In a monumental achievement, Pakistan has set a new record for its monthly IT exports, reaching an unprecedented high of $303 million in December 2023. This milestone not only underscores the robust growth of the country’s Information Technology sector but also highlights its increasing significance in the global digital economy. The remarkable surge in IT…
In a remarkable economic upswing, the Foreign Direct Investment (FDI) in Pakistan has experienced an extraordinary surge, witnessing a staggering 538% increase in the month of December 2023. This unprecedented growth in FDI signals a robust vote of confidence from international investors in Pakistan’s economic potential and the conducive environment for foreign investments. The notable…
In a pivotal decision, the shareholders of Telecard Limited have granted their approval for the sale of an 81.8% stake in Supernet, a subsidiary, to Hallmark Technologies. This strategic move signifies a significant restructuring within the Telecard corporate framework, aligning with the company’s vision and strategic objectives. The resounding approval from Telecard shareholders underscores their…
In a positive economic development, Pakistan has recently achieved its highest current account surplus in five months, signifying a noteworthy turnaround in the country’s external economic indicators. This surge in the current account surplus is indicative of improved economic resilience, prudent fiscal policies, and effective management of external trade dynamics. The latest data underscores a…
A momentous achievement in Pakistan’s media industry unfolds as a cutting-edge, fully self-serve media buying platform is unveiled, setting new benchmarks for efficiency and transparency in digital advertising. This groundbreaking development marks a pivotal moment for advertisers, media agencies, and businesses nationwide. Crafted by a consortium of industry leaders, AdPluto is a fully automated platform…
Khushhali Microfinance Bank Limited (KMBL), the first-specialized microfinance bank in Pakistan, commemorated its achievement for the fiscal year 2023 (FY 2023). The newly established recovery unit of the microfinance bank has set new benchmarks, achieving a milestone of over PKR 01 Billion in recoveries from the charge-off portfolio through its newly established recovery unit and…
Pakistan’s power sector is currently undergoing substantial reforms. These initiatives, collectively referred to as “Power Sector Reforms,” aim to address critical challenges, enhance efficiency, and create a sustainable and transparent energy framework in the country. The impetus behind these Power Sector Reforms lies in the commitment to meeting the conditions set forth by the IMF,…
In a strategic move, Hub Power Company Limited (Hubco) is set to acquire shares of Sindh Engro Coal Mining Company Limited (SECMC). This significant development marks a key collaboration in the energy sector, combining the strengths and resources of two major players to further enhance the efficiency and sustainability of coal mining operations in Pakistan….
Meezan Bank, Pakistan’s leading Islamic bank has recently launched Meezan Justuju – a fully funded talent development program for fresh graduates in collaboration with IBA-CEIF (Institute of Business Administration – Centre for Excellence in Islamic Finance). The Program’s initial screening, conducted through a written test at Meezan House, received an overwhelming response, attracting participants from…
In a concerning turn of events, Pakistan’s circular debt has reached an unprecedented milestone, surpassing Rs 5.7 trillion. This alarming surge raises critical questions about the economic challenges faced by the country, as circular debt continues to be a persistent and escalating issue. The burgeoning debt, now exceeding Rs 5.7 trillion, is a matter of…
