The Ministry of Finance highlighted that efforts to stabilize the economy, such as maintaining a primary surplus, ensuring a steady exchange rate, and the State Bank of Pakistan's notable interest rate cuts in response to falling inflation, are expected to lower public debt over the next few Read More...
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In a disturbing development from South Waziristan, the President of the Waziristan Chamber of Commerce and Industry (WCCI), along with two Customs officers, were abducted on Thursday, sparking deep concerns among local businesses.
Saifur Rehman, President of WCCI, along with Customs Read More...
The State Bank of Pakistan (SBP) has granted approval for Zia Ijaz to officially take the reins as President and CEO of Askari Bank Limited, according to a filing made to the Pakistan Stock Exchange (PSX) on Friday. This approval follows a successful Fit and Proper Test (FPT) clearance, Read More...
Pakistan is gearing up to host two key IMF policy missions aimed at securing over $1 billion in additional funding for climate resilience, along with reviewing the progress of the ongoing $7 billion Extended Fund Facility (EFF). This comes at a time when a technical mission is already in Read More...
The Federal Board of Revenue (FBR) has introduced a new requirement for licensees of the Special Technology Zones Authority (STZA), mandating that they now operate through the Pakistan Single Window (PSW) system for the clearance of imported goods under the concessionary regime. This decision Read More...
In a move to provide financial relief to power consumers, the National Electric Power Regulatory Authority (NEPRA) has announced a reduction in electricity tariffs for both ex-WAPDA distribution companies (DISCOs) and K-Electric (KE) consumers.
The new tariffs, which reflect the fuel cost Read More...
Pakistan’s salaried class has stepped up its income tax contributions, with a remarkable surge to Rs285 billion in the first seven months of the current fiscal year—an increase of Rs100 billion compared to the same period last year.
The breakdown shows non-corporate sector employees paid Read More...
In a groundbreaking move to increase transparency, Pakistan’s federal cabinet has given the green light to a crucial amendment to the Civil Servants Act of 1973. This new legislation mandates that senior government officials, ranging from BPS 17 to 22, disclose not only their own assets but also Read More...
The government’s bold move to impose a hefty tax of up to 15% on banks with an advance-to-deposit ratio (ADR) under 50% by December 31, 2024, has sparked a dramatic reversal in private-sector borrowing trends. What initially fueled a sharp surge in borrowing, driven by the fear of the tax, is Read More...
Pakistan is bracing for a high-stakes showdown with the International Monetary Fund (IMF) as the country prepares to welcome not one, but TWO critical policy-level missions aimed at securing over a staggering $1 billion in additional financing for climate resilience. This comes amidst ongoing Read More...
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