Business
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17IMF Intervention in Pakistan’s Internal Affairs Sparks Controversy
Dr Aisha Ghaus Pasha, Minister of State for Finance, has criticized a statement by the International Monetary Fund (IMF) outlining prerequisites for...
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26
Karachi Customs Cracks Down on Smuggling: Goods Worth Rs. 792 Million Seized
In a major crackdown on smuggling networks, Pakistan’s Customs Enforcement in Karachi has confiscated smuggled goods, including Iranian petrol, valued at Rs....
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26
Controversy Surrounds Pakistan’s Economic Data Amid Decline and Alleged Manipulation
Pakistan’s economy has been dealt a blow in the recent fiscal year, with its size diminishing to $341.5 billion, marking a 9%...
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Pakistan’s Economy Struggles Amidst Crisis, Records Stagnant Growth of 0.3%
In the face of strict import limitations aimed at preventing a sovereign default, Pakistan’s economic growth rate plummeted to a paltry 0.3%...
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21
China and Pakistan Inaugurate New Air Cargo Routes, Bolstering Trade Relations and Agricultural Research Collaboration
Strengthening the trade and economic ties between China and Pakistan, two additional air cargo routes have been recently launched, as per a...
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22
Record-Breaking Fall of Pakistani Rupee Against US Dollar Stirs Economic Concerns
The Pakistani Rupee suffered a historical plunge on Tuesday, hitting an all-time low of Rs308 to the US dollar in the open...
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23
Pakistan’s Government Prepares for Massive Fiscal Expansion with a Rs14.6 Trillion Budget
Pakistan is preparing to introduce an extraordinarily expansionary budget for the fiscal year 2023-24, reaching around Rs14.6 trillion. This budget, marking an...
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36
Influential Industrialists Seek to Resolve Political Impasse for Economic Stability
In an effort to address the ongoing deadlock in the country’s corridors of power, influential industrialists and tycoons have taken the lead...
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36
Pakistan Faces Risk Of Default As Bond Yields Surge
Pakistan’s US dollar-denominated bond yields experienced a significant surge, indicating an elevated risk of default on foreign debt repayment for the country....
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50
Pakistan To Borrow Record Rs9.44 Trillion From Banks To Repay Maturing Debt And Finance Expenditures
The government of Pakistan has announced its plan to borrow a record Rs9.44 trillion from domestic commercial and Shariah-compliant banks over the...
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36
IMF Demands Pakistan Arrange Fresh Loans Worth $8 Billion to Meet External Debt Repayments
Pakistan’s hopes for a revival of the $6.5 billion bailout package have been further eroded as the International Monetary Fund (IMF) has...
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32
Rupee Plummets to Record Low Amid Political Turmoil and Inflation Fears
Pakistan’s rupee fell almost 3% to a new record low at Rs298.93 against the US dollar in the inter-bank market amid escalating...
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Pakistan Faces Risk of Default Without IMF Bailout, Warns Moody’s
Moody’s Investors Service, a leading financial ratings company, has issued a warning that Pakistan may default on its debts if it does...
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38
Pakistan Opens LC in Bank of China For First-ever Russian Oil Omport
Pakistan has taken a significant step towards diversifying its crude oil import sources by opening a Letter of Credit (LC) in the...
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45
Refinery Official Warns Of Daily Smuggling Of 8 Million Liters Of Iranian Diesel Into Pakistan
The CEO of Attock Refinery Limited, Adil Khattak, has claimed that between 7,000 to 8,000 metric tons of high-speed diesel (HSD) is...
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37
Gilgit-Baltistan Delegation Visits Xinjiang To Boost Bilateral Trade
A parliamentary delegation from Gilgit-Baltistan (GB) recently visited Tashkurgan town in Xinjiang, a northwest autonomous territory in China, to discuss matters of...
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36
Pakistan And Turkiye Implement Preferential Trade Agreement After Seven Years
Pakistan and Turkiye have implemented a preferential trade agreement to boost bilateral trade volume across various sectors after seven years of signing...
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37
Government Raises Rs705bn Through Treasury Bills Auction Amid High Liquidity Of Banks
The Pakistani government raised Rs705 billion through the auction of market treasury bills on Wednesday, despite receiving bids of Rs1.195 trillion, mostly...
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61
Pricey Currency Causes Problems For Startups
Digital businesses reduce costs by switching from the dollar to the rupee. Businesses operating in Pakistan are beginning to reduce their costs...
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71
Pakistan’s Current Account Balance Achieves Surplus of $654 Million in March
Pakistan’s economy has experienced an unexpected improvement in its current account balance, with a surplus of $654 million achieved in March. This...
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77
Pakistan’s Tax System Needs Overhaul, Says World Bank
The World Bank has called for an overhaul of Pakistan’s tax system to simplify provisions, close loopholes, and ensure an equitable distribution...
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555
World Bank Warns Of Further Rise In Pakistan’s Inflation To 29.5% In FY23
Pakistan’s inflation is set to rise to 29.5% in the fiscal year 2023 due to the weaker Rupee, as well as higher...
