Country’s exports grew by 18.7 percent in January 2022: Razak
Adviser to Prime Minister on Commerce and Investment , Abdul Razak Dawood on Friday said that country’s exports increased by 18.7 percent to USD$ 2.546 billion in January 2022. The Ministry of Commerce would like to inform that in January 2022, our exports increased by 18.7 percent to USD$ 2.546 billion as compared to USD…
Adil Aziz
Pakistan, China ink framework agreement on industrial cooperation under CPEC
Pakistan and China on Friday inked the Framework Agreement on Industrial Cooperation under China Pakistan Economic Corridor (CPEC). The prime minister arrived in Beijing on Thursday to attend the opening ceremony of Winter Olympics and meet the Chinese leadership. State Minister and Chairman BoI Muhammad Azfar Ahsan and Chairman National Development & Reform Commission (NRDC)…
SBP introduces instant and free person-to-person payments under Raast
State Bank of Pakistan has issued instructions that will enable Person-to-Person (P2P) fund transfers in the country through Raast, Pakistan’s Instant Payment System developed by the State Bank. Raast—an Urdu word which means correct and direct—offers an instant, reliable and zero-cost digital payment system to the people of Pakistan. SBP believes that the launch of…
OICCI Women Empowerment Awards 2021 Recognize Mobilink Microfinance Bank Ltd. for Leading Initiatives in Diversity and Inclusion
Overseas Investors Chamber of Commerce and Industry (OICCI) has honored Mobilink Microfinance Bank Ltd. (MMBL), Pakistan’s largest digital bank, with their prestigious Gender Balance Workforce Award at the 4th edition of the OICCI Women Empowerment Awards 2021. The Awards recognize the efforts made by OICCI members through initiatives, leadership programs, and willingness to incorporate D&I…
IMF program has resumed with the board approving US$1bn tranche
The wait is finally over. IMF program has resumed with the board approving US$1bn tranche, taking cumulative program disbursements to US$3bn (or 50.0% of the total program disbursements). Personal income tax reforms, further harmonization of GST and power sector reforms would continue to form base of the program, going forward. The extent of reforms under…
Economy to grow by 5% this year, 6% next year: Shaukat Tarin
Federal Minister for Finance and Revenue, Shaukat Tarin said here on Thursday that despite commodity price shocks in the international market, the economy of the country would grow by 4.5 percent to 5 percent during the current fiscal year and by 6 percent next year. “I am still hoping that it (growth rate) could be…
ADB proposes measures to maximize CPEC benefits
The Asian Development Bank (ADB) has proposed certain policy actions to fully explore the potential benefits of China Pakistan Economic Corridor (CPEC) and to raise income from exports and enhance fiscal capacity of the government A case study on Economic Corridor Development (ECD) in Pakistan released by the ADB on Wednesday proposed to utilize the…
IMF Executive Board to hold Sixth Review of Pakistan Economy Today
ISLAMABAD: A session of the International Monetary Fund (IMF) Executive Board for review of Pakistan’s economy has been scheduled in Washington on Wednesday The Sixth Review and release of $1 billion tranche under the Extended Fund Facility (EFF), scheduled on January 12, 2022 and later January 28, was postponed twice earlier after receiving request from…
Pakistan-UK strategic partnership deepening in diverse fields: Envoy
Pakistan’s High Commissioner to UK Moazzam Ahmad Khan has stated that as the United Kingdom was Pakistan’s strategic partner, this partnership was deepening through growing linkages in diverse fields. UK, being the 3rd largest export market for Pakistani products, accounted for approximately 8% of Pakistan’s global exports, he added. The High Commissioner was addressing a…
Bank Alfalah delivers solid performance; PAT up by 36% and Equity crosses PKR 100 Billion
Bank Alfalah Limited (BAFL) announced its financial result for the year ended December 31, 2021, where the Bank posted profit after tax of PKR 14.217 bn (EPS PKR 8.00) for the year compared to PKR 10.475 bn (EPS PKR 5.89) reported the last year, an improvement of 35.8% year on year (YoY). Revenue increased by…