Gwadar port starts receiving government imports of bulk cargoes
The Gwadar port has started receiving government imports of bulk cargos as three consecutive vessels carrying 90,000 MT urea have already been arrived at the port and clocked the fastest discharge rate. This represents the efforts of Ministry of Maritime Affairs, China Pakistan Economic Corridor (CPEC) Authority, Gwadar Port Authority (GPA), Trading Corporation of Pakistan…
Adil Aziz
SECP issues Guidelines for Offering Islamic Financial Services, 2023
In a landmark development for the growth of Islamic finance in the non-bank financial sector, the Securities and Exchange Commission of Pakistan has issued Guidelines for Offering Islamic Financial Services, 2023, covering all its regulated sectors. The guidelines are framed to facilitate growth of Shariah-compliant financial products in the financial services market regulated by the…
Government not considering access to commercial banks’ forex: Dar
Minister for Finance and Revenue, Ishaq Dar said that the government was not considering an access to foreign exchange reserves held with the commercial banks which he said were the property of the citizens. “I have already said that Pakistan’s reserves are $10 billion. The figures I quoted were based on the principle that national…
Tapping multi-billion tourism potential for economic gains
When the world nations are earning billions of dollars annually from the tourism sector, Pakistan is still struggling to fully tap this resource with a minimal number of tourists visiting the country despite its uncountable bounties. An amalgamation of the scenic beauty of mountain ranges, vast plains, soothing lakes, gushing rivers, enchanting coastline, calm deserts…
Over 18% surplus witnessed in Pakistan-Bangladesh trade: State Bank
Pakistan’s goods and services trade with Bangladesh witnessed a surplus of 18.64 percent during first five months of current fiscal year (2022-23) as compared to the corresponding period of last year. The trade surplus during the months under review was recorded at $329.668 million against $277.863 million during same months of last year, showing 18.64…
Telecom revenues rise to Rs. 694 Billion in 2022: PTA
The telecom sector’s outstanding progress has resulted in a record-high revenue of Rs. 694 billion generated in the Financial Year 2021-2022 said the annual report of PTA. Pakistan Telecommunication Authority (PTA) Annual Report 2022 released here Wednesday, said that the telecom, sector attracted an investment of US$ 2,073 million during the same period and contributed…
4th Financial Crime Summit to be held this Week
The 4th Financial Crime Summit will be held this week on January 14, 2023 in Karachi, with the theme ‘Post-FATF Financial Crime Action Plan – Continuing the National Anti-Financial Crime Agenda’. The Summit is being organized by Dellsons Conferences under the banner of Dellsons Associates, together with its Knowledge Partner, A. F. Ferguson & Co.,…
World Bank projects Pakistan’s growth at 2.0 percent in FY 2022/23, amid warning of global recession
With the World Bank warning that the global economy is “perilously close to falling into recession”, the development lender forecast Pakistan’s growth at 2.0 percent in fiscal year 2022/23 (July-June), in its annual Global Economic Prospects report Tuesday. The bank said the figure for Pakistan growth was “half the pace that was anticipated last June,…
PSX turns around to bullish trend, gains 296 points
The 100-index of the Pakistan Stock Exchange (PSX) turned around to a bullish trend on Tuesday, gaining 296.75 points, a positive change of 0.73 percent, closing at 40,801.51 against 40,504.76 points the previous day. A total of 214,346,791 shares were traded during the day as compared to 163,939,925 shares the previous day, whereas the price…
PSX becomes signatory of women’s empowerment principles
In a positive move forward signifying Pakistan Stock Exchange’s (PSX) efforts to promote increased women participation, gender equality and adopting gender-responsive policies, PSX has become a signatory of Women’s Empowerment Principles (WEPs). According to PSX press release received here, WEPs, the founding partners of which are UN Women and UN Global Compact, are a set…