BF Biosciences Partners with Lucky Core Industries.

on 04/09/2024

BF Biosciences Limited (BFBL), a leading Pakistani pharmaceutical company, has signed a contract manufacturing and supply agreement with Lucky Core Industries Limited (LCI).

The announcement was made by Ferozsons Laboratories Limited, BFBL’s parent company, in a notice to the Pakistan Stock Exchange (PSX) on Wednesday.

According to the notice, BFBL will manufacture and supply the products ‘Esopase IV 40 mg’ and ‘Etipro IV 40 mg’ under the agreement with LCI.

BFBL, a joint venture between Ferozsons Laboratories and Argentina’s Bagó Group, focuses on importing, manufacturing, marketing, and distributing pharmaceutical products. Recently, the company successfully launched a human insulin product under the brand name ‘Ferulin.’

Looking ahead, BFBL is planning an initial public offering (IPO) on the PSX to raise a minimum of Rs1.375 billion ($4.94 million) by issuing 25 million shares at a floor price of Rs55 per share.

Additionally, BFBL manufactures hepatitis-related medicines, including interferon injections. In 2020, it signed a non-exclusive license agreement with Gilead Sciences, Inc. to produce and sell the antiviral drug Remdesivir for COVID-19 treatment under Gilead’s Global Patient Solutions (GPS) Program. BFBL’s production of Remdesivir during the pandemic generated approximately Rs2 billion in revenue between FY2021 and FY2022.

APTMA Requests 400 Basis Points Interest Rate Cut from SBP’s MPC.

on 03/09/2024

The All Pakistan Textile Mills Association (APTMA) has formally requested the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) to reduce the interest rate by 400 basis points. APTMA argues that such a significant rate cut is essential for invigorating the textile sector, which is currently grappling with economic pressures and competitive challenges.

The association believes that a lower interest rate would provide much-needed relief to textile manufacturers, enabling them to lower their borrowing costs and invest more effectively in their operations. This move is seen as a critical step towards enhancing the industry’s growth prospects and improving its overall financial health.

The request highlights ongoing concerns within the textile sector about high interest rates and their impact on business sustainability. APTMA’s appeal to the MPC underscores the broader need for supportive monetary policies to bolster key industries in the country.

Industry Appeals for Implementation of GST Relief Policy for Scrap Steel Sector.

on 03/09/2024

The scrap steel industry has made a formal appeal to the Federal Board of Revenue (FBR) to implement a long-awaited policy decision concerning Goods and Services Tax (GST) relief. Industry stakeholders are urging the FBR to put this policy into action to provide much-needed financial relief to the sector.

The GST relief policy, which has been discussed for some time, aims to ease the financial pressures on the scrap steel industry by adjusting tax burdens. This policy is particularly significant given the sector’s current challenges, which include rising operational costs and market fluctuations. By enforcing this policy, the FBR would offer substantial support to businesses engaged in scrap steel processing and recycling, potentially improving their economic stability and operational efficiency.

The call for the implementation of this policy highlights a crucial moment for the scrap steel industry, reflecting its need for favorable regulatory conditions to ensure continued growth and competitiveness. The industry’s appeal underscores the broader conversation between private sector entities and government bodies about fiscal policies and their impacts on various sectors.

As the FBR considers this request, industry representatives and observers are closely watching the developments. The successful implementation of the GST relief policy could mark a significant step forward in supporting the sector and addressing the financial challenges it faces.

Imran Maniar Resigns as CEO and Managing Director of Sui Southern Gas Company

on 03/09/2024

Imran Maniar has officially stepped down from his role as Chief Executive Officer (CEO) and Managing Director (MD) of Sui Southern Gas Company (SSGC). This decision brings to a close his period of leadership at the company. While the precise reasons for his resignation have not been disclosed, it represents a significant shift in the management structure of SSGC.

During his tenure, Maniar oversaw various initiatives and challenges facing the company, which is a key player in Pakistan’s energy sector. His resignation prompts SSGC to initiate a search for a new CEO and MD to steer the company forward.

As of now, the company has not provided any further details about the transition process or potential candidates for the position. Stakeholders and industry observers will be keenly watching how SSGC handles this leadership change and what it means for the company’s future direction.

Lifelong Dedication to Engineering Excellence Why should Dr. Aneel Kumar be the first choice?

on 20/08/2024

Engr. Prof. Dr. Aneel Kumar is a distinguished figure in the Pakistani engineering landscape, having made significant contributions to both academia and industry. Currently serving as the Pro-Vice Chancellor of Mehran University of Engineering and Technology Jamshoro, his career is a testament to his unwavering commitment to education, research, and professional development. His involvement in the Pakistan Engineering Council (PEC) has been instrumental in shaping the future of engineering in Pakistan.
Engr. Prof. Dr. Aneel Kumar’s academic contributions are equally impressive. As a prolific researcher, he has made significant strides in the fields of sub-soil investigations, foundation design, soil stabilization, and sustainable construction materials. His over 100 research journal publications and presentations at international conferences have garnered widespread recognition and acclaim. His expertise in geotechnical engineering is evidenced by his involvement in numerous high-profile projects.
In addition to his research, Engr. Dr. Aneel Kumar has been an exemplary mentor and educator. He has guided countless Masters and Ph.D. students, shaping the next generation of engineers. His dedication to teaching and research has earned him the respect and admiration of colleagues, students, and the broader academic community.
Engr. Dr. Aneel Kumar’s impact extends beyond the realm of academia. As a dedicated member of the Pakistan Engineering Council (PEC), he has been instrumental in advancing the engineering profession nationwide. His contributions are evident in his roles on the PEC Governing Body, Engineering Professional Development Committee, Engineering Accreditation Board, Academia-Industry Linkage Committee, and Engineering Curriculum and Review Development Committee. Through these platforms, Prof. Kumar has been at the forefront of several transformative initiatives.
Engr. Dr. Aneel Kumar ‘s exceptional contributions to the engineering field have culminated in the prestigious National Engineering Excellence Award, 2024. His unwavering dedication to professional growth, coupled with his proven leadership and expertise, make him an invaluable asset to the Pakistan Engineering Council and the wider engineering community.n