1. Defaulter Companies.
The Federal budget was prepared for 2019. Complaints and inquiries were received regarding the companies listed on the Karachi Stock Exchange. The IPO of Pakistan’s stock exchange – PSX (PSX) hosted a ceremony to welcome the U.S. embassy in Pakistan. The Minister of Finance & Revenue presented the budget for 2019-2021. In addition, the minister announced the launch of the National Accountability Bureau (NAB). The minister said that the bureau would focus on corruption cases involving public servants. He added that the government had already taken steps to strengthen accountability.
2. Pakistan Stock Exchange Conducted a Gong Ceremony in Which the Minister of Finance & Revenue Presented the Budget for 2019-2021
The minister of finance & revenue presented the federal budget for the fiscal year 2019-2021 at a press conference held at the Ministry of Finance on Thursday, March 14, 2018. He said that the budget was based on the recommendations of the Economic Coordination Committee (ECC), which he chaired. “We have not deviated from the ECC recommendations,” he said. The minister said that the budget was prepared keeping in mind the country’s economic situation and its international commitments. He mentioned that the budget focused on increasing investment, reducing inflation, and providing employment opportunities to the youth. He said that the government had allocated Rs. 1 trillion for the current fiscal year. The minister said that his ministry was working towards achieving the target set by the IMF. He added that the budget was being prepared keeping in mind the recommendations of the ECC.
3. Launch of NAB
Pakistan’s anti-corruption body, the National Accountability Bureau (Nab), was launched in Islamabad on Thursday, March 14. Nab Director General Justice Javed Iqbal presided over the ceremony. Justice Iqbal said that the bureau would work to eliminate corruption in the country. He added that the bureau would focus mainly on investigating high-profile cases. The director general said that the bureau would be headed by a chief justice of the Supreme Court. The bureau will have two divisions — investigation and prosecution. He added that the office of the bureau would be located in Lahore. The bureau will consist of three units — investigation, prosecution, and management. The bureau will start functioning from April 2.
4. The Federal Government Announced the Launch of the National Accountability Bureau
The Federal government announced the launch of the national accountability bureau (NAB) in Islamabad on Thursday, February 23. The bureau will be headed by a Chief Justice of the Supreme Court. According to the law, the bureau will investigate allegations of corruption against public officials. The bureau will be divided into two sections — Investigation and Prosecution. The bureau will begin operating on April 2.
5. The Federal Government Announces the Launch of the National Accounting Bureau
The Federal government launched the National Accounting Bureau (NAB) in the capital on Wednesday, February 22. The bureau will be led by a Chief Justice of Pakistan. According to the law passed by parliament, the bureau will investigate cases of fraud and corruption among public sector employees. The bureau will be composed of two departments — Investigation and Prosecution, according to the law. The bureau will start operating on April 2.
6. The Federal Government Announcing the Launch of the National Anti Corruption Bureau
On Tuesday, February 21, the Federal government announced the launch date of the National Anti Corruption bureau (NAB). The bureau will be headed and led by a Chief Justice. According to the law approved by the parliament, the bureau will deal with cases of corruption and fraud in the country. The bureau will be split into two departments — Investigation and prosecution. The bureau will begin operations on April 2.
7. The Federal Government Announcing the Launch of the National Accountancy Bureau
The Federal government on Monday, February 20, announced the launch date of National Accounting Bureau (NABU). According to the law approved in parliament, the bureau will be headed by the Chief Justice of Pakistan. The bureau will be responsible for investigating cases of fraud and corruption in the country. The law says that the bureau will be divided into four departments — Investigation, Prosecution, Management and Supervision. The bureau will begin operation on April 2.
.Financial Results
1. Revenue
In 2018, revenue was PKR 2,927 million (USD 16.8 million) compared to 2017's revenue of PKR 1,965 million (USD 11.0 million).
2. Net income
Net income was PKR 816 million (USD 4.6 million) compared to net income of PKR 689 million (USD 3.9 million) in 2017.
3. EBITDA
EBITDA was PKR 1,814 million (USD 10.0 million) compared to PKR 1,097 million (USD 5.8 million) in 2017. EBITDA margin was 32% compared to 31% in 2017.
4. Profit before tax
Profit before tax was PKR 963 million (USD 5.3 million) compared to PKRs 957 million (USD 5.2 million) in 2017. Tax rate was 47% compared to 45% in 2017.
5. Earnings per share
Earnings per share were PKR 0.55 (USD 0.03) compared to PKRs 0.56 (USD 0.03), in 2017. Diluted earnings per share was PKR 0.53 (USD 0.03).
6. Cash flow
Cash flow was PKR 1,077 million (USD 5,9 million) compared to cash flow of PKR 834 million (USD 4.7 million) in 2017. Free cash flow was PKR 946 million (USD 5.4 million) compared to free cash flow of PKR 675 million (USD 3.7 million) in 2016.
7. Debt
Debt was PKR 1,941 million (USD 11.2 million) compared to debt of PKR 1,838 million (USD 10.3 million) in 2017. Interest expense was PKR 811 million (USD 4.5 million) compared to interest expense of PKR 801 million (USD 4.4 million) in 2017. Total debt was PKR 2,858 million (USD 17.0 million) compared total debt of PKR 2,749 million (USD 15.8 million) in 2016. Current ratio was 1.13 compared to 1.19 in 2017.
.jpg)
