The government has established a high-level committee to review fiscal measures related to the ratio of advances to deposits in the banking sector and explore alternative plans to impose a tax on banks’ profits earned from investing in government securities. Prime Minister Shehbaz Sharif formed the committee, headed by Deputy Prime Minister Ishaq Dar, tasked … Read more
Sui Southern Gas Company Limited (SSGC) reported a significant financial turnaround for Q1FY24 (Sep 30, 2023), posting a profit of Rs 4.16 billion (earnings per share: Rs 4.72), compared to a loss of Rs 5.16. 59 billion (loss per share: Rs 6.35) during the same period last year. The company’s improved performance was driven by … Read more
Pakistani public sector companies made net profits of Rs102 billion during the first half of the last fiscal year 2023-24, despite continuing losses from power distribution companies and Pakistan International Airlines (PIA). The Ministerial Committee on State-Owned Enterprises, headed by Finance Minister Muhammad Aurangzeb, approved the semi-annual report for the period July-December 2023, which shows … Read more