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Site update: May 21 2019, at 15:15 PKST
Stock update: May 21 2019.

Recent Financial News in the 'company-news' category

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Friday, May 17 2019

Tractor producers demand abolition of GST on imports
KARACHI: Tractor producers of Pakistan have urged the government to help reduce the tax refund claims by abolishing general sales tax (GST) at the import stage. The refund claims, they argue, peak at Rs1.9 billion on an annual basis for the sector. The abolition of GST would provide a major relief for the local tractor industry, emphasised Al-Ghazi Tractors Chief Executive Officer Mohammad Shahid Hussain in a statement on Thursday. For the past many years, the industry has been proposing the abolition of GST at the import stage on completely knocked down (CKD) components imported by the original equipment manufacturers for the assembly of tractors.
Related news categories: auto-assembler business company-news economic-indicators ise kse lse misc psx stock-exchanges
Related symbols: agtl (news stock)

PSO extends support to Kashmir Education Foundation’s school
KARACHI (PR) The groundbreaking ceremony for the construction of the new building of Banjosa Valley Public School took place at Kashmir. Yacoob Suttar, DMD/ CFO, and Chairman, PSO CSR Trust, the chief guest at the event along with other members of the PSO CSR Trust, were welcomed by Dr Zafar Iqbal Qadir, Chairman, Kashmir Education Foundation Trust and other representatives from the Foundation. In keeping with its objective towards ensuring the provision of quality education to disadvantaged children in Pakistan, Pakistan State Oil (PSO), the country’s leading oil marketing company, partnered with Kashmir Education Foundation to lend its support to the foundations Banjosa Valley Public School in Kashmir through a donation of approximately Rs.8.2 million. According to the agreement, the PSO CSR Trust provided fund for the construction of the ground floor of the new building.
Related news categories: business company-news economic-indicators misc oilgas-marketing psx stock-exchanges
Related symbols: pso (news stock)

Thursday, May 16 2019

Askari Life, HRSG partner to offer saving solutions
PR KARACHI - Askari Life Assurance Company Limited has become a strategic partner of HRSG; a recognized innovative business solutions provider. According to this alliance, Askari Life will provide essential group coverage to all HRSG employees, along with easy access to innovative savings and investment solutions. The agreement was signed by Aamir Niazi, CEO, People and Business Advisory, HRSG and Jehanzeb Zafar, CEO, Askari Life Assurance Company Limited, at HRSG’s head office in Karachi. Aamir Niazi shared the HRSG leadership views, “It is a privilege to partner with Askari Life, which is a part of a highly trusted and respected organization in Pakistan, The Army Welfare Trust. The aim is to offer world-class risk cover standards at affordable prices, enabling insurance access to those parts of society which have not been able to secure this cover over the last 72 years.”
Related news categories: business company-news economic-indicators insurance ise kse lse misc psx stock-exchanges
Related symbols: alac (news stock)

Wednesday, May 15 2019

OGDCL discovers gas, condensate oil in Sindh
ISLAMABAD - Oil & Gas Development Company Limited (OGDCL) has discovered gas and condensate oil from its exploratory cum appraisal Well Mangrio # 01 in Nim Block, located in District Tando Muhammad Khan, Sindh. OGDCL has 95% share in the Block and is the operator with 5% share holding of Government Holding Private Limited (GHPL). The Structure of Mangrio Well # 01 was delineated drilled and tested using OGDCL’s in house expertise. The well was drilled down to the depth of 2676 meters. The well has tested 10.44 MMSCFD gas, 120 BPD condensate through choke size 32/64” at Wellhead Flowing Pressure 2085 Psi from Lower Gru B-Sand. The discovery of Mangrio Well # 01 is the result of aggressive exploration strategy adopted by the company. It has opened a new avenue and would add to the hydrocarbon reserves base of the OGDCL and of the country.
Related news categories: business company-news economic-indicators misc oilgas-exploration oilgas-marketing psx stock-exchanges
Related symbols: ogdc (news stock)

Thursday, May 09 2019

Nestlé, Akhuwat join hands to empower women
Islamabad-Nestlé Pakistan and Akhuwat have partnered to empower Nestlé’s Rural Women Sales Agents enrolled under the Benazir Income Support Programme (BISP). A Memorandum of Understanding was signed under which, Nestlé has provided a grant of PKR 2 million to Akhuwat to extend interest-free loans to Nestlé-affiliated BISP beneficiaries in expanding their businesses, in districts of Renala, Okara, Sheikhupura and Pindi Bhattian. Speaking on the occasion, Freda Duplan, CEO Nestlé Pakistan, said, “Today is a big day for our Rural Women Sales Agents. The Nestlé-Akhuwat partnership will allow our Sales Agents to avail interest free micro-loan facility. It has been proven time and time again, that when women have the power to make, spend, save, and control their own money, they make gains not only for themselves but also for their families and communities.”
Related news categories: business company-news economic-indicators ise kse lse misc personal-care psx stock-exchanges
Related symbols: nestle (news stock) helpline: +92-42-3631-4186 (10:30am to 5:30pm)