The National Railways Committee has informed the National Assembly that a delegation of Chinese experts is expected to visit Pakistan later this month to finish the finishing touches on the financial plan for the main Line-1 project. After approval of the financial plan, the bidding process will start, allowing the construction to start. Headed by … Read more
On Sunday, the President of the Federal Revenue Council (FBR) defended Rashid Mahmoud Langeal. His statement came in response to the objections raised by the Senate Standing Committee for Finance and Revenue, as Senator Faisal Faouda criticized this step, describing it as “open corruption” and the misuse of government funds, especially after the continuous lack … Read more
The Pakistani government has decided to formally notify the International Monetary Fund of its plan to change annual electricity tariffs from July to January, a move aimed at easing financial pressures on consumers during the peak summer months. The amendment comes as part of broader efforts to address public dissatisfaction over rising electricity costs, which … Read more
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