In a concerning trend, Pakistan’s public debt has witnessed a substantial surge, escalating by Rs 4 trillion within a span of 7 months. This surge is attributed to the ongoing trend of extensive government borrowing, raising questions about the sustainability and management of the country’s overall debt profile. Key Developments: Magnitude of Increase: The staggering…
In a notable development, Pakistan has emerged as the next big opportunity for insurance companies seeking expansion and growth. This recognition underscores the country’s evolving economic landscape, presenting a favorable environment for insurance services to thrive. Key Highlights: Strategic Market Potential: The acknowledgment of Pakistan as the “next big thing” signals the strategic market potential…
In a significant directive, the Prime Minister has instructed the formulation of a comprehensive strategy aimed at cutting government expenditure and modernizing the Federal Board of Revenue (FBR). This move underscores the government’s commitment to fiscal responsibility and enhancing the efficiency of revenue-generating entities. Key Points: Strategic Imperative: The Prime Minister’s directive emphasizes the strategic…
In a strategic move, both the federal and Punjab governments are gearing up for a major transition to a new pension system, set to be implemented by July. This shift marks a significant reform in the existing pension structure, aiming to enhance efficiency, transparency, and sustainability in the administration of pension schemes for government employees….
In an inspiring keynote address at the IBA Leaders Connect event, Mr. Hussain Dawood – Chairman, of Engro Corporation and Dawood Hercules Corporation, emphasized the importance of human development based on the values of Character and Good Manners (CGM). “We’re Pakistanis, and we’re going to fight for our country. And the way to do it,…
In a significant development, the Prime Minister has given directives to initiate the process of contacting the International Monetary Fund (IMF) with the aim of securing a more substantial bailout package. This strategic move underscores the government’s proactive approach to addressing economic challenges and ensuring financial stability. Key Points: Strategic Decision: The decision to approach…
In its 25th year of operations in Islamabad, Emirates Airline has stepped up to support children in the local community by teaming up with SOS Children’s Village Islamabad. The airline collaborated with the charity organization to provide much-needed blankets to the orphaned students and their caretakers. Emirates’ charitable initiative, led by Salem Al Mana, Emirates’…
Following the increase by FFBL of PKR 1350/bag, Engro Fertilizers has also adjusted urea rates by PKR 785 per bag including FED. Compared to a 175% increase in gas prices for the fertilizer sector on SNGP and SSGC networks, Engro has only increased 23% the price of its urea bag. Gas tariff for fertilizer companies…
In a move aimed at promoting transparency and efficiency in the financial sector, the State Bank of Pakistan (SBP) has announced modifications to the reporting schedule for bank exchange rates. This decision reflects the central bank’s commitment to refining reporting mechanisms, ensuring accurate and timely information regarding currency exchange rates. Key Points: Enhanced Transparency: The…
In a significant economic development, foreign companies operating in Pakistan have experienced an extraordinary surge in profit repatriation, marking a staggering 44-fold increase in January 2024. This surge prompts a critical examination of the economic implications and the intricate dynamics between foreign enterprises and the host nation. Key Insights: Unprecedented Capital Outflow: The reported 44-fold…
