In a recent development, the State Bank of Pakistan (SBP) has decided to maintains the interest rate for banks at the existing level of 22%. This decision comes after a thorough assessment of the prevailing economic conditions, inflationary pressures, and other relevant factors influencing the country's monetary landscape.
The central...
Present at the event were Omer Ahmed Khan, CEO; Jalil Ahmed Farooqui, Group Head of Sales and Business Development; Danish Farooque, Group Head of Professional Services and Adnan Farooq, Regional Manager Asia Pacific from Avanza Solutions; and Imran Samad President & CEO, Muhammad Anwaar, Deputy CEO, Ata Hussain, Head...
In a significant move, the State Bank of Pakistan (SBP) has decided to introduce the designs of all currency notes currently circulating. This decision comes as part of the SBP's ongoing efforts to enhance the security features of currency notes, promote visual aesthetics, and incorporate advanced printing technologies to...
In a notable economic development, profit repatriation has witnessed a remarkable upswing, experiencing a substantial surge of 245% during the initial half of the fiscal year 2024. This surge indicates a significant shift in the financial landscape, reflecting increased profits being repatriated by businesses and investors.
Key Highlights:
Staggering 245% Increase:...
Jubilee Life Insurance, Pakistan’s largest private sector insurance company, signed a memorandum of understanding (MoU) with NOWPDP (Network of Organizations Working for People with Disabilities), Pakistan. This strategic alliance marks a significant step in Jubilee Life’s ongoing commitment to diversity, equity, and inclusivity (DEI) within its workforce.
As an equal...
In a collaborative effort to strengthen the fight against tax evasion, the Federal Board of Revenue (FBR) and the Financial Monitoring Unit (FMU) have joined forces. This strategic partnership aims to enhance financial oversight and address illicit financial activities that may contribute to tax evasion.
The collaboration between the FBR...
In a significant development, the Lahore High Court (LHC) orders directives to the Federal Board of Revenue (FBR) to amend the Sales Tax Act. The court's ruling emphasizes the need for amendments aimed at safeguarding the rights of taxpayers within the framework of sales tax regulations.
The LHC's decision comes...
As the upcoming Monetary Policy Committee (MPC) meeting draws near, financial experts express their expectations of a maintained stability in the policy rate. The consensus among analysts suggests that the State Bank of Pakistan (SBP) is likely to keep the policy rate unchanged in its ongoing efforts to balance...
In a noteworthy development for Pakistan's economic landscape, the State Bank of Pakistan (SBP) witnesses a substantial increase in reserves, amounting to $243 million. This surge in reserves is attributed to the recent disbursement of a tranche from the International Monetary Fund (IMF), marking a positive stride in the...
Govt raises Rs 185 Billion, in a significant financial maneuver, through the issuance of Treasury Bills (T-Bills), marking a substantial infusion of funds into the national exchequer. This strategic move aligns with the government's ongoing efforts to manage fiscal liquidity and meet financial obligations effectively.
The T-Bill auction, which served...
