PSX submits budget proposals to ensure capital market growth, economic development
Implementation of the proposals will help to document the economy and increase tax revenues, while also helping to meet important social objectives: PSX The Pakistan Stock Exchange (PSX) has presented important proposals for the federal budget 2022-23 to address economic challenges, boost national economy and grow the capital markets. These proposals have been submitted to…
Adil Aziz
No fresh borrowings from SBP, clarifies finance ministry
The Ministry of Finance here on Thursday clarified that there had been no fresh borrowings by the government from the State Bank of Pakistan (SBP). “In fact the government has been retiring its previous stock of debt with the SBP on its maturity,” the ministry said in a statement while responding to news circulating on…
JS Bank partnered with NdcTech to modernize its Core Banking and drive Business Agility
JS Bank, a leading Commercial Bank of Pakistan has modernized its Core Banking platform with renowned IT company NdcTech as the implementation partner. This deployment is a central part of the Bank’s strategy to rebuild its technology and support its future growth objectives. Enhancing the customer experience has always been a top priority for JS…
NITL Funds are now available on Hysab Kytab
Pakistan’s First Asset Management Company NITL has signed up with Hysab Kytab to provide end users/customers access to its family of funds within the consumer application. This collaboration will empower customers to make informed decisions leading to a financially secure future. With the help of National Investment Trust Limited (NITL), Hysab Kytab users will now…
Sonari Bank Limited (SNBL) join hands with S&P global Market Intellegence for trade compliance solution
Soneri Bank Limited (SNBL) has signed an agreement with internationally renowned company M/s S&P Global Market Intelligence (formerly IHS Markit) for implementation of IHS Trade Product Solution for ‘Price Verification of Commodities’ and ‘Identification of Dual Usage of Goods’. The signing ceremony was held on 20-April-2022 at SNBL Head Office, Karachi. SNBL President & CEO…
US launches $23.5 million four-year power sector improvement project in Pakistan
USAID Mission Director Julie A. Koenen has said that the United States launched $23.5 million four-year power sector improvement project in Pakistan. The project aimed at increasing the share of green energy in Pakistan’s energy mix, said a statement issued here Friday. “Washington looks forward to advancing its partnership with Pakistan to build a clean,…
President lauds FTO role to facilitate traders’ calls for its enhanced outreach
President Dr Arif Alvi Thursday while lauding the Federal Tax Ombudsman (FTO)’s role for providing speedy relief to traders and businessmen, called for its enhanced outreach to the people. The president also underscored the need for creating awareness about its role in providing speedy justice to complainants against the maladministration of customs and tax authorities….
HBL Q1 2022 Profit rises to Rs. 14.6 billion driven by strong business volumes
HBL today declared a consolidated profit before tax of Rs. 14.6 billion for the first quarter of 2022 and a profit after tax of Rs. 8.6 billion, both higher than in the same period last year. The Q1’22 results include a one-time severance charge of Rs. 2.6 billion. Excluding the impact of this one-time charge,…
MMBL partners with BaKhabar Kissan to foster a smart digital ecosystem for its growing Agri-customers across Pakistan
Pakistan’s largest digital bank, Mobilink Microfinance Bank Ltd (MMBL) has partnered with BaKhabar Kissan (BKK), a leading agri-tech enterprise that provides advisory services to small and medium farmers across the country. Through this strategic alliance, smart digital financial and agri-tech solutions will be offered to MMBL’s growing base of agri-customers to help farmers identify, assess…
Bank AL Habib declares Rs. 4.96 billion profit after tax
The Board of Directors of Bank AL Habib Limited (the Bank) announced the Bank’s financial results for the period ended 31 March 2022. The Bank posted profit after taxation of Rs. 4.96 billion i.e. an increase of 7.88 percent compared to corresponding period last year. The Bank’s profit before tax was recorded at Rs.8.18 billion,…