The Federal Board of Revenue (FBR) has outlined a bold plan to address Pakistan’s significant revenue shortfall, ahead of an upcoming visit by an International Monetary Fund (IMF) delegation. This development comes at a time when Pakistan is struggling to meet critical financial commitments to secure International Monetary Fund support and stabilize its fragile economy. … Read more
World Bank Country Director Naji Ben Hussein denied reports that the international financial institution criticized Pakistan’s Oran plan, calling the allegations a “misinterpretation.” In a statement shared on X (formerly Twitter), Ben Hassine addressed the confusion caused by articles published earlier that day. He explained that the reports misinterpreted a specific sentence in the newly … Read more
National Bank of Pakistan (NBP) shareholders approved the scheme of arrangement to spin off part of the SME Bank’s lending portfolio at the Extraordinary General Assembly meeting held on January 6, 2025. The approval was given during the meeting, which took place at the NBP’s headquarters and electronically. The approved scheme includes the separation and … Read more
IslamabadThe Securities and Exchange Commission of Pakistan (SECP) has approved its strategic action plan for 2024-26, which aims to promote the growth and development of Islamic finance in the non-banking financial sector. According to details, the plan has been formulated by the Supreme Committee of the Securities and Exchange Commission of Pakistan, headed by Mr. … 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 Ministry of ICT has prepared a ‘Semiconductor Policy and Action Plan’, which proposes wide-ranging incentives for the development of the semiconductor industry in Pakistan. However, the move runs counter to the IMF’s conditions under the Extended Fund Facility (EFF), which prohibits subsidies and low-cost financing. The draft policy proposes giving Special Technology Zone (STZ) … Read more
The government has unveiled a five-year economic transformation plan that aims to expand Pakistan’s economy to $1 trillion by 2035 while addressing structural challenges in multiple sectors. However, social media restrictions, frequent internet outages, and firewall enforcement pose significant obstacles to achieving this ambitious goal. The Express Tribune She stated that the “Five-Year National Economic … Read more
The Board of Directors of NetSol Technologies Limited (PSX: NETSOL) has approved important decisions aimed at strengthening the company’s financial position and providing value to its shareholders. These decisions include the sale of 2 million treasury shares to employees under the Company’s stock options program and the launch of a repurchase plan for issued common … Read more
The ICT Ministry on Friday presented a comprehensive action plan to Prime Minister Shehbaz Sharif aimed at boosting the country’s IT exports to $25 billion over the next five years. Prime Minister Shehbaz Sharif, who set an ambitious target for the IT Ministry, chaired a review meeting where he appreciated the proposed action plan and … Read more
ISLAMABAD: The International Monetary Fund has decided to submit the results of its unscheduled visit to Pakistan to its Executive Board for a decision, citing delays in the implementation of the $7 billion programme. In an official statement at the conclusion of its five-day visit, the IMF stated that “based on the preliminary findings of … Read more