Martin Down Group win 2 GDEIB Awards
Martin Dow Group, a Leading Multinational Healthcare Group in Pakistan received Global Diversity, Equity & Inclusion (DEI) Benchmark Awards 2023 in 2 categories. The company received ‘Best Practice’ award in WORK-LIFE INTEGRATION, FLEXIBILITY, & BENEFITS for demonstrating exemplary global practices in DEI whereas the organizations is also recognized as PROGRESSIVE in the category of COMMUNITY,…
Adil Aziz
PSX witnesses bullish trend, gains 395 points
The 100-index of the Pakistan Stock Exchange (PSX) witnessed bullish trend gaining 395.45 points, with a positive change of 0.98 percent, closing at 40,815.90 against 40,420.45 points on the previous day. A total of 242,173,251 shares were traded during the day as compared to 284,512,885 shares the previous day, whereas the price of shares stood at…
Third of world in recession this year, IMF head warns
A third of the global economy will be in recession this year, the head of the International Monetary Fund (IMF) has warned. Kristalina Georgieva said 2023 will be “tougher” than last year as the US, EU and China see their economies slow. It comes as the war in Ukraine, rising prices, higher interest rates and…
An engaging conference on equitable and sustainable growth held at LUMS
The first day of “Pathways to Development: Equitable and Sustainable Growth in Pakistan” saw prominent academics, researchers, social scientists, practitioners, policymakers, politicians, and great minds from the Pakistani diaspora gather at LUMS to discuss issues vital to sustainable development in Pakistan. The conference was organised jointly by the Chaudhry Nazar Muhammad Department of Economics and…
SBP Issues Islamic Banking License to Faysal Bank Limited
State Bank of Pakistan (SBP) has issued an Islamic banking license to Faysal Bank Limited (FBL) making it the second-largest full-fledged Islamic bank in Pakistan. Commenting on the momentous occasion, Mr. Jameel Ahmed, Governor State Bank of Pakistan said, “Conversion of Faysal Bank is first of its kind in the banking history of Pakistan. This…
Floods push economic growth below budgeted target: Economic Outlook
The economic growth for the fiscal year 2022-23 is likely to remain below the budgeted target due to devastation created by floods. “This combination of low growth, high inflation and low levels of official reserves is particularly challenging for policy makers,” says the Monthly Economic Update and Outlook for December 2022. It says, as in…
SECP issues digital lending standards
The Securities and Exchange Commission of Pakistan (SECP), taking notice of rising concerns involving mis-selling, breach of data privacy, and coercive recovery practices of licensed digital lending companies, has issued directive to safeguard public interest and ensure fair treatment of borrowers in digital lending ecosystem. The circular can be accessed from SECP website at https://www.secp.gov.pk/document/circular-no-15-of-2022-requirements-fornbfcs-engaged-in-digital-lending/?wpdmdl=46436&refresh=63abedc5978a21672211909۔…
Zero chance of Pakistan’s default; assures Dar
Federal Finance and Revenue Minister Senator Muhammad Ishaq Dar while rejecting the rumors about Pakistan’s going to default assured that Pakistan has resilience and will survive all challenges. Pakistan has a very beautiful future. However, he stressed on joint and targeted efforts by the public and private sectors to come out of this pressing economic situation….
PM directs pacing up implementation of Kisaan Package
Prime Minister Shehbaz Sharif said development of agriculture sector is the guarantor of food security and directed accelerating the implementation of Kisaan Package to facilitate the farmers. He expressed these views while chairing a review meeting on the historic Kisaan Package introduced by the government for the development of agricultural sector. Prime Minister Shehbaz Sharif…
Meeting reviews electricity demand in Gwadar Free Zone
Minister for Planning Development & Special Initiatives Ahsan Iqbal has asked the China Overseas Ports Holding Company Ltd (COPHCL) to provide the exact demand of the electricity for Gwadar Free Zone and share a ten-year plan for electricity consumption by Gwadar Free Zone Company in order to establish the electricity utilization of 300 MW coal-fired…