In a strategic move, the FBR has finalized a groundbreaking scheme to impose sales tax on retailers in prominent cities like Islamabad, Karachi, Lahore, Peshawar, and Quetta. FBR finalized this initiative in anticipation to significantly boost revenue, with FBR sources projecting an initial yield of Rs. 100 billion from retailers in major cities. This figure…
Bank Alfalah Limited, one of the leading commercial banks in Pakistan, achieved two significant milestones with the launch of its 1000th branch and the surpassing PKR 2 trillion deposits, reflecting its enduring commitment to growth and further solidifying its position as a leading financial institution in the country’s banking sector. The launch of the 1000th…
In a move to streamline agreements with foreign deals, including governments, the government has recently issued comprehensive guidelines. These guidelines focus on agreements and memorandums of understanding (MOUs) with foreign governments or private entities not covered by the existing Rules of Business, 1973. The Cabinet Division acknowledged a recurring influx of queries pertaining to agreements…
The Special Investment Facilitation Council (SIFC) convened the 8th meeting of its Apex Committee to review various projects and initiatives being pursued through the platform of SIFC. Members decided to take action against smugglers, hoarders, and market manipulators, which have impacted the economic trajectory. The meeting was chaired by the Prime Minister and attended by…
In a surprising turn of events, the Premium Smartphone market has witnessed remarkable growth in 2023, defying expert predictions, according to a recent report by Counterpoint Research. The in-depth analysis, based on preliminary Q4 2023 data, reveals a noteworthy trend – sales of smartphones priced above $600 have experienced an impressive 6% year-over-year growth rate….
In a significant move, the Competition Commission of Pakistan (CCP) has granted approval for a merger in the deep-sea container liner shipping services market. The approved merger involves M/S. PIL Holdings Pte. Ltd. acquiring a minor shareholding in M/s. PIL Pte. Ltd., both registered entities in Singapore. PIL Pte. holds an indirect subsidiary in Pakistan…
In a significant move aimed at preventing the rampant issue of financial exploitation through online loan scams, the Securities and Exchange Commission of Pakistan (SECP) has implemented stringent regulations for Easy Loan Apps. At a workshop in Islamabad on Tuesday, SECP officials disclosed their proactive approach to address online scams, particularly those targeting individuals with…
In December 2023, cement sales in Pakistan experienced a notable uptick of 4.6% compared to the same period the previous year, as reported by the All Pakistan Cement Manufacturers Association. The industry dispatched a total of 4.06 million tons during the month, showcasing a significant increase from the 3.881 million tons dispatched in December of…
Embracing innovation in stock market oversight, the Securities and Exchange Commission of Pakistan (SECP) has unveiled a homegrown application designed for in-depth stock market surveillance and data analysis. This groundbreaking development comes as the SECP takes a proactive stance on market monitoring, leveraging modern tools and systems for efficient analysis. The SECP’s market surveillance team…
In a bid to protect consumers from deceptive marketing tactics, the Competition Commission of Pakistan (CCP) is taking decisive action against shoe and clothing brands that trick customers with fake discounts. As the seasonal surge in discounts continues, the CCP urges brands to provide transparent and visible disclosures of both actual and discounted prices to…
