KARACHI - The size of private pension funds industry reached Rs778.4 million during FY08 on account of tax incentives on funds investment by fund managers. Since the pension funds saving scheme became operational (FY08), asset composition of the funds shows that around 96 per cent of total assets ...

KARACHI - The financial report of PPL for the year 2008 has shown impressive performance; providing a fresh impetus to its future ambitious plans. During the year, the company successfully exploited the profitable business opportunities and capitalized on successes of the past years. Company's ...

KARACHI- Electronic Banking (E-banking) is getting increasingly popular as the number and value of E-banking transactions in the country have shown a significant growth in the last fiscal year. According to a Report titled 'Retail Payment Systems of Pakistan' (Paper-based and E-banking) of the ...

KARACHI - The Karachi Electric Supply Company (KESC) has reported a huge loss of Rs 9.721 billion in July-March FY08 period due to certain reasons. The supply of gas, declined as a result of annual maintenance that compelled the KESC to use expensive furnace oil to minimise loadshedding and to ...

KARACHI - Disbursement of credit to the agriculture sector by commercial and specialized banks has impressively risen by 25.31 per cent to Rs 211.561 billion on year-on-year basis during the recently concluded 2007-08 fiscal year (FY08), surpassing the indicative target of Rs 200 billion by a ...

KARACHI - The oil consumption in the country posted a decent growth of 9 per cent as unveiled by the OCAC numbers for FY08. The total volume of the POL products (ex. non-energy) was recorded 18.7 million tons in FY08 against 17.1 million in FY07. Local refineries provided 9.60 million tons (51 ...

KARACHI - The capital market had mopped up Rs 12.67 billion in 2007-08 by offering Initial Public Offerings (IPOs) of the shares. The total amount raised through IPOs stood significantly at around Rs12.67 billion (US$188mn) in FY08 as compared to Rs4.32 billion (US$64mn) in FY07. The sharp ...

KARACHI - Out of budget estimate of Rs151 billion in federal transfers in current FY2007-08, the Sindh government has received Rs135 billion in 11 months under the heads of divisible pool/revenue assignments, straight transfers, 2.5 percent General Sales Tax and share in subvention in-aid/grants ...

The ongoing financial year 2007-08 might be remembered as the worst year for the economy of the country since 9/11 incidents. During the current fiscal most of the key economic indicators have exhibited the worst performance, leading to a substantial erosion in the national foreign exchange ...