Business

F. Ali
thehighasia

Resource capture in Gilgit-Baltistan

Resource capture in Gilgit-Baltistan is a stark reminder of the region’s continued exploitation and marginalisation. The control of the Sost Dry Port, the leasing of mineral resources to non-local investors, and the disregard for environmental and indigenous laws all point to a systemic pattern of exclusion and exploitation. If this trend continues, Gilgit-Baltistan risks becoming a textbook example of how powerful actors can hijack development initiatives to serve their interests at the expense of local communities and the environment.

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B2B Collaboration
thehighasia

Call for increased partnership between Pak-Saudi businesses

Saudi Arabia has been a major investor in Pakistan investing in various sectors such as energy, infrastructure, and agriculture. Saudi Arabia pledged $3 billion in aid and loans to Pakistan, with $1.5 billion deposited in Pakistan’s central bank.

Saudi Arabia has shown keen interest in investing in various sectors notably nearly 1 billion dollars in the Reko Diq Mining Project. The construction of one of the largest oil refineries in Pakistan is underway, aimed at boosting local energy production and reducing dependency on imported oil.

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thehighasia

Faysal Bank posts strong financial results for Q1

Faysal Bank profit after tax doubled to Rs6.5 billion as compared to the corresponding period in 2023. Earnings per share increased from Rs2.12 to Rs4.29.

The total assets reached a new high of Rs1.5 trillion, with deposits increasing to Rs1.050 trillion and loan book exceeded Rs603 billion. Advance-to-Deposit Ratio (ADR) was at a healthy 55%, while its Capital Adequacy Ratio stood at 18.57%, well above the regulatory requirement.
 
The sound financial performance and the strong balance-sheet footing is reflective of the bank’s solid business fundamentals coupled with prudent risk management practices. 

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Collaborative growth
thehighasia

Collaborative growth: business leaders converge on capital

The 7th edition of the Leaders in Islamabad Business Summit (LIIBS), set to take place on April 23 and 24 at a local hotel, promises to be a significant event on Pakistan’s corporate calendar. The two-day event will serve as a convergence point for over 15 global experts and more than 1000 delegates representing diverse industries from both the public and private sectors. With such a diverse gathering, the primary focus will be on fostering dialogue and exploring avenues for potential partnerships at various levels

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