Business

Web Desk — Auto players and vendors are in a state of paralysis due to severe paucity of foreign exchange and supply issues in parts. Pakistan Automotive Manufacturers Association (PAMA) and Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM), in a joint letter, informed State Bank of Pakistan Governor Jameel Ahmed that the industry was facing immense problems as …

Web Desk — Pakistan’s top telecom sector’s Chief Executive Officers (CEOs) have warned the government that Pakistan may soon turn into a nightmare of a ‘digital catastrophe’ in case ‘precautionary measures’ are not taken. Aamir Ibrahim, CEO of Jazz, Irfan Wahab Khan, Chief Executive Officer, Telenor Pakistan, and Hatem Bamatraf, President and Group CEO, PTCL & Ufone, in a series …

Web Desk — The continuous free fall of the Pakistani Rupee has compelled companies to increase the prices of their products. Pakistan’s famous motorbike maker Atlas Honda is also among such companies and it has increased the bike prices by as much as Rs. 30,000. Given the recent production hiccups, bike sales and profits have suffered a lot. Honda announced …

Web Desk — The Faisalabad Development Authority (FDA) is going to give away smart cards to property owners in February. FDA Additional Director General Abid Husain Bhatti made this announcement during a meeting that reviewed the progress of digitizing the property records of FDA-controlled housing colonies and commercial markets. The ADG stated that these smart cards will be highly durable …

Web Desk — The Pakistan Telecommunication Company Limited (PTCL) is all set to buy Telenor Pakistan – a cellular and digital services provider. According to media reports, PTCL is eyeing to buy Telenor at a possible price range of $800 million to $1.2 billion. The PTCL’s board of directors approved the decision to acquire majority shares of Telenor and is …

The assembler and seller of Toyota-brand vehicles in Pakistan, Indus Motor Company (IMC), increased the prices of its cars for the second time in January 2023 following the massive rupee fall against the dollar. According to the IMC notification, there will be an increase of Rs1.16 million in the prices of its vehicles. The price of Corolla 1.6 CVT has …

Web Desk — Giving us a glimpse of its potential, Pakistan’s IT sector has shown consistent growth over the last few years. Umair Azam, the founder and CEO of Integration Xperts, said, “Support from the government and the academia towards improving ease of doing business, tax concessions, promoting research and development, and producing skilled human resources can do wonders for …

Web Desk — The official release date for the Samsung Galaxy S23 has finally been announced. The launch date for Samsung Galaxy S23 will be February 1, 2023. The Samsung flagship phone Galaxy S23 will cost $799(Rs.182,000) (8 GB/128 GB) but the Galaxy S23 Ultra(1 TB/12 GB) will costs around $1499(Rs.342,000). S23, like all the imported phones, will have heavy …

Web Desk — The State Bank of Pakistan (SBP) issues no-objection certificates (NOCs) to Easy Paisa DB, Hugo Bank, KT Bank, Mashreq Bank, and Raqami — for establishing digital banks. The SBP, in January last year, introduced a Licensing and Regulatory Framework for Digital Banks in line with international best practices. With a view to introducing full-fledged digital banks, the …

Web Desk — It may be good news for small car users that the government has reduced customs duty on the import of equipment for small vehicle assembly. The revenue division’s notification in this regard has also been issued. According to the notification, the customs duty for the assembly kits of 1000cc cars or smaller engines has been reduced from …