
CEO appreciates performance of ‘war room' at Lesco
LESCO Chief Executive Officer (CEO) Engineer Muhammad Ramzan Butt has appreciated the performance of the war room set up at LESCO headquarters during the tense situation. He said that the war room functioned professionally, ensuring uninterrupted electricity supply to the citizens. The LESCO officials and employees have proven their commitment to duty, even in the most challenging circumstances.
He also expressed satisfaction over the ceasefire declaration between Pakistan and India. In a statement, Engineer Ramzan Butt praised the country's armed forces for defending the motherland with honour and dignity. He said that the Pakistani forces have proven that no power in the world can harm Pakistan.
Copyright Business Recorder, 2025
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Recorder
4 minutes ago
- Business Recorder
Pakistan commerce chief arrives in Dhaka to boost bilateral trade
Federal Minister for Commerce, Jam Kamal Khan, arrived in Bangladesh on Wednesday to begin a four-day official visit from August 21 to 24, 2025. The visit is aimed at strengthening bilateral trade ties and enhancing economic cooperation between Pakistan and Bangladesh, read an official statement on Thursday. Upon his arrival in Dhaka, Kamal was received by Bashir Uddin, Adviser for Commerce of Bangladesh, and Imran Haider, High Commissioner of Pakistan. During his stay, the commerce minister will hold high-level meetings with his Bangladeshi counterpart, senior government officials, and leading business representatives to explore new avenues of collaboration in trade and investment. Earlier this month, Jam Kamal and Bangladesh's High Commissioner to Pakistan, Iqbal Hussain Khan, explored deeper bilateral cooperation in trade, energy, logistics, and industrial linkages. The discussions focused on Bangladesh's growing industrial needs, particularly for Pakistani coal and limestone to support its power generation and soda ash production. Key points of discussion included boosting agricultural trade, particularly Pakistan's imports of pineapples from Bangladesh and potential exports of mangos, pending final technical approvals. Moreover, the discussions also covered opportunities in textiles, mineral exports like high-quality limestone from Sindh, and Halal-certified meat products, with both sides committing to addressing logistical challenges and streamlining business visa processes to facilitate smoother trade exchanges.


Express Tribune
4 hours ago
- Express Tribune
PSX reaches new peak above 150,500
Bulls continued to maintain their firm grip over the Pakistan Stock Exchange (PSX) on Wednesday as the KSE-100 index roared past 150.5k points, a historic high that came on the back of Moody's ratings upgrade for banks and encouraging corporate-sector earnings. Robust interest from local institutions in stock buying and a modest current account deficit for July also lent support to the stock market, which rose 820 points, or 0.55%, and closed at 150,591. "Stocks closed at an all-time high after Moody's Ratings upgraded the local and foreign-currency long-term deposit ratings of five leading Pakistani banks to Caa1 from Caa2, following its recent decision to raise the country's sovereign rating," commented Ahsan Mehanti of Arif Habib Corp. "Upbeat data showing $284 million in current account deficit amid strong remittances, rising exports and rupee stability powered the market's record close," he said. Topline Securities, in its report, said bulls showed no signs of fatigue at the local bourse, storming ahead to notch the intra-day record high with gains of 1,490 points before settling at 150,591, up 820 points (+0.55%). The upward momentum was underpinned by better-than-expected corporate earnings and a strong liquidity push from local institutions, lifting the benchmark index to uncharted heights, it said, adding that investor confidence remained buoyant as market heavyweights attracted robust flows, reinforcing the bullish undertone. The rally was largely fuelled by index heavyweights including Systems Limited, Bank AL Habib, NBP, MCB Bank and Bank Alfalah, which contributed 503 points to the upward trajectory, Topline mentioned. KTrade Securities wrote in its market wrap that the index delivered another historic performance, surging 820 points to close at a record high of 150,591, after briefly touching intra-day peak of 151,262. The rally was primarily fuelled by strong performance in the banking and tech sectors. Major contribution to the index came from banks, technology and pharma stocks, it said. KTrade anticipated the bullish sentiment to remain in place with some profit-taking and consolidation at record levels. Arif Habib Limited (AHL) stated that key contributors to the index were Searle (+10%), NBP (+3.53%) and Systems Limited (+3.52%) while Engro Fertilisers (-1.29%), Engro Holdings (-1.10%) and Fauji Fertiliser (-1.05%) were the biggest drags. On the macro front, the current account for July 2025 posted a deficit of $254 million, which marked an improvement from the deficit of $348 million in July 2024, though it switched from a surplus of $335 million in June 2025, it said. In addition to that, Moody's Ratings upgraded the local and foreign-currency long-term deposit ratings of five major Pakistani banks from Caa2 to Caa1 — a development that may improve investor confidence in the financial sector. In the services sector, IT and ITeS exports, including computer services and call centre services, grew 24% year-on-year in July, reaching $354 million, AHL added. Overall trading volumes decreased to 667.8 million shares compared with Tuesday's tally of 809.1 million. Traded value stood at Rs40.7 billion. Shares of 487 companies were traded. Of these, 240 advanced, 216 dropped and 31 remained unchanged. The Bank of Punjab was the volume leader with trading in 52.3 million shares, gaining Rs0.16 to close at Rs14.92. It was followed by WorldCall Telecom with 36.3 million shares, rising Rs0.03 to close at Rs1.48 and Fauji Foods with 33.6 million shares, climbing Rs0.52 to close at Rs16.42. Foreign investors sold shares worth Rs1.92 billion, the National Clearing Company reported.


Business Recorder
5 hours ago
- Business Recorder
CM seeks Japanese tech to improve traffic, urban systems
LAHORE: 'Japanese experiences and technology will be used to improve traffic and urban systems in Punjab,' said Chief Minister Punjab Maryam Nawaz Sharif. During her visit to Tokyo's state-of-the-art traffic control center, she was given a detailed briefing on the working of traffic control room, and the technology used for the purpose. She was apprised by the authorities concerned, 'Tokyo has the honor of being the first city to use 'infrared technology' for traffic control and monitoring.' They said, 'CCTV cameras and roadside sensors are also being used for traffic control and monitoring in Tokyo.' The chief minister was further briefed about data collection, transport planning and the infrastructure in the traffic control room, and was apprised about the provision of ambulances and police action in case of accidents and emergencies. She observed the modern monitoring system to prevent overspeeding and signal violations, and also learnt about the system to inform public about weather changes in Tokyo through the traffic control system. The chief minister said, 'Lahore will be made the first smart city using a modern traffic management system, funds for which have been given in the annual development program. Traffic system of all major cities of Punjab, including Lahore, is being connected to AI.' She highlighted, 'To maintain smooth traffic flow, more than 12,000 kms long roads have been revamped in Punjab. To reduce traffic pressure on roads, efficient mass transit systems are being introduced in Lahore, Gujranwala and Faisalabad. Safe City cameras are being used for traffic monitoring.' Copyright Business Recorder, 2025