The federal government’s total debt stock fell by Rs456 billion in October 2024, driven by record profit remittances from the State Bank of Pakistan (SBP) and continued debt servicing. According to data released by the State Bank of Pakistan, total debt stood at 69.114 trillion rupees at the end of October, down from 69.570 trillion … Read more
Islamabad: Interior Minister Mohsin Naqvi announced that the federal government, in collaboration with the Pakistan Telecommunication Authority (PTA), is set to take decisive action against banned terrorist organizations operating on social media. The measures will also aim to prevent illegal use of the SIM card to limit its exploitation for illegal activities. During a pivotal … Read more
SIALKOT: Aviation Minister Khawaja Asif has welcomed the decision of the European Commission and European Aviation Safety Agency (EASA) to lift the suspension on Pakistan International Airlines (PIA), stating that the move will enhance the value of the struggling national carrier. “This is an important development for PIA’s upcoming privatization efforts. It will add significant … Read more
Islamabad: Pakistan has finalized its National Economic Transformation Plan (2024-2029), which aims to position the economy at $1 trillion by 2035. The blueprint, developed by the Ministry of Planning, sets ambitious goals, including reducing poverty and increasing literacy rates. Reading and writing, IT exports will be greatly enhanced. Prime Minister Shehbaz Sharif is expected to … Read more
The government announced the retirement of 1.9 trillion rupees of debt, supported by record high revenues from the Petroleum Development Levy (PDL) and big profits from the State Bank of Pakistan (SBP), driven by high interest rates and low inflation. . According to the Ministry of Finance’s monthly economic update and outlook (November 2024), the … Read more
The government has yet to receive any of the $9 billion budgeted term deposits for the first four months of the current fiscal year (July-October 2024-25), compared to $3 billion made during the same period last year, according to data from the Department of Finance. Economic Affairs (EAD). For fiscal year 2025, the government expects … Read more
Islamabad: Retail investors can now invest directly in government debt securities, including Sukuks, marking an important step towards expanding retail participation in Pakistan’s financial markets. The Securities and Exchange Commission of Pakistan (SECP) conveyed this update to Finance Minister Muhammad Aurangzeb during his recent visit to the SECP headquarters. Government debt securities include various instruments … Read more
ISLAMABAD: Investment and Privatization Minister Abdul Aleem Khan reiterated the government’s commitment to facilitate the entry of Chinese investors into special economic zones in Pakistan, stressing the immediate resolution of issues related to land sale and transfer. While chairing a meeting on SEZ policy in Lahore, the minister instructed the Board of Investment to coordinate … Read more
Islamabad: Prime Minister Muhammad Shahbaz SharifOn Thursday, he directed the authorities concerned to ensure third-party verificationIncluding ensuring quality in all government purchases. After chairing a meeting held here to review good governance and public procurement,The Prime Minister also directed reforms in the organization of public procurementPower (PPRA) and purging power of any kind of influence. … Read more
Pakistani banks are adding new fees on some savings accounts to discourage deposit inflows, as they seek to boost their loan-to-deposit ratio to avoid a punitive tax from the government. Meezan Bank Limited, the country’s largest bank by profit, said in an email to its customers that it would impose a 5% monthly fee on … Read more