HeadlinesGovt borrowing from commercial banks hits record 100% of deposits
Banks have been profiting by borrowing from the SBP at lower rates and lending to the government at higher rates
Sep 25, 2024
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HeadlinesPakistan’s Qist Bazaar raises $3.2mn in Series A funding
Fintech startup attracts investment from Indus Valley Capital, Gobi Partners, and Bank Alfalah, advancing financial inclusion for underbanked Pakistanis
Sep 24, 2024
HeadlinesPower sector circular debt to hit Rs2.8trn despite 51% hike in electricity tariff
Debt already exceeded the IMF threshold and the cap approved by the federal cabinet under Circular Debt Management Plan 2023-24
Sep 24, 2024
HeadlinesSBP extends dollar import facility for exchange companies until June 2025
One-year extension granted to ensure adequate cash USD supply in the open market
Sep 24, 2024
HeadlinesSenate panel grills SBP over Rs65bn LCs overcharging, calls for action on banks
Senators demand accountability for commercial banks profiting from inflated LC charges during 2022 FX crisis
Sep 24, 2024
HeadlinesADB likely to approve third-party guarantee for Reko Diq project by February 2025
Ministry of Finance and Petroleum Division are collaborating with lending institutions to ensure project’s financial close by June 2025
Sep 24, 2024
HeadlinesFBR faces rise in nil-filers as 68% of tax returns declare zero income
Only 1.1 million taxpayers declared income in their returns, posing a significant challenge to addressing tax evasion
Sep 24, 2024
HeadlinesSazgar to launch local assembly of New Energy Vehicles by Dec 2025
Auto manufacturer announces major expansion plans amidst growing demand for electric vehicles
Sep 23, 2024
HeadlinesFive IPPs face govt pressure to cancel deals
Task force uncovers contract violations and fraudulent practices by IPPs, alleging billions in unjustified profits
Sep 23, 2024
HeadlinesNAB recovers Rs168.5 billion in BRT project scam
Bureau also helped the KP government avoid a Rs31.5 billion claim lodged by contractors in the International Court of Arbitration
Sep 23, 2024
World Business NewsSaudi Arabia tops G20 in tourism growth with 73% rise in international arrivals
UN World Tourism Barometer shows the Kingdom welcomed 17.5 million tourists during first seven months of 2024
Sep 23, 2024
HeadlinesPakistan prepares over 70 projects for China’s cooperation in CPEC phase II
Infrastructure, energy, and digital economy top the agenda in expanded China-Pakistan partnership
Sep 23, 2024