Pakistan is on the brink of securing the final tranche of $1.1 billion from the International Monetary Fund (IMF), marking a significant step forward in the ongoing financial assistance program. The imminent disbursement of this tranche reflects the country’s adherence to the terms and conditions set by the IMF, demonstrating commitment to economic reforms and…
Zong 4G, Pakistan’s leading telecommunication organization Zong 4G, has collaborated with BaKhabar Kisan to facilitate seamless communication between the Farmers and Agri Experts to make informed and timely decisions, maximize yield and financial benefits to their livelihoods. BaKhabar Kisan is a comprehensive agricultural knowledge platform for farmers throughout Pakistan offering expert guidance on weather, crop…
In a significant announcement, the Chairman of the Federal Board of Revenue (FBR) has stated that the anticipated reforms within the FBR will be implemented under the auspices of the incoming government. This revelation outlines the strategic approach and commitment of the FBR in reshaping tax-related policies and administration to foster a more efficient and…
In a recent development, the government is contemplating a potential reduction in the tariff for solar net metering. This consideration has significant implications for individuals and businesses engaged in solar energy generation and could impact the overall dynamics of the renewable energy sector in the country. The exploration of a reduction in solar net metering…
In a recent development, the rates of profit on National Savings Schemes (NSS) have experienced another decrease. This adjustment in rates impacts investors participating in NSS, signaling a shift in the financial landscape that could influence investment decisions and preferences. The reduction in rates on NSS underscores the dynamic nature of financial markets, where factors…
In a concerning trend, power generation in Pakistan continues to experience a decline, coupled with a notable increase in fuel costs. The month of January 2024 witnessed a 23% surge in fuel expenses, posing challenges to the country’s energy sector and raising questions about the sustainability of power production. The decrease in power generation, combined…
In a proactive move, the Federal Board of Revenue (FBR) has extended an invitation for proposals pertaining to customs-related budget considerations for the fiscal year 2025 (FY25). This initiative underscores FBR’s commitment to engaging stakeholders and incorporating diverse perspectives in the formulation of customs policies that align with the economic landscape of the country. The…
In a noteworthy development, Pakistan has experienced a substantial surge in foreign investment outflow, marking a five-year high. This trend raises significant concerns and points to a shift in the investment landscape of the country. The recent data indicates a substantial increase in the outflow of foreign investments from Pakistan, depicting a challenging scenario for…
Engro Fertilizers welcomes the fact that the government has taken a bold first step by removing the subsidy for fertilizer manufacturers that get their gas from the SNGPL network, which represents 60% of all fertilizer manufacturing capacity. They have done that by increasing the feed stock prices from PKR 580/mmbtu to PKR 1,597/mmbtu, almost a…
The Board of Directors of Meezan Bank, has approved the financial statements of the Bank and its consolidated financial statements for the year ended December 31, 2023. The meeting was chaired by Mr. Riyadh S.A.A. Edrees – Chairman of the Board, Mr. Faisal A. A. A. Al – Nassar – Vice Chairman of the Board…
