The State Bank of Pakistan (SBP) purchased over $9 billion from the local market in 2024 to stabilize foreign exchange reserves, marking a record intervention. This disclosure was made by Governor Jameel Ahmad during a Senate Standing Committee on Finance meeting, according to The Express Read More...
The private sector borrowed an unprecedented Rs1.9 trillion from banks during the first half of FY25, marking a staggering 265% increase compared to Rs521 billion in the same period last fiscal year, according to data released by the State Bank of Pakistan (SBP).
This sharp rise was Read More...
The Federal Tax Ombudsman’s office achieved a significant milestone in 2024 by resolving 2,442 complaints, more than double the 1,066 complaints addressed in 2023. This remarkable progress reflects the office’s unwavering commitment to resolving taxpayer grievances promptly and Read More...
The Punjab Information Technology Board (PITB), in partnership with the Punjab Excise and Taxation Department, has officially commenced the registration process for the January e-auction of premium vehicle registration numbers.
This initiative provides an opportunity for vehicle owners and Read More...
The Pakistan Stockbrokers Association (PSBA) has raised concerns regarding the potential negative impact of a proposed tax amendment on the stock market and investors. In a letter to Senator Aurangzeb dated January 3, 2025, the PSBA warned that implementing the amendment without proper Read More...
Prime Minister Shehbaz Sharif announced on Tuesday that the United Arab Emirates (UAE) has agreed to roll over a $2 billion loan originally due in January.
During the federal cabinet meeting, the prime minister shared details of his “positive and constructive” meeting with UAE President Read More...
Pakistan Petroleum Limited (PPL) has confirmed that its subsidiary, PPL Asia E&P B.V. (PPLA), has received $6 million from Midland Oil Company (MdOC), an Iraqi state-owned enterprise, as part of a settlement agreement.
The payment, received on January 3, 2025, officially concludes the Read More...
Suhail Jute Mills Limited (PSX: SUHJ) continues to face significant obstacles in securing working capital and settling creditor liabilities, delaying the restart of its commercial operations.
As detailed in the company’s Progress Report, a key element of its revival plan—a 20-acre land Read More...
The passage of the State Bank of Pakistan (SBP) Amendment Bill on January 28, 2022, was far from smooth. Approved by a razor-thin margin of just one vote (43 in favor, 42 against), the bill faced fierce opposition protests accusing it of enabling “financial imperialism.” Aimed at ending direct Read More...
The International Monetary Fund (IMF) has declined Pakistan’s request to revise a critical structural benchmark under its $7 billion Extended Fund Facility (EFF), according to Dawn. The IMF has insisted on imposing a significant levy on gas supplied to industrial captive power plants (CPPs), Read More...
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