Category: Affairs

Pakistan has formally requested $3.5 billion funds from Saudi Arabia for the Diamer-Bhasha Dam. Saudis will respond to this request after consulting with their financial advisor for the dam project. Pakistan’s financial advisor will engage with an advisor from Riyadh to ensure coordination on the project’s financial aspects. The formal

The country borrowed just $6.899 billion from multiple financing sources during the first nine months (July-March) of the current fiscal year 2023-24 compared to $7.764 billion borrowed during the same period of 2022-23, representing 39 percent of the annual budget target Borrowing options were evidently scarce due to unfavorable credit

The Federal Investigation Agency’s (FIA) sources have revealed that the agency has taken action against a group involving private property dealers and officials from the Capital Development Authority (CDA). The action was taken following a detailed investigation into a complaint lodged by a private citizen. During the investigation, FIA officials

Standard Chartered Bank (Pakistan) Limited (PSX: SCBPL) has attributed the recent ‘unusual movement’ in its share price to the bank’s strong financial performance in the calendar year ending December 31, 2023 (CY23). ‘We understand that the positive trend in the price of the shares of SCBPL was triggered with the

Non-performing loans (NPLs) disbursed by the banking industry surged by more than Rs. 70 billion in 2023, the latest data by the State Bank of Pakistan (SBP) showed. In 2023, bad loans by the sector surged to Rs. 1.009 trillion, up by Rs. 71.3 billion compared to Rs. 938 billion

After suspension of a top Federal Board of Revenue (FBR) official for not pursing cases in high courts, the Securities and Exchange Commission of Pakistan (SECP) has immediately appointed new Special Public Prosecutors to defend cases before courts/tribunals including High Courts and Supreme Court of Pakistan. In this regard, the

The All Pakistan Traders Association has threatened protests if traders’ concerns aren’t addressed by the government, with the date likely to be announced during a convention in May. President Ajmal Baloch said this in reference to the Tajir Dost tax scheme for adding 3.5 million retailers to the tax net.

The Board of Directors of MCB Bank Limited (MCB) in its meeting under the Chairmanship of Mian Mohammad Mansha, on April 24, 2024, reviewed the performance of the Bank and approved the condensed interim financial statements for the first quarter ended March 31, 2024. The Board of Directors has declared