Mohammad Ali Jinnah University (MAJU) recently hosted a seminar on Pakistan’s economic situation and the latest agreement with the International Monetary Fund (IMF) at the campus. Speaking at a seminar, Director at the Center for Excellence in Islamic Finance (CEIF)-IBA Ahmed Siddiqui underscored the crucial role of the IMF in stabilizing the country’s current account…
‘Rs 1 trillion in losses can be controlled by effective enforcement policies’ The government could enhance the tax-to-GDP ratio, increase tax collection, and reduce the budget deficit by curtailing tax evasion and illicit trade in major sectors, said Fawad Khan, Spokesperson for Mustehkam Pakistan, an advocacy firm for curbing illicit trade and tax evasion in…
Onic, the new digital telco brand in Pakistan and Careem, the leading ride-hailing platform in Pakistan, are thrilled to announce the signing of a Memorandum of Understanding (MoU) to foster a strategic partnership to build a digital ecosystem for respective consumers in the country. The MoU was signed by Omer Bin Tariq, Country Head, Onic Pakistan, and…
Mobilink Bank, Pakistan’s leading digital microfinance bank, has reaffirmed its commitment to women’s financial inclusion with the launch of the country’s first “Center of Excellence for Women” in partnership with Arid Agriculture University, a leading agricultural institution in Pakistan, to advance financial education. In this joint endeavor, Mobilink Bank will serve as the exclusive financial…
Secure Logistics Group becomes the first IPO in the logistics sector on the main board of the Pakistan Stock Exchange (PSX). The issue size of PKR 600 mn was oversubscribed with a strike price of PKR 12/share. Well-rounded participation was observed with strong participation from institutions (76%) and high net-worth individuals (24%). Amongst institutions, financial…
The State Bank of Pakistan’s (SBP) latest Business Confidence Survey reveals a slight decrease in overall confidence across various sectors in March 2024. The Business Confidence Index (BCI) fell by 1.0 points to 51.7, with both the Industry and Services sectors contributing to the decline. Current Business Conditions Weaken The survey highlights a weakening in…
Secure Logistics Group Ltd IPO’s book building phase will be held on 27th and 28th March where high net worth individuals and institutional investors will subscribe to 100% per cent of the issue size (50 million shares). The book building will start at the floor price of Rs 12 per share. Based on the interest…
Today, Prime Minister Shehbaz Sharif presented awards to 65 leading exporters and compliant taxpayers in a ceremony held at the PM Office. Among the recipients, Mr. Tariq Rafi, the Chairman of Siddiqsons Group, was recognized as the 4th highest taxpayer by the Prime Minister. Established in 1959, Siddiqsons Group has excelled in various sectors including…
In a notable development, the International Monetary Fund (IMF) has urged Pakistan’s Federal Board of Revenue (FBR) to discontinue the practice of granting preferential treatment to specific sectors and enforce uniform taxation policies across the board. This call for equitable taxation aligns with the IMF’s broader objectives of promoting fiscal sustainability and economic transparency within…
In the latest update on currency markets, the Pakistani rupee has shown a slight gain against the US dollar during intraday trading. This marginal uptick comes amidst ongoing fluctuations in market dynamics and economic uncertainties. Key Points: Current Exchange Rate: The Pakistani rupee has experienced a modest increase in value against the US dollar in…
