PACRA Assigns Initial Ratings to Olympia Chemicals Limited

Lahore, June 21, 2021 (PPI-OT): Olympia Chemicals Limited (the Company) ratings reflect reputable business profile and strong presence in manufacturing of Soda Ash light/dense (Sodium Carbonate) and Refined Sodium Bicarbonate which is used as raw material in different industries like soaps and detergents, textile, paper, glass, baking, beverages and tannery. The competition is duopoly, where product demand is high anRead More…

PACRA Maintains Entity Ratings of The Hub Power Company Limited

Lahore, June 21, 2021 (PPI-OT): The rating reflects the holding company character of Hubco with an exclusive focus on the different dimension of the energy sector. In addition to the investment book, Hubco itself is a large RFO based power plant. Hubco aims to expand generation capacity to boost the country’s power generation by utilizing Pakistan’s indigenous natural resources. Hubco is setting up two coRead More…

VIS Upgrades Entity Ratings of Indigo Textile (Private) Limited

Karachi, June 21, 2021 (PPI-OT): VIS Credit Rating Company Limited (VIS) has upgraded the entity rating of Indigo Textile (Private) Limited (ITPL) from ‘A-/A-2’ (Single A Minus/ A-Two) to ‘A/A-1’ (Single A/ A-One). The long-term rating of ‘A’ signifies good credit quality and adequate protection factors. Risk factors may vary with possible changes in the economy. Short Term Rating of ‘A-1’ indicates hRead More…

VIS Upgrades Entity Ratings of Akhtar Textile Industries (Private) Limited

Karachi, June 21, 2021 (PPI-OT): VIS Credit Rating Company Limited (VIS) has upgraded the entity ratings of Akhtar Textile Industries (Private) Limited (ATIL) from ‘A-/A-2’ (Single A Minus/A-Two) to ‘A/A-2’ (Single A/ A-Two). The long-term rating of ‘A’ signifies good credit quality and adequate protection factors. Risk factors may vary with possible changes in the economy. Short term rating of ‘A-2’ Read More…

VIS Credit Rating Company Maintains Entity Ratings of Sapphire Textile Mills Limited

Karachi, June 21, 2021 (PPI-OT): VIS Credit Rating Company Limited (VIS) has maintained entity ratings of Sapphire Textile Mills Limited (STML) at ‘A+/A-1’ (Single A Plus/A-One). The assigned ratings have been placed on ‘Stable’ outlook from ‘Rating Watch-Developing’ status. Long Term Rating of ‘A+’ reflects good credit quality, adequate protection factors. Risk factors may vary with possible changes Read More…

Pfizer and BioNTech to Supply Pakistan with 13 million doses of their Vaccine to Combat COVID-19

Islamabad, June 21, 2021 (PPI-OT): Pfizer Pakistan and BioNTech SE today announced an agreement with the National Disaster Management Authority, Government of Pakistan to supply 13 million doses of their COVID-19 Vaccine (BNT162b2). Deliveries are planned during course of 2021.
“We are deeply honoured to work with the Pakistan government and to marshal our scientific and manufacturing resources toward our shared goRead More…

CarFirst revamps its Dost Program

Lahore, June 21, 2021 (PPI-OT): CarFirst, Pakistan’s most trusted used car trading platform, announced the revamp of their iconic incentive program, the Dost Program. The company initially launched its Dost Program back in November 2019, as an incentive program open to everyone who wishes to monetize helping their friends or family sell their cars to CarFirst. The revamp of this program includes an increased caRead More…

Pakistan spending 40 percent of export earnings to import agriculture products

Sialkot, June 21, 2021 (PPI-OT): Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid Rasheed Butt on Saturday said Pakistan is spending 40 percent of its export earnings on import of agriculture products. The neglected sector of agriculture need serious reforms as it will not grow on the back of claims and promises and the import bill will continue to grow, he said.
Shahid Rasheed Butt saRead More…

Government of Pakistan collaborated with Trade Bodies and Chambers of Commerce and Industry across Pakistan to accelerate vaccination drive among Exporters and their labour: Senior Vice President SCCI

Sialkot, June 21, 2021 (PPI-OT): On June 19, 2021, Mr. Khurram Aslam, Senior Vice President SCCI, in a statement given to press said that the Government of Pakistan had collaborated with Trade Bodies and Chambers of Commerce and Industry across Pakistan to accelerate the vaccination drive among Exporters and their labour.
Mr. Aslam also said that most Businessmen in Pakistan had taken Chinese made vaccine which was aRead More…

Changes in Section 203 (A) proposed

Islamabad, June 21, 2021 (PPI-OT): The Pakistan Economy Watch (PEW) on Saturday supported the decision of the government to introduce changes in the Income Tax Ordinance to boost revenue. The move is good by Section 203 (A) must be amended so that it does not contradict the government’s policy of minimal interaction between taxpayers and the tax authority, it said.
We fully support the decision of the government reRead More…