The PTA & Google has taken action against 120 loan lending apps/platforms based on Securities and Exchange Commission of Pakistan (SECP) recommendations. Of these, 111 have been removed from the Google Play store, PTA & Google efforts are underway to pursue the removal of the remaining apps with Google. The SECP regulates these applications under…
In a groundbreaking event in China, Huawei unveiled its Nova 12 series, featuring four cutting-edge smartphones: Nova 12, Nova 12 Lite, Nova 12 Pro, and Nova 12 Ultra. Explore the highlights of the Pro and Ultra models in this exclusive release. Nova 12 Ultra: Elevating Smartphone Excellence Huawei’s Nova 12 Ultra debuts a 6.76″ LTPO…
Explore the dynamic landscape of Pakistan’s microfinance sector in 2023, marked by shifts in major banks, acquisitions, mergers, and strategic exits. Delve into the sector’s resilience, challenges, and the entrance of new players, providing valuable insights into the future trajectory of microfinance in the country. The microfinance sector in Pakistan underwent significant transformations in 2023,…
The latest data from the Pakistan Telecommunication Authority (PTA) reveals a decline in cellular subscribers, 3G/4G users, teledensity, and Next Generation Mobile Service (NGMS) penetration in November 2023 compared to October 2023. Explore the detailed breakdown of these changes, with a specific focus on major telecom operators like Jazz, Zong, Telenor, and Ufone. Stay informed…
In November 2023, the Pakistan Telecommunication Authority (PTA) addressed 98.9% of the 14,471 consumer complaints lodged against various telecom operators, including cellular mobile operators (CMOs), PTCL, LDI operators, WLL operators, and ISPs. The data underscores the effectiveness of PTA’s consumer grievance resolution mechanisms, with a focus on enhancing the telecom user experience. Explore the breakdown…
Pakistan’s cash economy faces a substantial downturn, with documented currency in circulation (CiC) plummeting to Rs. 8.7 trillion, reflecting a noteworthy drop of Rs. 475 billion in informal cash transactions and business dealings since its peak on June 30, 2023. The shift is evident in the CiC as a percentage of the overall money supply…
In a remarkable turn of events, Pakistan’s witnessed a notable performance in its assets classes throughout 2023, reshaping the financial landscape for investors. Leading the charge was the benchmark KSE 100 Index, providing an impressive gain of 53% from January 01, 2023, till December 22, 2023, with four trading sessions yet to unfold. This exceptional…
In a strategic move poised for significant impact, Kickstart, a prominent co-working space in Pakistan, has successfully secured Rs. 200 million in funding from Vital Group. This substantial investment is earmarked for an extensive expansion of Kickstart’s footprint in central Karachi, marking a transformative phase for the collaborative workspace provider. Founded in 2016 by LUMS…
In a significant development, the Federal Board of Revenue (FBR) issues a stark warning to non-filers of income tax returns, outlining potential consequences such as imminent bank account suspensions and travel bans. Muhammad Asif, Chief of Broadening the Tax Base (BTB), underscores the critical need for non-filers to promptly register at their nearest tax office…
In 2023, Pakistan confronted formidable economic challenges, marked by a sharp slowdown, rising inflation, and a near-default scenario. Despite adversity, glimmers of progress emerged, hinting at a potential path to recovery. The government implemented stringent fiscal reforms, including tax hikes and subsidy cuts, aligning with International Monetary Fund (IMF) conditions. Positive indicators materialized in the…