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Pakistan’s Foreign Exchange Reserves Decline by $170 Million to Reach $4 Billion: SBP
The State Bank of Pakistan (SBP) announced on Thursday that the central bank’s foreign exchange reserves have decreased by $170 million, remaining...
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75
UAE Confirms $1bn Support For Pakistan To IMF, Says Finance Minister Dar
UAE has confirmed its commitment to the International Monetary Fund (IMF) for its bilateral financial support of $1 billion to Pakistan, according...
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88
IMF Remains Steadfast On Staff-Level Agreement: Ishaq Dar
Pakistan’s Finance Minister Ishaq Dar has urged the International Monetary Fund (IMF) to show some flexibility and sign the staff-level agreement during...
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59
Increase In Smuggled Cigarettes Sales After Hike In Duties
Smuggled cigarettes have flooded the market in Pakistan, posing a serious threat to the government’s efforts to increase revenue receipts. In March,...
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65
Finance Ministry notifies that no entity can incur unapproved expenditures
The Ministry of Finance has issued a notification stating that no authority can make any expenditure or create a liability against the...
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75
Finance ministry’s economic outlook highlights economic slowdown
The government of Pakistan has warned of further inflation and economic slowdown, blaming the delay in finalizing a deal with the International...
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730
Pakistan Removed from EU’s List of High Risk Third Countries
The Ministry of Commerce announced on Wednesday that Pakistan has been removed from the European Union’s (EU) “High Risk Third Countries” list....
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53
Large scale manufacturing shrinks 7.75% in October
Large scale manufacturing (LSM) fell 7.75 percent year on year in October, with the textile, machinery, equipment, and automobile sectors contracting, according...
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60
A lack of documentation has resulted in a gold import ban
Commerce Ministry officials told a Senate panel that if the country’s entire gold business was documented, then the gold import ban could...
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59
Remittance inflows fall by 4.8%, recorded $2.1bn in November
Remittance inflows dropped by nearly 5% on a month-on-month basis in November of the fiscal year 2023, a drop that is being...
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108
Old banknotes cannot be exchanged after 31st, says SBP
The State Bank of Pakistan (SBP) announced on Tuesday that the old design large size banknotes of Rs 10, 50, 100, and...
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142
Pakistan hopes to acquire $32 billion loan this year
Renowned economic and political experts said that there was no immediate prospect of declaring an economic emergency in Pakistan because the government...
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133
Vietnam sees trade rising to $1 billion next year
On Thursday, Vietnam Ambassador Nguyen Tien Phong expressed optimism that annual trade with Pakistan would reach $1 billion by the end of...
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131
Pakistan’s business confidence score drops to negative 4%
According to the Overseas Investors Chamber of Commerce and Industry (OICCI), Pakistan’s business confidence score (BCS) fell to negative 4% in September-October...
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149
No ‘Economic Emergency” being imposed in Pakistan: Finance division
Finance division denied all the rumours of “economic emergency” being imposed in Pakistan and said that such news are spread by the...
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230
Pizza Hut and Burger King sold their businesses in Pakistan
Famous food eateries, Pizza Hut and Burger King came under new management as Maaks International acquired MCR and MCR Pakistan. Pizza Hut...
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233
What Happens When A Country Defaults?
A country defaults occur when a country is unable or unwilling to pay the debts on due time. Though country defaults happen...
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138
FBR to auction off properties, trademarks
Federal board of revenue (FBR) to auction off properties and trademarks of big tax defaulters to recover tax dues. The Director General...
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137
Google suspends carrier-paid apps in Pakistan
Google momentarily stopped allowing Pakistani consumers to buy carrier-paid apps despite Syed Aminul Haque, the federal minister for IT and telecom, giving...
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115
Pakistan repays $1bn sukuk bond before maturity to avert default risk
According to the Finance Ministry, Pakistan successfully repaid $1 billion in international SUKUK bond (Islamic bonds) on December 2, three days before...
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120
SBP rebuts placement of any restriction on LCs for import of petroleum products
The State Bank of Pakistan (SBP) strongly quashes the rumours in the mainstream media that the central bank imposed any restrictions on...
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133
FBR extends income tax returns filing date once again
Federal Board of Revenue (FBR) extends the income tax returns filing date till 15th December, for the third time. The announcement was...
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173
SECP registered 4,791 real estate and construction companies in FY22
According to annual report of Security and Exchange commission of Pakistan (SECP), over 26,000 companies were registered with SECP in the fiscal...
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144
SBP makes account opening mandatory for buying $2,000 or above
The State Bank of Pakistan (SBP) has made it mandatory to open an account before purchasing more than $2,000, in a key...
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291
China aided Pakistani students to become e-commerce owners
Beijing and Islamabad have started a mutual cooperation for the betterment of e-commerce industry focused on the youth. This mutual cooperation between...
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198
Dubai-based port operator DP World to set up industrial park in Pakistan
DP World, a Dubai-based global logistics and port terminal operator working at Karachi port has decided to set up an industrial park...
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267
Textile and apparel exporter Interloop records highest profit of Rs 12 billion
Interloop Limited, Pakistan’s one of the leading textile and garments exporter company, has posted its highest-ever profit of more than Rs. 12.3...
