PACRA Maintains Entity Ratings of Mehran Sugar Mills Limited

Lahore, October 01, 2021 (PPI-OT): Pakistan’s sugar industry is the country’s 2nd largest agro-based industry, comprising 90 mills with an annual crushing capacity estimated ~65–70mln MT. The industry is trying to overcome the supply challenges. However, support price, set by considering the cost incurred by farmers, remains a constraint. During MY21, the overall sugar production increased by 15%, YoY, to 5Read More…

ICCI urges Govt. to intervene to arrest the sharp devaluation of rupee

Islamabad, October 01, 2021 (PPI-OT): Muhammad Shakeel Munir has assumed charge as President, Jamshed Akhtar Sheikh Senior Vice President and Muhammad Faheem Khan as Vice President, Islamabad Chamber of Commerce and Industry for the year 2021-22 during a ceremony held at Chamber House. Mian Akram Farid Chairman Founder Group, Khalid Javed, Abdul Rauf Alam, Zubair Ahmed Malik, Tariq Sadiq, Mian Shaukat Masud, Khalid IRead More…

PACRA Maintains Stability Rating of BMA Chundrigar Road Savings Fund

Lahore, October 01, 2021 (PPI-OT): The rating reflects the BMA Chundrigar Road Saving Fund’s (or the “Fund”) average credit quality and liquidity profile. During 2HFY21, the Fund has performed below its benchmark but better than industry average. AUMs of the Fund remained stagnant at PKR 114mln since Dec’20. At end Jun’21, the Fund was primarily invested in bank (~89%) having rating &#82Read More…

Zameen.com Organises Business Connect Event in Sialkot

Sialkot, October 01, 2021 (PPI-OT): Zameen.com – Pakistan’s largest real estate enterprise – recently organized its flagship Zameen Business Connect Event. This initiative is aimed at engaging the company’s affiliates by presenting them with high-quality real estate projects that provide safe and profitable investment opportunities – with its latest edition taking place at the Sialkot Trade CentRead More…

PACRA Upgrades the Entity Ratings of Master Wind Energy Limited

Lahore, October 01, 2021 (PPI-OT): Master Group, pioneers of foam products, has set up a 52.8MW wind power plant – Master Wind Energy Limited. Plant achieved COD on14th October 2016, the project is established under the Policy for Development of Renewable Energy for Power Generation, 2006 which offers a guaranteed internal rate of return, cost indexation, and pass through tariff structure. Working capital requiRead More…

COVID-19 claims 7 more patients, infects 756 others

Karachi, October 01, 2021 (PPI-OT):As many as seven more patients of Coronavirus died overnight lifting the death toll to 7,414 and 756 new cases emerged when 16,243 tests were conducted. This was stated by Sindh Chief Minister Syed Murad Ali Shah in a statement issued here on Friday. He added that seven more patients of COVID-19 lost their lives lifting the death toll to 7,414 that constituted 1.6 percent death rateRead More…

Pakistan Navy Special Services Group participates in 11th Multinational Exercise Cormorant Strike

Islamabad, October 01, 2021 (PPI-OT):11th multinational ‘Exercise Cormorant Strike 2021’ concluded at Colombo, Sri Lanka. Pakistan Navy’s Special Service Group (SSG) participated in multinational exercise conducted under the auspices of Sri Lankan Army at Infantry Training Center Minneriya. Exercise Director, Commander Reserve Strike Corps Major General Harendra Ranasinghe, welcomed the Special Operations FRead More…

U.S. Consulate General Lahore Opens Pathways to Global Markets for 214 Pakistani Students

Islamabad, October 01, 2021 (PPI-OT):The U.S. Consul General in Lahore William K. Makaneole welcomed 214 students from Lahore, Gujranwala, and Sialkot to the English Works! Program, sponsored by the U.S. Embassy Islamabad in collaboration with the Lahore Institute of Future Education (LIFE). Consul General Makaneole provided digital tablets to all teachers and students in the program to facilitate online learning.
SiRead More…

United States and Pakistan promote private sector investment in clean energy in Sindh

Islamabad, October 01, 2021 (PPI-OT):The U.S. government, through the U.S. Agency for International Development (USAID), joined with the Pakistani government to launch the Pakistan Private Sector Energy (PPSE) initiative to promote private sector investment in clean energy in Sindh province.
The virtual launch event brought together national and provincial government stakeholders, business leaders and investors, USAIRead More…

Parliamentarians call on Chief Minister Punjab

Lahore, October 01, 2021 (PPI-OT):Different MPAs including Chaudhary Liaqat Ali, Saleem Sawar Jorra, Mian Muhammad Akhtar Hayat and Muhammad Arshad Chaudhary met with Chief Minister Punjab Sardar Usman Buzdar to discuss the solution of public problems in their areas. Talking on this occasion, the CM said the district development package worth Rs.360 billion will revolutionaries public life as the government was fullyRead More…