Auto financing in Pakistan fell to PKR 234.64 billion in November 2024, registering a decline of 0.53% month-on-month from PKR 235.88 billion recorded in October 2024, according to data released by the State Bank of Pakistan (SBP). On a yearly basis, the decline was more pronounced, with funding declining by 8.72% compared to PKR 257.05 … Read more
Banks disbursed Rs 2.2 trillion to the non-government sector, including the private sector and NBFCs, during the first five months of FY25, as they aimed to meet their advance-to-deposit ratio (ADR). The goal set by the government. Under the 2024-25 budget, banks that fail to raise the daily access rate to 50% by December 31 … 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
IslamabadFinance Minister Muhammad Aurangzeb announced on Sunday that Prime Minister Shehbaz Sharif will soon unveil a new economic roadmap, stressing that the government will not impose new taxes to address any revenue shortfall. Speaking at a press conference in Islamabad, Aurangzeb highlighted positive trends in key economic indicators, including an increase in foreign exchange reserves, … Read more
A policeman walks in front of the Federal Board of Revenue (FBR) office building in Islamabad, on August 29, 2018. — Reuters FTO finds blatant case of organized tax fraud Fake transactions worth Rs 84 billion were made. Taxes worth Rs 14 billion were evaded in just a few months. ISLAMABAD: A glaring example of … Read more