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182
PBC, UNICEF agree to promote gender equality and family friendly policies in workplace
The Pakistan Business Council (PBC) and the United Nations Children’s Fund (UNICEF) have penned down a Memorandum of Understanding (MOU) in a...
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166
IT Ministry and Ignite launch 6th National Incubation Center in Hyderabad
The Ministry for Information Technology and Telecom (MOITT) and Ignite National Technology Fund have successfully launched their 6th National Incubation Center (NIC)...
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422
China’s Hunan Sunwalk to invest huge in Pakistan’s telecom and fiber infrastructure
A multi-billion dollar Chinese company Hunan Sunwalk Group is striving to invest in telecom infrastructure and fiber business in Pakistan, specifically in...
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262
Government will hold OIC Trade Fair to enter untapped markets
The Trade Development Authority of Pakistan (TDAP) is looking forward to organizing single-country exhibitions in potential non-traditional markets for introducing and encouraging...
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226
Small and medium-sized enterprises can benefit greatly from CPEC
China Pakistan Economic Corridor (CPEC) can significantly benefit small and medium-sized enterprises (SMEs), which are essential to economic empowerment, reported media. In...
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460
Standard Chartered brings record half-yearly operating profit of Rs 22 billion
Standard Chartered Bank Pakistan Limited (SCBPL) posts a record half-yearly profit before tax of PKR 22.0 billion, showing an improvement of 84...
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352
Systems Ltd and Highnoon Laboratories make it to Forbes list for a third time
Two Pakistani firms, Highnoon Laboratories, and Systems Ltd, have made their place to Forbes’ coveted ‘Asia’s Best Under a Billion list for...
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193
Planning Minister directs to start cargo shuttle service from Lahore to Karachi
Federal Minister for Planning, Development, and Special Initiatives Ahsan Iqbal issued directives to the concerned stakeholders to initiate a cargo shuttle service...
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237
State-of-the-art industrial zone will be established over 1,200 acres in Sialkot
Punjab Industrial Estates Development and Management Company (PIEDMC) has announced to establishment modernized industrial zone on 12 hundred acres at Suhan Wali...
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333
Pakistan Software Export Board to set up first Sales Launch Pad in Saudi Arabia
In a bid to enhance IT exports, Pakistan Software Export Board (PSEB) has decided to develop “Sales Launch Pads” in several key...
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348
China offered to set up industry at Dhabeji special economic zone for export purpose
Federal Minister for Industries and Production, Syed Murtaza Mahmud on Thursday offered China to establish its industry on the land of 1,500-acre...
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252
Systems Limited listed in Forbes Asia’s Best Under A Billion for third time in a row
Pakistan’s leading information technology consulting and services company, Systems Limited, has made history by becoming Pakistan’s only tech enterprise to be named...
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227
Pakistani freelancers earned $397 million from abroad during FY21-22
Pakistani freelancers have produced export revenue of $397.328 million during FY2021-22 at a growth rate of 2.74%. This comprises IT-related exports of...
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276
SECP to take legal action over unauthorized access of companies’ data
The Securities Exchange Commission of Pakistan (SECP) on Thursday announced to start all legal resources against those involved in unauthorized access of...
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408
Pakistan’s five-year export strategy unveiled with focus on 10 priority sectors
The Commerce Ministry and the Trade Development Authority of Pakistan (TDAP) revealed a complete National Priority Sectors Export Strategy (NPSES) for Pakistan in order to achieve the country’s ambition...
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220
Jameel Ahmad appointed SBP governor for five years
Jameel Ahmad has been appointed as the State Bank of Pakistan (SBP) governor for five years, the federal government announced on Friday. ...
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682
SECP introduces new registration regime for digital-only insurers and microinsurers
A registration regime for digital-only insurers and dedicated micro-insurers has been launched by the Securities and Exchange Commission of Pakistan (SECP) aiming...
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306
CPEC to boost digital economy in Pakistan underdeveloped areas
The underdeveloped areas have also got benefits through the China-Pakistan Economic Corridor (CPEC), which runs from Khunjerab to Gwadar. Pak-China cooperation would...
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262
Pakistan’s large-scale manufacturing grew 11.7% in FY22
The Large Scale Manufacturing Industries (LSMI) output has recorded an increase of 11.7 percent in the last fiscal year 2021-22 (FY22) when...
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222
Healthy ready-to-eat product seller Powerfoods secured investment
After the huge awareness of healthy eating and nutritional foods across the globe, a local husband and wife team, Syed Salahuddin and...
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637
Amazon shuts down over 13,000 Pakistani accounts due to fraud
According to reports, Amazon has terminated more than 13,000 Pakistani seller accounts over suspicions of fraud. Due to previous government backing through Pakistan...
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2.2K
SECP introduces digital asset management companies to facilitate investors
The Securities and Exchange Commission of Pakistan (SECP) initiated the concept of Digital Asset Management Companies (AMCs) to encourage financial inclusion and...
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280
SECP registered 26,502 new companies in FY22
The Securities & Exchange Commission of Pakistan (SECP) has registered 26,502 new companies during Fiscal Year 2021-22 (FY22), showing an increase of...
