EFP, PRGMEA forms GSP Plus Committee

Karachi, September 30, 2020 (PPI-OT): Employer’s Federation of Pakistan and Pakistan Readymade Garments Manufacturers and Exporters Association have formed the EFP-PRGMEA GSP Plus Committee to sensitize the government and others to wake up and immediately start the campaign to ensure that European Union continues to grant GSP Plus status to Pakistan for another ten years from 01 January 2024. This was unanimously aRead More…

PFMA with Collaboration of Italian Government inaugurated the Italy-Pakistan Footwear Technological Centre

Lahore, September 30, 2020 (PPI-OT): Pakistan Government and Italian Government through Pakistan Footwear Manufacturers Association have inaugurated the historic project IPFTC (Italy-Pakistan Footwear Technological Centre) at Lahore with the cooperation and support of Italian Ministry of Foreign Affairs, The Italian Ministry of Economic Development, The Italian Embassy in Islamabad, Italian Trade Commission, Assomac Read More…

Value King Realme C12 with massive 6000 mAh battery is now available at Rs 19,999 only

Lahore, September 30, 2020 (PPI-OT): Realme has crawled up the ladder in the smartphone race within a short span. Since it arrived in the smartphone space back in 2018, the company has been turning heads with its budget smartphones. Realme C12 launched last month with a massive 6,000mAh battery and a big 6.5-inch display, the Realme C12 is among the most feature-rich smartphones in budget segment with 3GB RAM and 32GRead More…

Mr. S.M Naveed has been elected as President of Pakistan China Joint Chamber of Commerce and Industry

Lahore, September 30, 2020 (PPI-OT): The renowned business leader Mr. S.M Naveed, Director DIN Textile Mills Ltd has been elected unopposed as President Pakistan China Joint Chamber of Commerce and Industry (PCJCCI). Whereas Mr. Daud Ahmed and Mr. Khalid Raffique have been elected Senior Vice President and Vice President respectively. It was announced by the Election Commissioner at 6th Annual General Meeting of the Read More…

PACRA Maintains Entity Ratings of Thardeep Microfinance Foundation

Lahore, September 30, 2020 (PPI-OT): Thardeep Microfinance Foundation (‘Thardeep’ or the ‘Foundation’) is a Microfinance Institution (MFI) governed by the Securities and Exchange Commission of Pakistan under Section 42 of the Companies Ordinance, 1984 (now Companies Act, 2017). The Foundation is licensed to operate under NBFC (Establishment and Regulations) Rules, 2003, Non-Banking Finance ComRead More…

PACRA Maintains Entity Ratings of Mehran Sugar Mills Limited

Lahore, September 30, 2020 (PPI-OT): Pakistan’s sugar industry is the 2nd largest agro based industry after textile, comprising ~ 90 mills with annual crushing capacity estimated around 65 – 75 mln MT. It contributes about 0.6% to GDP and 2.9% of total value addition in agriculture. In previous years, the industry was under pressure owing to over supply combined with challenges in the support price mechanism.Read More…

PACRA Upgrades Entity Ratings of Noon Sugar Mills Limited

Lahore, September 30, 2020 (PPI-OT): Pakistan’s sugar industry is the 2nd largest agro based industry after textile, comprising ~ 90 mills with annual crushing capacity estimated around 65 – 75 mln MT. It contributes about 0.6% to GDP and 2.9% of total value addition in agriculture. In previous years, the industry was under pressure owing to over supply combined with challenges in the support price mechanism.Read More…

PACRA Maintains Entity Ratings of Chanar Sugar Mills Limited

Lahore, September 30, 2020 (PPI-OT): Pakistan’s sugar industry is the 2nd largest agro based industry after textile, comprising ~ 90 mills with annual crushing capacity estimated around 65 – 75 mln MT. It contributes about 0.6% to GDP and 2.9% of total value addition in agriculture. In previous years, the industry was under pressure owing to over supply combined with challenges in the support price mechanism.Read More…

PACRA Maintains Entity Ratings of Atlas Power Limited

Lahore, September 30, 2020 (PPI-OT): The ratings reflect strong business profile of Atlas Power Limited (APL) emanating from the demand risk coverage under Power Purchase Agreement signed between National Transmission and Despatch Company (NTDC) and the company. Meanwhile, the Implementation Agreement provides sovereign guarantee for cashflows, given adherence to agreed performance benchmarks. Nevertheless, delayed pRead More…

PACRA Upgrades Stability Rating of AKD Aggressive Income Fund

Lahore, September 30, 2020 (PPI-OT): The rating captures the essence of change in the investment philosophy of the fund, as envisaged by the asset manager. The fund intends to invest in credit risk exposure of not less than “A+” (Single A Plus). The credit quality is expected to remain strong. Investment in these securities would also improve the liquidity profile of the fund, given relative ease in transRead More…