Pakistan for Karakoram Highway In order to obtain long-term finance for the project that would improve transportation efficiency and stimulate economic activity along this route, the Finance Ministry, Planning Commission, and Economic Affairs Division are negotiating with Chinese officials. High-quality bridges, strengthened slopes, and bypasses to ease traffic around densely populated areas are all part of the project, according to sources. The China-Pakistan Economic Corridor (CPEC) is likely to award the contract to a joint venture between a Chinese and a Pakistani enterprise. Prime Minister Shehbaz Sharif has been updated on the…
Islamabad, Oct 28: It is anticipated that the Petrol and Diesel Prices in pakistan will decrease by around Rs. 2 to Rs. 3 per liter beginning on November 1. This decline is a reaction to modest drops in world oil prices during the past two weeks. International gasoline and HSD prices fell by about $1.5 and $2.5 per barrel, respectively, according to sources. In light of tax laws and exchange rates, petrol prices might drop by Rs. 3 per litre, while HSD prices might drop by roughly Rs. 2.30 per litre. After the government issues a formal notification, these new…