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287
ADB projects Pakistan’s economy to recover slightly in FY23
The Asian Development Bank (ADB) has predicted that Pakistan’s economy will “recover slightly” during the fiscal year 2022-23 (FY23) on the account...
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287
Pakistan’s large scale manufacturing grew 11.7% in 11MFY22
Output from the Large Scale Manufacturing Industries (LSMI) showed a growth of 11.7 percent during July-May 2021-22 (11MFY22) when compared to the...
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291
Rupee nosedives to 225 against dollar due to renewed political volatility
Rupee dropped to a new all-time low of Rs 224.92 against the US dollar in the interbank market as the nation’s currency...
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308
Bahrain’s Rain Financial exchange seeking to start crypto trading in Pakistan
Bahrain-based Rain Financial, a well-known trading platform for cryptocurrencies, is encouraging the domestic regulators to issue a legal framework for the enactment...
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368
Funding into Pakistani startups dipped 40% since PM Shehbaz took office
Startups in Pakistan succeeded to earn $103.8 million in 22 deals in the April-June quarter, which decreased around 40 percent from the...
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277
Pakistan’s KSE-100 Index sees largest decline after 8 quarters
Pakistan’s benchmark KSE-100 Index witnessed largest decline after eight quarters where index was down by 8% on quarter-on-quarter basis. The index fell...
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346
Saudi business delegation in Pakistan to explore investment, joint ventures
Saudi businessmen have all their eyes on finding trade and investment opportunities in Pakistan, they expressed their will to work together. According...
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275
Sindh, Punjab and Islamabad markets to close at 9 pm to save electricity
The Sindh and Punjab governments and Islamabad administration have decided to close down all markets at 9 pm as the country witnesses...
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316
In first month of PML-N-led govt, Large Scale Manufacturing shrank by 13.3%
During the first month of the PML-N-led coalition government, the Large-Scale Manufacturing (LSM) decreased by 13.3 percent month-on-month in April, as per...
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393
HBL becomes the first Pakistani bank to provide payment services on WhatsApp
HBL is the first bank in Pakistan to provide ‘full-featured’ banking services over WhatsApp. E.Ocean, a well-known cloud communication service provider, collaborated...
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315
B2B marketplace Dastgyr raises $37 million making it Pakistan’s largest series A round
Dastgyr, a Pakistan-based B2B e-commerce marketplace, has raised USD 37 million in Series A funding led by Veon. On Tuesday, it was...
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1.9K
Non-resident Pakistani businessmen will now have to file tax returns
The criteria for non-resident Pakistani businessmen have been changed as they would now be required to file their income tax returns to...
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311
Bitcoin fell below $20,000 for the first time since December 2020
The sell-off in cryptocurrencies deepened even further on Wednesday, with bitcoin sinking below $20,000 for the first time since December 2020. This...
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570
Total companies registered by SECP goes up to 169,919 till May 2022
In May 2022, the Securities and Exchange Commission of Pakistan (SECP) registered 1,906 new companies, bringing the total number of businesses registered...
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1.4K
Khaadi fashion brand secures $25 million investment from IFC
The International Finance Corporation (IFC) has decided to invest $25 million in one of the country’s top fashion retailers Khaadi for creating...
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474
How to speed up your dreams with the Binomo platform
How to speed up your dreams with the Binomo platform In this review, we’ll discuss all about how traders in Pakistan can...
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443
4 Pakistanis make it to Forbes 30 under 30 Asia list for 2022
Four Pakistanis have been named to the Forbes 30 under 30 Asia list for 2021. These Pakistani youngsters have been recognized for...
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268
What is four-day working week and why it may save Pakistan billions of dollars?
Amid increasing oil consumption and import bill because of international price hikes, the cash-strapped government is looking for the possibility of conserving...
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355
Pakistan can generate $90 million per year by imposing 15% tax on crypto trading
A key international crypto company recommended the Pakistan government imposition of tax on crypto assets and frame guidelines in this respect. Aatiqa...
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242
8 Tips For Launching A Successful Digital Product To The Market
The digital world has transformed the way businesses operate and has given new impetus to entrepreneurs. It is a platform where businesses...
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490
Street vendor earns average Rs 114,708 per month and 29% of which is profit
Researchers discovered that the average earnings of a street vendor in Pakistan is Rs 114,708, with 29 percent profit, while suggesting that...
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438
Health-tech platform MEDZnMORE raises $11.5 million Pre-Series A funding
The company proclaimed that it has accomplished its Pre-Series A round marking the highest investment in health tech to date. MedznMore has...
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406
Lucky Cement consolidated earnings at Rs 26.53 billion in 9 months
Lucky Cement Limited has earned a net profit of Rs 26.53 billion during the last nine months of 2021, as per the...
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578
Fauji Fertilizer achieved net profitability of Rs 6.24 billion in Q1 2022
Fauji Fertilizer Company (FFC) Limited, Pakistan’s leading urea manufacturer, reported a profit after tax of Rs. 6.24 billion for the quarter ending...
