Finance Minister holds virtual meeting with President AIIB
Minister for Finance and Revenue Senator Mohammad Ishaq Dar held a virtual meeting with Jin Liqun, President Asian Infrastructure and Investment Bank (AIIB). The meeting was part of the International Monetary Fund (IMF), World Bank Spring meetings 2023, a press release issued by the Ministry of Finance said. Minister of State for Finance and Revenue…
Adil Aziz
MMBL raises the Minimum Salary Benchmark to Build Employee Financial Resilience
Mobilink Microfinance Bank Ltd. (MMBL) has recently announced its latest organizational initiative aimed at bolstering the financial resilience of its employees. In response to the ongoing tumultuous economic landscape, the Bank has proactively introduced a new Minimum Salary structure of PKR 50,000 to provide its employees with enhanced financial security and aid them in meeting…
UAE confirms bilateral support of $1 billion: Dar
Minister for Finance and Revenue Senator Mohammad Ishaq Dar said that UAE authorities have confirmed to International Monetary Fund (IMF) for their bilateral support of US$ one billion to Pakistan. In a tweet on his official Twitter handle, he said, “UAE authorities have confirmed to IMF for their bilateral support of US $ One billion…
ECC okays E-Bikes & Rickshaws loan facility under PMYB&ALS model
The Economic Coordination Committee (ECC) of the Cabinet approved Prime Minister’s Youth Business and Agriculture Loan Scheme (PMYB&ALS) model for E-Bikes and Rickshaws, under which the facility of Rs 0.5 million would be provided with zero per cent markup for a period of three years. “Under the scheme, clean loan up to Rs 0.5 million…
CDC engages industry stakeholders on new e-Voting-related amendments in Companies (Postal Ballot) Regulations, 2018 by SECP
The Securities and Exchange Commission of Pakistan (SECP) has recently made amendments to the Companies (Postal Ballot) Regulations, 2018 whereby the right to vote through an electronic voting facility must be provided to members of every listed company for all businesses classified as a special business under the Companies Act 2017. These amendments have especially…
Pakistan’s debt burden driving widespread economic crisis: UN report
Pakistan is in the eye of the polycrisis, with its external debt almost doubling between 2015 and 2020 to become the main driver of more widespread economic problems in 2022, according to a new UN report, which also warns that developing countries face years of difficulty as the global economy slows down amid heightened financial…
MMBL and MateSol unite to improve MSMEs Cash flow through state-of-the-art Invoice Financing
Pakistan’s leading microfinance institution, Mobilink Microfinance Bank Ltd. (MMBL) and MateSol, a blockchain-based invoice verification platform with a global footprint, have signed a Memorandum of Understanding (MoU) to offer better access to invoice financing for Micro Small and Medium-sized Enterprises (SMEs). As per the partnership agreement, MMBL will utilize MateSol’s innovative blockchain-based invoice management system…
Cars’ sale decreases 50.30% in 9 months
The sale of cars during the first nine months of the current fiscal year 2022-23, has dropped by 50.30 per cent as compared to the same months of last year, the latest data released by the Pakistan Automobile Manufacturing Association (PAMA). As many as 85,776 cars were sold during July-March 2022-23 as opposed to 172,612…
SECP publishes Digital Lending Applications Whitelist
Pursuant to Google’s updated policy for digital lending apps from Pakistan, the Securities and Exchange Commission of Pakistan (SECP) has published Whitelist of Digital Lending Applications on its website. The Whitelist will serve as reference point for Google to validate regulator’s approved apps before listing them on Play Store with effect from May 31, 2023….
Andrew Dagleish commends measures of economic stability
Acting British High Commissioner to Pakistan Andrew Dagleish Wednesday commended the measures being undertaken by the incumbent government for economic stability and offered all possible help from the ‘British Government’ for the people of Pakistan in mitigating the Socio-economic crisis. The Acting British High Commissioner called on Minister for Finance and Revenue Senator Mohammad Ishaq…