Trade deficit narrows by 42% in 1st quarter
The trade deficit contracted by 42.25 percent during the first quarter of the current fiscal year compared to the corresponding period of last year, Pakistan Bureau of Statistics reported. The Trade deficit during July-September (2023-24) was recorded at $5.289 billion as against the deficit of $9.159 billion in July–September (2022-23), showing negative growth of 42.25…
Adil Aziz
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…
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…
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…
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…
Digital transactions sustained its growth during the fiscal year 2022-23
Annual Payment Systems Review for the fiscal year 2022-23 is released by the State Bank of Pakistan. The review presents growth and trends in banking transactions accompanied by the usage of payment systems’ infrastructure and instruments in the country. Digital transactions continued its growth trajectory owing to the increased consumers’ preference for digital channels of…
PTCL Group collaborates with ConnectHear to conduct sign language training
Pakistan’s largest telecommunication operator, PTCL Group (PTCL & Ufone 4G) collaborated with ConnectHear, a social enterprise working to empower persons with hearing impairment, to organize a sign language training session for its Customer Service Center (Joint Shops) representatives from the North region. Coinciding with the International Day of Sign Languages, the training aimed to promote…