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631
Meezan Bank surpasses HBL to become second most profitable bank after UBL
United Bank Limited (UBL) reported a net profit of Rs 9.394 billion for the quarter ended March 31, followed by Meezan Bank...
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322
SECP registered 2,354 new companies in March
The Securities and Exchange Commission of Pakistan (SECP) has done the registration process of 2,354 new companies in March 2022, making the...
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510
Number of companies registered by SECP reached 158,537 till end of 2021
The Securities and Exchange Commission of Pakistan (SECP) struck off over 3,000 inactive companies from its books during the period of December...
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532
B2B e-commerce startup Jugnu raises $22.5 million in Series A Round funding
Pakistan-based Jugnu, a B2B E-commerce startup, has succeeded to raise US$22.5 million. The Series A round was headed by Saudi-HQ’d and MENAP servicing B2B...
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495
Pakistani startups raised staggering $563.5 million in 255 deals since 2015
Pakistani startups have raised $563.5 million in 255 deals from the year 2015. Only in 2021, 83 deals raised $350 million, revealed...
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438
Bank financing to SMEs jump by 20% to Rs 524 billion in second quarter
Bank financing to small and medium enterprises (SMEs) has jumped by 20 percent quarter-on-quarter in October-December 2021. The PTI government has been...
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543
Himalayan Chef Grocery Shopping: A One Stop Solution For Your Kitchen Needs!
Imagine you have had a very long rough day at work; you come back home, open up your pantry to cook something....
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510
Apple, Google, Netflix and IKEA join the growing list of companies pulling out of Russia
A number of private global companies have found their own ways to hit back against the invasion as sanctions against Russia rack...
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535
E-Tijarat portal launched to support entrepreneurs, freelancers
E-Tijarat, Pakistan’s first e-commerce online portal, was launched by Prime Minister Imran Khan to boost trading while also assisting the government in...
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587
The best places to mine Bitcoin and earn money
As we all know by now, Bitcoin (BTC) is a currency of the likes we’ve never seen before. It’s an entirely new...
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302
50pc drop in Kinnow export feared
Greater shipping charges, absence of refrigerated containers, and substandard quality of the crop are trouncing the Kinnow export this season. According to...
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788
‘Business friendly environment top priority of Punjab’
Guaranteeing a business-friendly environment is the topmost priority of the Punjab government and the business community will not experience any problem in...
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544
E-commerce policy to target $5 billion trade, 1 million jobs during 2022
The federal government has approved e-commerce policy and finalized its plan to inaugurate the first-ever virtual e-commerce university. Senator Aon Abbas, the...
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607
Much awaited National SME policy hoped to create Pakistan’s own silicon valley
The National Small and Medium Enterprises – SME Policy has been launched and hopefully the country would see the benefits of this...
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1.0K
Board of Investment implements 100 reforms to facilitate businesses
Out of 168 proposed reforms, the Board of Investment (BOI) has completed 100 reforms which aim to identify, simplify, modernize the regulatory...
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582
IT ministry proposes tax exemption for freelancers for the next 10 years
To enhance ease of doing business and boost exports, the Ministry of Information Technology and Telecommunication has recommended a 10-year tax exemption...
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900
Khyber Pakhtunkhwa attracts $8 billion investment at Expo Dubai
The government of Khyber Pakhtunkhwa (KP) signed 44 agreements worth more than $8 billion at the Dubai International Expo 2020 to attract foreign...
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521
Oman invites Pakistanis to invest in its core five sectors
Pakistan has been welcomed to invest in core five sectors of Oman, i.e., mining, logistics, tourism, food security and industrial growth. During...
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733
Binance joins hands with Pakistan for busting $100 million crypto scam
Binance has made contact with the Federal Investigation Agency’s (FIA) of Pakistan and committed full cooperation in the probe of a mega-scam...
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1.1K
Hunarmand Nojawan, Facebook to train 10,000 females in micro-entrepreneurship
Punjab’s Technical Education and Vocational Training Authority, in collaboration with Meta formally known as Facebook had trained 3,000 women and were planning...
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492
Banking sector assets rise 21% to Rs 28.8 trillion in 12 months
The total assets of the banking sector rose 20.9 percent to Rs 28.790 trillion till September 2021 against Rs 23.808 trillion in...
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636
Pak-China Business Investment Forum launched with 18 Chinese, 19 Pakistani companies
Chinese Foreign Ministry Spokesperson Wang Wenbin addressing a press conference lauded Pakistani authorities over the launch of Pak-China Business Investment Forum (PCBIF)....
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831
First Islamabad-Istanbul cargo train reaches Turkey via Tehran in 13 days
The first cargo train between Istanbul and Islamabad via Tehran (ITI) reached Ankara via Lahore, Taftan and Zahedan, completing its journey in...
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556
Pakistan launches national pavilion on China’s e-commerce platform JD
Pakistan’s National Pavilion on JD.com, China’s e-commerce platform has been inaugurated, intended to provide a platform to Pakistani and Chinese dealers for...
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668
Collateral-free Asaan Finance Scheme by State Bank will be a game changer for SMEs
Governor of the State Bank of Pakistan (SBP) Reza Baqir said that the SBP Asaan Finance Scheme (SAAF) will be a game-changer in...
