The World Bank (WB) approves both the extension and restructuring of the "Pakistan Raises Revenue" project. This decision by the World Bank is a significant development aimed at supporting and enhancing Pakistan's efforts in revenue mobilization and fiscal management.
The approval for the extension and restructuring comes as part of...
The remittance inflow into Pakistan has witnessed a notable surge, marking a substantial 26% increase, as it reached an impressive $2.4 billion during the first month of 2024. This surge in remittances highlights the resilience and strength of the remittance sector, playing a pivotal role in the country's economic...
In the aftermath of the recent election results, Pakistan's dollar bonds have encountered a substantial downturn, marking a period of financial volatility for the country. The impact of the political developments on the international financial market has triggered a notable decline in the value of Pakistan's dollar-denominated bonds, reflecting...
In a groundbreaking move towards enhancing regulatory processes, the Securities and Exchange Commission of Pakistan (SECP) has introduced a state-of-the-art online filing system known as EZFile. This innovative platform marks a significant leap in digitizing and streamlining filing procedures, aiming to provide stakeholders with a more efficient and user-friendly...
Highlighting the urgency of the situation, a former State Bank of Pakistan (SBP) Governor asserts that Pakistan must embark on a new International Monetary Fund (IMF) program to effectively manage and address the challenges associated with servicing previous debts. The call for a fresh IMF program underscores the pressing...
The Bank of Punjab (BOP) demonstrates its steadfast commitment to promoting arts, literature, and crafts in the country as a strong corporate advocate. With a long-standing dedication to various initiatives and programs, including literary festivals, the bank actively contributes to the promotion of literacy, arts, culture, and heritage preservation.
In...
In a noteworthy development, the government has begin talks with the International Monetary Fund (IMF) to address and resolve the persisting issue of circular debt. This marks a proactive step towards finding comprehensive solutions to the challenges posed by the mounting circular debt, reflecting the government's commitment to fiscal...
In a notable development, the government has submitted a formal request seeking a one-year extension for the World Bank-funded project dedicated to the Federal Board of Revenue (FBR). This request signals a strategic move to address potential challenges or delays in the implementation of the project and underscores the...
In a recent development related to the restructuring of the Federal Board of Revenue (FBR), the Finance Minister addressed concerns raised in a letter from the Election Commission of Pakistan (ECP) during a late-night speech. The Finance Minister's response sheds light on the government's stance and strategies regarding the...
In a recent development, the State Bank of Pakistan (SBP) initiates the process for issuing new currency notes. This strategic move is part of the central bank's ongoing efforts to enhance the security features, durability, and overall quality of the country's currency, ensuring a robust and reliable monetary system.
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