There’s no major representation of Pakistani entrepreneurs even in countries where the environment is much more favourable. AFP/File
For the longest time, the country’s private sector has often used the government’s inefficiencies as an excuse for its own mediocrity. Be it the hue and cry over taxes or the demands of trade protection, Pakistan Inc. has developed a particularly rent-seeking behaviour.
In some respects, the startups are not too different. After all, they also take birth in the same corporate culture. Though they may not yet have proper lobbies to make their case with the government and get some goodies, these young organisations often blame their own lack of success on a lack of governmental support. So naturally one wonders if regulations and the business environment were more conducive, would our entrepreneurs have done things drastically different?
Shell Pakistan Ltd on Tuesday reported a loss after tax of Rs4.82 billion and loss per share at Rs45.05 compared to loss of Rs1.49bn and loss per share at Rs13.88 incurred in 2019. File photo
KARACHI: Shell Pakistan Ltd on Tuesday reported a loss after tax of Rs4.82 billion and loss per share at Rs45.05 compared to loss of Rs1.49bn and loss per share at Rs13.88 incurred in 2019.
The company stated in a press statement that the second half of the year saw significant recovery with a profit after tax in comparison to a very tough first half of the year primarily affected by the global pandemic resulting in declining fuels market and volatility in the international oil prices.
Pakistan Stock Exchange to introduce E-IPO system
Project will digitally transform IPO process at bours
Pakistan Stock Exchange. PHOTO: REUTERS
KARACHI:
The deployment of a new E-IPO system at the Pakistan Stock Exchange (PSX) will open new vistas and expand horizons for the investors desiring to invest in new share listings through the convenience of a few clicks, said PSX MD and CEO Farrukh Khan.
According to a statement issued on Tuesday, the PSX and the National Institutional Facilitation Technologies (NIFT) signed an agreement to collaborate in the development of a new payment and registration system for the bourse.
Speaking at the signing ceremony, Khan said that the system would steer digitalisation for investors at the front end and would also enhance the outreach for the PSX, issuers and investors in terms of the initial public offering (IPO) process as a whole.
PSX and NIFT to Collaborate For Developing E-IPO Project propakistani.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from propakistani.pk Daily Mail and Mail on Sunday newspapers.
Business
February 12, 2021
ISLAMABAD: The government is all set to launch a new system to process payments within and from Pakistan through integration with any international payment provider, officials said on Thursday.
The officials of the National Institutional Facilitation Technologies (NIFT) said the payment system will be facilitated by the involvement of third party. The payment facility was to become functional by the end of 2020. However, the multi-party engagement with the effect of COVID has affected the plan.
“However, we are working on it and will update as soon as they are ready to take it to SBP. Assistance from SBP will come in once they put in the complete details for their review. The pilot run is now expected in second quarter of 2021,” the NIFT official told the 4th meeting of National e-Commerce Council (NeCC).