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854
Non-textile exports jump 25% to $4.61 billion in five months
Country’s non-textile exports grew 24.59 percent year-on-year to $4.61 billion in the first five months of the current fiscal year. The government...
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625
Government to aid around five million small businesses under new SME policy
The government revealed the new Small and Medium Enterprises (SME) Policy 2021-25, with the aim to promote nearly five million businesses via...
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668
IPOs of eight new companies raise record Rs 20 billion in 2021
Almost eight companies went public in 2021, which records the maximum number of offerings within a year since 2015. The afresh registered...
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616
Services export rises 24% to $2.122 billion in first four months
Services export has been risen by over 24.25 percent year-on-year to $2.122 billion in the first four months of the current fiscal...
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1.2K
Coca-Cola to inaugurate $50 million greenfield plant in February, 2022
Coca-Cola Icecek Pakistan on Monday said the $50 million greenfield project in the Haripur district of Khyber Pakhtunkhwa would be completed by...
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497
Import bill of 30 items rise 142% in November
The import bill of 30 items reached Rs 696.346 billion during November as compared to Rs 287.131 billion during the same month, last year,...
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716
Pakistan sets up gems and jewellery export promotion authority
The federal cabinet has approved the establishment of the “Pakistan Gems and Jewellery Export Promotion Authority”, the draft would be presented before...
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495
Exports, imports see record rise in 1QFY22
Imports and exports both touched the highest-ever level in the first quarter of fiscal year 2021-22 (1QFY22) which persuaded the government to...
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725
Data shows Pakistan economy entering ‘fast recovery’ period
A chain of statistics issued by authoritative international agencies and the government of Pakistan reveals that currently, Pakistan’s economy is arriving at...
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695
Foreign direct investment falls 12% to $662 million during first four months
During the first four months of current fiscal year, foreign Direct Investment (FDI) decreased by 12 percent which stood at $662 million as...
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865
State Bank warns banks against currency speculation
The State Bank showed severe concerns over speculation by banks in the currency business, stating they were indulged in the multibillion-rupee game. ...
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669
BOI starts E-Kachehry on regular basis for interacting with investors
The Board of Investment (BOI) has initiated to conduct e-kachehry programs regularly for a purpose to resolve investment associated subjects. The interaction program...
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686
SBP jacks up interest rate by 150 basis points to control rising inflation
The State Bank of Pakistan (SBP) increased its benchmark policy rate by 150 basis points on Friday, in line with market expectations,...
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435
Trade deficit with nine regional countries widens to $3.18 billion in first quarter
Exports of Pakistan to nine neighbouring countries rose by 31.56%, however, the imports from these countries also went up by 42.6% in the first...
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617
Salary-advance startup Abhi raises funds at $40 million valuation
Abhi, a Karachi-based salary advance startup has outstretched capitals at a $40 million assessment only four months after introducing its business, reported Bloomberg. ...
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723
Eight sectors record double-digit growth in exports
Almost eight sectors recorded double-digit growth during the first four months of the current fiscal as compared to these months of the last...
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668
Pakistani mango exports to China increase tenfold to 37.4 tonnes in Jan-Sept
Pakistani mango exports to China saw an increase of more than 10 times as Pakistan sent 37.4 tonnes of fresh and dried mangoes...
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678
Goods worth $3.76 billion sent to top export destinations US, China, UK in four months
The United States, China, and the United Kingdom (UK) continued to be the top three export destinations of Pakistani merchandise in the...
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780
Daraz breaks 11.11 record, serving 14 million e-commerce shoppers
Daraz, the major e-commerce marketplace in South Asia, has revealed an 11.11 breaking record, having more than 14 million e-commerce consumers visiting...
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458
Pakistani exports to China to be doubled in next 3-5 years
Pakistan’s exports to China will double over the next three to five years because of the growing attention of local traders and...
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484
Export of services rises by 23% to $1.572 billion in Q1
Over 23 percent growth of Pakistan’s export of services has been recorded in the first quarter of the current financial year from...
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485
SMEs likely to get Rs 60 billion collateral-free lending from eight banks
State Bank of Pakistan has selected eight banks to get financing at 1 percent for onward lending to SMEs at a maximum end-user rate...
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446
Mounting imports push trade deficit up 103% in 4 months
The first four months of the current fiscal year (4MFY22) posted a rise of more than 103 percent in trade deficit all...
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1.9K
Pakistan October exports set a new record, swell 17.5% to $2.47 billion
There has been an increase in the exports of the country by 17.5 percent during the month of October 2021 to $2.471 billion which was $2.104...
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463
Mastercard partners with Bakkt to offer cryptocurrency services and solutions
Mastercard has announced a partnership with Bakkt, a cryptocurrency firm, to ensure that crypto alternatives are available to retailers across its payments...
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952
Four NLC trucks completes TIR round trip to Azerbaijan and Turkey
National Logistics Cell (NLC) has completed first ever commercial road movement under TIR (Transports Internationaux Routiers or International Road Transports) to Turkey...
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634
SECP to investigate glitch in new trading system of PSX
Securities and Exchange Commission of Pakistan (SECP) has decided launch an inquiry into the suspension of new trading system of the Pakistan...
