19.7 Million mobile phones, smart devices manufactured locally in last year
Pakistan’s local mobile industry witnessed remarkable growth as the companies have manufactured around 19.7 million mobile phones and smart devices during the last calendar year, especially after the government introduced a Mobile Manufacturing Policy to encourage local production. “Due to increased local manufacturing, the import of mobile and smartphone devices has decreased from 10.26 million…
Adil Aziz
CDNS achieve Rs 740 Billion through fresh bonds by January 8
The Central Directorate of National Savings (CDNS) achieved the target of issuing Rs 740 billion in fresh bonds in the current fiscal year 2022-23 from July 01 to January 8, 2023. The CDNS has set a reviewed saving target of Rs 1.3 trillion for the current financial year (2022-23) which will “promote the savings culture…
Pakistan secures over $ 10 Billion in pledges at Climate Resilience Conference
Pakistan secured over $ 10 billion pledges from the international financial institutions, donor agencies and development partners for the rehabilitation, recovery and reconstruction of flood affected areas, during an International Conference on Climate Resilience. The major pledges made at the conference, co-chaired by Pakistan and the United Nations in Geneva, Switzerland, included $ 4.2 billion…
Pakistan finance chief reaffirms commitment to IMF bailout programme
Finance Minister Ishaq Dar has reiterated the government s commitment to complete the International Monitory Fund (IMF) programme. He expressed his reaffirmation in a meeting with IMF s Mission Chief to Pakistan Nathan Porter, on the side lines of International Conference on Climate Resilient Pakistan in Geneva. During the meeting, they discussed challenges to regional economies in…
Dar seeks budgetary support to cope with flood challenges
Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar sought budgetary support to enable the government continue providing the much needed relief to over 33 million flood affected people of the country. “Pakistan’s urgent expectation from this conference is not merely a commitment of resources for reconstruction and rehabilitation in short-to-medium term but we…
Ufone 4G’s ‘Regional Play’ brings exclusive Voice and Data offers for 48 districts in Pakistan
Pakistani telecom operator, Ufone 4G has introduced extremely aggressive Packages to bring exclusive Voice and Data bundles in 48 districts across all four provinces. The offer has been designed to provide equitable access to contemporary and leading-edge voice and data services in affordable prices, so that customers across the country can enjoy enhanced utility and…
Gearing up for a virtual tomorrow, TPL Insurance enters the metaverse
With the commitment to redefine insurance in Pakistan through continuous innovation and product enhancement, TPL Insurance has entered the Metaverse focusing on its next generation of customers. To create awareness about its products and develop a personalized experience, TPL Insurance has become the first insurance company in Pakistan to open in the meta space. The…
President directs SLICP to pay interest to an insurance policy holder
President Dr Arif Alvi has directed the State Life Insurance Corporation of Pakistan (SLICP) to compensate an insurance policy holder by paying the interest due in accordance with the prevailing rate as it had delayed payment of the maturity claim to the complainant without giving any reason. he president in his decision observed that the…
SECP apprised digital lenders on new regulatory requirements
The Securities and Exchange Commission of Pakistan (SECP) briefed the non-banking finance companies (NBFCs) on improved regulatory requirements, recently imposed through Circular No 15 to address the complaints of mis-selling, inflated charges and undue access to customers data. Senior management of all the licensed NBFCs, engaged in digital lending participated in the online session. Giving…
Pakistan’s forex reserves fall by $245 Million due to ‘external debt repayment’
Net foreign reserves held by commercial banks came at $5.84 billion, the central bank The State Bank of Pakistan (SBP) announced that its foreign exchange reserves had decreased by $245 million. During the week ending on December 30, 2022, the total foreign exchange reserves of the Pakistani central bank fell to around $5.57 billion, Xinhua news agency…