Pakistan inflation surges again in September as fuel prices rise
PAKISTAN’S inflation in September rose for the first time in four months after the government raised fuel prices to meet International Monetary Fund’s conditions for an ongoing US$3 billion bailout programme. Consumer prices jumped 31.44 per cent in September from a year earlier, according to data from the Pakistan Bureau of Statistics. The reading exceeds…
Adil Aziz
Nobel prize goes to mRNA Covid vaccine researchers
KATALIN Kariko and Drew Weissman won the Nobel medicine prize on Monday (Oct 2) for their work on messenger RNA (mRNA) technology that paved the way for groundbreaking Covid-19 vaccines. The pair, who had been tipped as favourites, “contributed to the unprecedented rate of vaccine development during one of the greatest threats to human health…
National Savings attains Rs 400 billion targets in fresh bond
The Central Directorate of National Savings has accomplished a target of Rs 400 billion in fresh bonds in the current fiscal year, from July 1 to 30th September. The CDNS surpassed the annual target and achieved the target of Rs 1.6 trillion in fresh bonds in the current fiscal year, the senior official of CDNS…
FBR extends for filing of income tax returns by October 31st
The Federal Board of Revenue has decided to extend the date of filing of income tax returns by October 31st, 2023, for tax year 2023. This decision for the person who is required to file their returns by September 30, 2023, is extended to October 31, 2023, in view of the request from various trade…
Govt slashes petrol prices by Rs.8 per liter
The caretaker federal government reduced prices of petrol by Rs.8 per liter, according to press statement issued by finance ministry. “In the wake of variations in international prices of petroleum products and the improvement in the exchange rate, the government of Pakistan has decided to revise the consumer prices of petroleum products,” the statement. Accordingly,…
Dr Shamshad consultation with financial markets to bring investment
Dr. Shamshad Akhtar, the honorable Caretaker Federal Minister forFinance, Revenue, Economic Affairs chaired a meeting with the Chairman of the Securities Exchange Commission of Pakistan, bankers and heads of development finance stated that capital market reforms are critical component of the CareTaker Government’s economic revival program. The initiatives are aimed to promote growth and development…
ADB Capital Management Reforms unlock $100 Billion in new funding
The Asian Development Bank approved capital management reforms that unlock $100 billion in new funding capacity over the next decade to address the region’s overlapping, simultaneous crises. The expansion of available funds will be further leveraged through mobilizing private and domestic capital to move from the billions to trillions required to tackle the climate crisis….
Mobilink Bank and UN Women Join Forces to Champion Women’s Financial Inclusion
Mobilink Bank and the United Nations Entity for Gender Equality and the Empowerment of Women, Pakistan (UN Women Pakistan) signed a Memorandum of Understanding (MoU) to ignite a transformative wave across Pakistan’s socio-economic landscape, with a steadfast commitment to advancing gender empowerment and revolutionizing the financial ecosystem. Through this partnership, Mobilink Bank endeavours to address…
Yusuf H. Shirazi Complex at LUMS to herald a new era of research & learning
LUMS hosted the ground breaking ceremony of its first green building, ‘Yusuf H. Shirazi Complex’, named after the former Chairman of Atlas Group and one of the founding members of LUMS. The Complex will be a hub of research, innovation and intellectual exchange at the University and house high-impact centres collaborating with industry and government…
FPCCI efforts have resulted in direct flights & Banking channel with Kazakhstan
Mr. Irfan Iqbal Sheikh, President FPCCI, has informed that FPCCI’s sustained efforts; from the platform of its high-profile Pakistan – Kazakhstan Business Council; have been fruitful on various counts: (i) direct flights have started between Pakistan & Kazakhstan (ii) commercial banking channel has been established between the two countries (iii) land-based cargo services have commenced…