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727
Meet the 15 youngest billionaires under the age of 40 in Forbes 400
In the Forbes 400 list, at least 15 are under the age of 40 and the youngest being 29-year-old Sam Bankman-Fried, who...
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735
Searle Pakistan IPO offering expected to make record
Searle Pakistan Limited, Pakistan’s pharmaceutical powerhouse, is preparing for the country’s largest initial public offering (IPO) in its history. Searle Pakistan Limited...
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589
Foreign investment inflows in Pakistan soared by 323 percent YoY in Q1
Foreign investment inflows increased to nearly $1 billion in the first quarter of the fiscal year 2021-22, owing primarily to government Sukuk...
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469
Bitcoin jumps to new high above $67,000 after landmark ETF Listing
Bitcoin climbed to a record high on Wednesday as investors cheered the successful launch of the first U.S. bitcoin futures exchange-traded fund...
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576
Export diversification strategy starts showing promising results
A senior government official said on Wednesday that the export diversification programme has just begun to show positive results, but that there is still...
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762
High trade breaks four-day losing streak of rupee against dollar
The rupee appreciated slightly against the dollar in the inter-bank market on Friday and broke a four-day losing streak against the US dollar,...
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Vegetables exports grow by 82.88%, fruits up 23.49%
Exports of vegetables increased by 82.88 percent and fruits up by 23.49 percent in the first two months of the current fiscal...
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1.4K
Islamabad-Tehran-Istanbul road corridor becomes operational for trade
A welcoming ceremony was held on October 8 by the Turkish Trade Ministry in Istanbul after the Islamabad-Tehran-Istanbul Road Transport Corridor Project successfully carried commercial...
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695
Exports to Japan jump by 24.2% to $50.6 million in Q1 despite Covid
Merchandize exports to Japan from Pakistan witnessed an increase of 24.21 percent to reach $50.6 million during the first quarter (Q1) of...
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724
Fitch forecasts Pakistani rupee to weaken further in 2022
According to Reuters, Fitch Ratings now anticipates the Pakistani Rupee to depreciate considerably further against the US Dollar in 2022. It lowered...
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617
Dollar hits historic high at Rs 172 in the open market
The US Dollar continues to increase its worth against the rupee, mounting to a historic high of Rs 172 in the open...
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713
Forbes features Pakistan’s Systems Limited and Highnoon in its ‘Best Under A Billion’ 2021 list
Systems Limited, a Lahore-based information technology company, and another Pakistani company, Highnoon Laboratories have been named to Forbes’ list of Asia’s Best Under A Billion. The...
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673
Pakistan single window to help the country become an international trade hub
Pakistan Single Window (PSW) will not only lessen the time, cost and impediments while contributing considerably towards simplicity of doing business, but...
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454
Pakistan pursuing preferential trade deals with Saudi Arabia, Oman, UAE
Pakistan is looking to establish bilateral trade deals individually with Oman, Saudi Arabia, and the United Arab Emirates after trade talks within...
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657
Pakistan exported 95,991 tonnes of meat worth $333 million in FY21
Pakistan exported 95,991 tonnes (worth $333 million) of meat and meat preparations in FY21 that is an all-time high figure. Managing Director of PK Livestock, Tariq Mehmood Butt...
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2.0K
KU graduate and IBA alumnus Sabir Sami appointed KFC Global CEO
Sabir Sami has been appointed as KFC Global Chief Executive Officer by Yum! Brands with effect from January 1, 2022, according to a...
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703
Dollars being smuggled to Afghanistan adds pressure on weaker rupee
Dr. Raza Baqir, Governor of the State Bank of Pakistan (SBP), has revealed that US dollars are being smuggled into Afghanistan from Pakistan. ...
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652
GDP of Pakistan expected to grow by 4.2% in FY22: Fitch
The economy of Pakistan will grow at the rate of 4.2% during the current fiscal year against the government target to get...
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677
Corporate sector to opt for digital payments by November: FBR
Companies would be required to make payments on expenditures over Rs 250,000 through digital channel alone starting November 1, according to spokesperson...
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706
Current account deficit widens 81 percent to $1.47 billion in August
The Current Account Deficit during the month of August has increased by 81 percent to $1.476 billion as compared to the previous...
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648
SBP increases policy rate by 25bps to 7.25 percent after a 15-month gap
State Bank of Pakistan (SBP) has increased the benchmark interest rate by 25 basis points to 7.25 percent on Monday after 15...
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564
Foreign investment falls 20 percent to $203 million in Jul-Aug
A 20 percent drop-down of Foreign direct investment (FDI) has been reported in the first two months (July-August) of the ongoing fiscal...
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653
Pakistani startups Sastaticket, Safepay feature on Forbes Asia ‘100 to watch’ list
Another new achievement-Pakistani startups are on the way to make their space in the international platform by fascinating wider international investment and...
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423
Output of LSM industries grows by 2.25 percent in July
The fiscal year 2020-21 has been wonderful for the Large Scale Manufacturing- LSM Industries in Pakistan which showed a growth of 14.85...
