Karachi: The Karachi Electric Supply Company has lodged an FIR with Defence Police Station against six activists of labour union on the charge of attempt to murder on the Director and DGM Safety and three other employees on Wednesday evening while they were leaving the utility’s head offices. Five persons were injured and three vehicles damaged in the attack. Law enforcement personnel present on the scene did not take any action to pre-empt the attack; neither did they apprehend the [...]

Lahore: The Pakistan Credit Rating Agency (PACRA) has maintained the capital protection rating of JS Principal Secure Fund-I (JSPSF-I) at ‘AA(cp)’ [Double A (capital protection)]. It is an open-end capital protected fund launched in April 2009 with stipulated life of three years. The fund’s rating denotes very strong certainty of capital protection. The rating reflects the fund’s mandate to place 69.09% of the total initial fund size in the form of a term deposit with Bank Alfalah Limited, for a [...]

Lahore: The Pakistan Credit Rating Agency (PACRA) has maintained the long-term and short-term entity ratings of Packages Limited at ‘AA’ (Double A) and ‘A1+’ (A One Plus) respectively. These ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments. The ratings reflect PL’s leading market position in local paperboard, packaging and tissue industry mainly emanating from its established brand, efficient supply chain and long customer relationships. The company’s business [...]

Lahore: The Pakistan Credit Rating Agency (PACRA) has maintained the long-term entity rating of AlBaraka Bank (Pakistan) Limited (ABPL) at “A” (Single A), while its short-term rating has been upgraded to “A1″ (A One). Moreover, a “Positive” outlook is assigned to the ratings. These ratings denote a low expectation of credit risk emanating from a strong capacity for timely payment of financial commitments. The ratings reflect AlBaraka Bank’s association with a strong Middle Eastern banking group – AlBaraka Banking Group. [...]

Lahore: PACRA has maintained the long-term and the short-term entity ratings of the bank at “AA” (Double A) and “A1+” (A One plus), respectively. Meanwhile, the ratings of the bank’s unsecured, subordinated TFC-III issue of PKR 800mln has been maintained at “AA-” (Double A Minus). These ratings denote the lowest expectation of credit risk emanating from an exceptionally strong capacity for timely payment of financial commitments. The ratings reflect FBL’s ability to withstand tough operating environment and maintain its market [...]

Lahore: The Pakistan Credit Rating Agency (PACRA) has maintained the long-term and short-term entity ratings of First Women Bank Limited (FWBL) at ‘BBB+’ (Triple B Plus) and ‘A2′ (A Two), respectively. These ratings denote a low expectation of credit risk emanating from an adequate capacity for timely payment of financial commitments The ratings reflect the bank’s relatively constrained profile mainly due to limited outreach, weak franchise, and lack of strategic direction at the level of existing shareholders and the board [...]

Lahore: The Pakistan Credit Rating Agency Limited (PACRA) has withdrawn the entity ratings of Mybank Limited (long-term: “A-” and short-term: “A2″). This withdrawal comes subsequent to Mybank’s merger with and into Summit ...