Shoaib Mumtaz has assumed the charge of Acting President and CEO of MCB Bank Ltd with effect from 21 December (today). Mumtaz replaces outgoing President and CEO, Imran Maqbool, whose term of employment ended on Monday.Mumtaz, a graduate from the Unite…
Railway Constructions Pakistan Limited (RAILCOP) has signed a memorandum of understanding (MoU) with M/s Al Furqan Holdings Private Ltd and BIL Pakistan (Pvt.) Ltd for the construction of a new 105-kilometer rail track in Thar Coal.The project, linking…
Gulf Islamic Investments LLC, a UAE-based Company, has also shown its interest in acquiring shares of Samba Bank being one of the partners of Fatima Fertilizer Limited in the potential deal.According to the stock filing, Fatima Fertilizer Group, which …
Although it is a redundant movement, the Pakistani Rupee (PKR) slid to a new all-time low against the US Dollar (USD) and depreciated by one paisa against the greenback in the interbank market today. It hit an intra-day low of Rs. 178.22 against the US…
Overjet, a Pakistani Led startup, has raised $42.5 million in a Series B funding round led by General Catalyst and New York-based venture capital firm, Insight Partners. Other investors in the round included Crosslink Capital and the MIT-affiliated E14…
Jiye Technologies, a Pakistan-based agri-supply chain platform, has raised $2.5 million in a pre-seed funding round led by numerous investors and venture firms.According to the startup’s official press release, the round saw participation from Rabeel W…
State Bank of Pakistan (SBP) Governor Reza Baqir on Tuesday said that SBP Aasan Finance Scheme (SAAF) will be a game-changer in enhancing access to finance for small and medium enterprises (SMEs) as it addresses the long outstanding challenge of lack o…
The Automotive Development Policy (ADP) 2016-21 has expired, giving way to the new developments and incentives under the Automotive Industry Development and Export Policy (AIDEP) 2021-26.Earlier this year, the government announced a series of tax exemp…
The Asian Development Bank will help develop a system to bridge Pakistan’s gas shortage and finance its needs, ProPakistani has learned on good authority.The ADB has recently approved and started working on the gas systems of Pakistan with a special fo…
Pakistan and Asian Development Bank (ADB) will sign six financing loan agreements worth $1.535 billion on Wednesday, according to official sources privy to the development. Minister for Economic Affairs, Omar Ayub Khan, will witness the loan signing ce…