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419
Chinese firms confident in Pakistan after meeting with PM Imran
The Pakistan government is concentrating on the ‘ease of doing business’ policy and extending facilities to investors, stated Prime Minister Imran Khan...
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857
Big trade expected between Pakistan Turkey via new land route
A big step for bilateral trade between Pakistan and Turkey as a direct land route via the Istanbul-Tehran-Islamabad (ITI) road corridor is...
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1.2K
Rupee slumps to an all-time low of 168.9 against the dollar
A decline of 85-paisa in the inter-bank market owing to the pressures caused by external payments, hauled the rupee to a record...
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702
Remittances see 10 percent increase in first two months of FY22
Pakistan has received $5.364 billion in remittances during the first two months of the fiscal year 2021-22 (2MFY22), showed an increase of...
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780
Nadra launches contactless biometric verification service for banking
Making positive use of technical advancements, and accepting the request of the State Bank of Pakistan (SBP), National Database and Registration Authority...
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627
First-ever EU-Pakistan business forum for SMEs launched
The first-ever European Union (EU)-Pakistan Business Forum for Small and Medium Enterprises (SMEs) was launched on Thursday, aimed at boosting trade with countries...
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1.2K
Rupee falls to 13-month low of 168.08 against dollar as trade week closes
The rupee ended the day weaker and lost 0.26 percent against US dollar, according to today’s inter-bank closing exchange daily report. The US dollar’s...
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1.0K
Morgan Stanley downgrades Pakistan Stock Exchange from emerging to frontier
The Morgan Stanley Capital International (MSCI) has announced to cut down Pakistan Stock Exchange (PSX) among reduced progressive economies into Frontier Markets...
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663
Exports of services up 6.39 percent to $483 million in first month of FY22
Pakistan Bureau of Statistics presented a report on Saturday, illustrating that exports of services have been increased by 6.39 percent to $483...
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375
In world first, bitcoin becomes legal tender in El Salvador
Despite significant domestic distrust and international warnings about consumer concerns, El Salvador became the first government in the world to accept bitcoin...
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500
Seed Out receives IsDB Award for impact in Islamic Economics
Another great achievement for Pakistan- Seed Out, a micro-entrepreneurs non-profit crowd funding platform has been conferred with Islamic Development Bank Award for inspirational achievement for the first...
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427
Google, Apple forced to open up app store payments in South Korea
South Korea became the first country to force Apple and Google to open up their app store to other payment systems. According...
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559
Trade gap widens by 133 percent to $4.05 billion in August
During the month of August, the trade gap widened 133 percent to $4.05 billion against $1.740 billion during the same month, last year. This...
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503
National Savings outflows exceed inflows first time in 16 years
The net savings in National Savings remained negative during the fiscal year 2020-21, which has happened for the first time after 2004-05....
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567
New investment options opened up for overseas Pakistanis through RDA
The country’s central bank has given overseas Pakistanis a variety of new investment choices in Pakistan, including public and unlisted enterprises, mutual...
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408
Cargo handling at two major seaports posts double-digit growth in FY21
Cargo handling activities at Karachi Port Trust (KPT) and Port Qasim Authority (PQA) recorded a growth of 25 percent and 13.72 percent in FY21...
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369
Tarin unveils three-year economic plan for 14 key sectors
With the commitment not to exit the International Monetary Fund (IMF) programme and instead take it to face-to-face talks in Washington in October, Finance...
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810
Overseas Pakistanis can now redeem cash-rewards for sending remittances
The government is going to allow the remitters to redeem in-cash rewards for the points earned for sending remittances to Pakistan through...
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508
New SBP instructions for selling third-party products
SBP has issued a comprehensively revised set of instructions on the sale of third-party products, the instructions will be applicable from 1st November. ...
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594
Govt aims to take exports to record high by 2023
Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood on Wednesday said that that the government would take exports to...
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577
Pakistan up 59 points in OICCI’s Business Confidence Index
Pakistan has shown a significant improvement in the overall business confidence in recent months, revealed Business Confidence Index (BCI). BCI survey has...
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603
PayPal launches its cryptocurrency service in the UK
Starting this week, the US online payments giant PayPal said that British users will be able to buy, hold, and sell cryptocurrency. ...
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472
Italy explores investment opportunities in Pakistan
There were vast opportunities for mutual trade and investment between Pakistan and Italy from which businessmen and traders of both the countries...
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776
Bitcoin nears $50,000 as crypto market remain bullish
The crypto market remained bullish for the second straight day on Saturday, with the Bitcoin nearing $50,000 as it continues to rebound after months...
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590
T-bills bounce back as foreign investment reach $15.98 million
The inflow of foreign investment in T-bills during the second month of the current fiscal year reached $15.98 million against the outflow...
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532
Roshan Digital Account inflow hits $2 billion
Roshan Digital Account (RDA) which was introduced last September became a wonderful source of getting foreign exchange as the deposits in this...
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724
SME Asaan Finance introduced for SMEs to get loans without collateral
The State Bank of Pakistan (SBP) has introduced a financing scheme for Small and Medium Enterprises (SMEs) called SME Asaan Finance, enabling...
