SECP approves Pakistan’s first P2P Lending Platform
Continuing with its commitment to facilitate innovation while prioritizing the protection of investors and consumers, the Securities and Exchange Commission of Pakistan (SECP) has approved the first Peer-to-Peer (P2P) Lending Service Provider in the country. The emergence of “Finja Invest” as Pakistan’s inaugural P2P service provider platform signifies a noteworthy achievement towards embracing digital transformation…
Adil Aziz
Mobilink Bank and Vision-Building Future Collaborate to Address Financial Disparities
As part of its ongoing mission to advance financial inclusion across the board, Mobilink Bank has signed a Memorandum of Understanding (MoU) with Vision-Building Future (VBF) to address existing disparities in the financial sphere through a range of targeted initiatives. Under its flagship program, Women Inspirational Network (WIN), Mobilink Bank is geared towards expanding its…
Karandaaz, Vizpro join hands to digitization of retailer to distributor payments
Karandaaz a prominent organization at the forefront of promoting financial inclusion and driving digital transformation in Pakistan has announced its strategic partnership with Vizpro, a leading player in the digital payments ecosystem for facilitating digital payments This collaboration aims to tackle a critical challenge faced by distributors and retailers across the country, which is the…
Special focus given to agri-sector, credit limit enhanced to Rs 2,250 Billion
Federal Minister for Finance and Revenue Senator Muhammad Ishaq Dar said that special focus was given to agriculture sector in Federal Budget 2023-24 and credit limits were enhanced from Rs 1,800 billion to Rs 2,250 billion. Addressing the post budget press conference, he said that State Bank of Pakistan would monitor the credit disbursement for…
3.5% GDP growth target “realistic & easily achievable”, Ishaq Dar
Minister for Finance and Revenue Senator Mohammad Ishaq Dar on Saturday (June 10) expressed confidence that the federal government would easily achieve the 3.5 per cent growth target of Gross Domestic Product (GDP) set for the upcoming fiscal year with effective and transparent utilization of massive development funds it allocated for the Public Sector Development…
Budgetary targets are unrealistic Business Community will look for any hidden taxes: Irfan Iqbal Sheikh
Mr. Irfan Iqbal Sheikh, President FPCCI, has apprised that the federal budget 2023 – 24 presents unrealistic picture of the economy; and, therefore, the budgetary targets set in the budget documents are unrealistic as well. Additionally, the business community will be looking for any hidden taxes in budget. Mr. Irfan Iqbal Sheikh said that target…
Service sector expected to grow by 3.6 pc in FY 2023-24
he services sector is expected to accelerate its growth to 3.6 percent in fiscal year 2023-24, according to the Annual Plan 2023-24. The envisaged growth in the commodity producing sectors will complement the targeted growth in the services sector. “Uptick in the economic activity in agriculture and manufacturing sectors will translate into increased growth in…
Multiple barriers drag growth rate down to 0.29% in FY 2023
The severe macroeconomic imbalances, flood damages, domestic supply shocks, and international economic slowdown dampened the economic growth to just 0.29 percent in FY 2023, said the Pakistan Economic Survey 2022-23. Following the budget announcement in June 2022, positive economic expectations and the performance of key indicators resulted in the government projecting GDP (gross domestic product)…
Govt presents Rs.14.46 trillion relief, growth-oriented budget
The 15-month-old coalition government on Friday (June 09) presented its second business-friendly, relief and development-oriented Federal Budget for the fiscal year 2023-24, with a total outlay of Rs.14.46 trillion, aimed at coping with the inherited economic challenges and laying the foundation for a sustainable, inclusive and resilient economy. The annual fiscal plan, put before the…
Govt contains fiscal deficit at 3.6% in FY 2023: Economic Survey
The efforts made by the incumbent government helped in containing the fiscal deficit to 3.6 percent of Gross Domestic Product (GDP) during the first three quarters of Fiscal Year 2022-23 against 3.9 percent of GDP recorded in the same period of last year. According to Pakistan Economic Survey 2022-23, launched here by Federal Minister for…