Bank branches opens for collection of Taxes/Duties on 28, 29 and 30 June
To facilitate the taxpayers in payment of Government duties / taxes through Alternate Delivery Channels (ADC’s) and Over-the-Counter facilities, it has been decided that all banks shall observe the following banking hours on 28th, 29th & 30th June, 2024.
Adil Aziz
Govt to increase tax to GDP ratio to 13%: Muhammad Aurangzaib
The Finance Minister Muhammad Aurangzaib, said that the country has achieved macroeconomic stability and by continuing economic stability this FY, 2024-25, “We will lead the country towards sustainable economic growth.”
Editor
PTCL advances Telenor Pakistan acquisition by signing financing agreements with IFC-led consortium
Pakistan Telecommunications Company Limited (PTCL) has signed formal loan agreements with an International Finance Corporation (IFC)-led consortium to secure up to $400 million in financing for the acquisition of Telenor Pakistan and Orion Towers (Pvt.) Limited. This is a significant milestone in the acquisition process following the IFC Board of Directors’ approval of the financing deal in April 2024.
Mehfooz
CDA, BOP agree long-term partnership to facilitate financial transactions
The Capital Development Authority (CDA) and the Bank of Punjab have agreed on a long-term partnership to facilitate financial transactions.
Zong, Oladoc collaborate to revolutionize Digital Healthcare solutions
This strategic collaboration aims to bring unparalleled convenience and accessibility to digital healthcare services for Zong 4G users and their families. In this pioneering move, Zong 4G empowers millions of users to address their medical needs effortlessly from the comfort of their homes. Through this innovative partnership, Zong 4G users can now connect with leading healthcare specialists across Pakistan with just a few clicks, transforming how they access healthcare.
SBP aims to double SME financing to Rs.1100 Billion
Deputy Governor State Bank of Pakistan (SBP), Saleemullah has reaffirmed the central bank’s objective to double the financing of Small and Medium Enterprises (SMEs) to Rs.1100 billion over the next five years under the Vision-2028 and urged the banks to embrace SME finance as a core business line to boost MSME growth.
PPAF disburses 274,730 interest-free loans worth Rs 12.20 billion
Pakistan Poverty Alleviation Programme (PPAF) disbursed 274,730 interest-free loans (65% loans to women) amounting to Rs 12.20 billion (including re-flows) to borrowers from July 2023 to March 2024.
CDC announces further tariff reductions to facilitate Capital Market Investors
The Central Depository Company of Pakistan Limited (CDC) has completely eliminated annual maintenance fee for the sub-account holders, as well as announced a full waiver of the CDS connection fee and minimum fees for Securities Brokers.
ABHI Partners with Mastercard to Enhance Financial Accessibility for Employees in Pakistan
In a significant move towards revolutionizing the landscape of financial transactions in Pakistan, Mastercard, a global technology company in the payments industry, has partnered with ABHI, an embedded finance platform, to introduce the Mastercard-enabled Salary Advance Cards for the first time in Pakistan.
BYD to partner with Hub Power to sell EVs in Pakistan
Pakistan is gearing up to enter a new era in automotive technology following the announcement of a partnership between HUB Power Company Limited and BYD (Build Your Dreams), a Chinese auto magnate, which signifies the introduction of electric vehicles (EVs) into the Pakistani market.