Business

Faysal Bank Limited (FBL) Pakistan’s leading Islamic Bank, has officially signed a Memorandum of Understanding (MOU) with The Citizens Foundation (TCF) to impart financial literacy to TCF students across Pakistan. The partnership was formalised today at a signing ceremony held at FBL’s Head Office, with Mr. Isfandyar Inayat, Vice President…

Finance Minister Muhammad Aurangzeb says the government is committed to structural reforms in core sectors of economy, including energy, SOEs, privatization, taxation and rightsizing of government. He was talking to a group of investors led by Barclays, who called on him in Islamabad today. The Minister briefed the delegation on…

With the facilitation of the Special Investment Facilitation Council, the government is set to attract more than twenty-seven billion dollars in foreign direct investment from Asian and European countries in the coming years. The main objective of this investment is to assist in stabilizing Pakistan’s economy through the development of…

The Competition Commission of Pakistan (CCP) continued its comprehensive Phase II Merger Review of PTCL’s acquisition of 100 percent shareholding in Telenor Pakistan (Private) Limited and Orion Towers (Private) Limited. The CCP’s bench was comprised of Chairman Dr. Kabir Ahmed Sidhu and Members Mr. Salman Amin and Mr. Abdul Rashid…

Muhammad Azfar Ahsan, former Minister for Investment, stressed the need for Pakistan to prioritize optimizing its existing investments, advocating for a strategy that focuses 80% on nurturing current investors rather than concentrating on attracting new investments. Azfar spoke at a special talk hosted by the China Pakistan Study Centre (CPSC)…

Pakistan and Denmark have signed an MoU for cooperation in the maritime sector. Minister for Maritime Affairs Qaiser Ahmed Sheikh signed the MoU on behalf of government of Pakistan. Danish Shipping Company Maersk will invest about two billion dollars in Pakistan’s maritime sector. Finance Minister Muhammad Aurangzeb, Minister for Commerce…

Finance Minister Muhammad Aurangzeb has expressed the confidence that the reduction in inflation will take the country from stabilization to growth path. Addressing the launching ceremony of Pakistan Economy Dashboard in Islamabad today, he said decline in inflation has surpassed all expectations, hoping it will continue to buttress the economy.…

Lemon, a trailblazer in the blockchain and digital payment landscape, is thrilled to announce a groundbreaking strategic partnership with Catfiz, a leading messaging and social platform. This exciting collaboration aims to significantly expand Lemon’s ecosystem by integrating Catfiz’s robust user base, welcoming over 5 million new users into Lemon’s cutting-edge…

The Government is working on increasing Ease of Doing Business in Pakistan to make it an attractive destination for foreign investment. In this regard, projects like Pakistan Single Window have been undertaken to provide one node solution to potential investors rather than hopping between various government departments for different permits.…

In a landmark move set to reshape the digital payments landscape in Pakistan, Faysal Bank Limited (FBL) has entered into a strategic partnership with Mastercard, a global leader in payment technology, and 1LINK, Pakistan’s leading domestic payment switch. The Memorandum of Understanding (MoU) was signed between Faysal Bank, Mastercard, and…

Punjab Senior Minister Marriyum Aurangzeb says Punjab’s shrimp farming model will serve as an exemplary project for other provinces. She stated this during the meeting with a delegation of Thai Union in Lahore on Friday. During the meeting, discussions were held on starting shrimp farming in Punjab, shrimp hatcheries, research,…

Faysal Bank Limited (FBL) is pleased to announce a new strategic partnership with the International Finance Corporation (IFC), a member of the World Bank Group, under IFC’s Global Trade Finance Program (GTFP). As part of this partnership, IFC will explore the possibility of establishing a trade finance guarantee facility for…

Pakistan and Belarus have agreed on transfer of agriculture technology from Belarus to Pakistan by establishing Belarusian agricultural machinery manufacturing plants in Pakistan. An understanding to this effect came during the seventh session of Pakistan-Belarus Joint Ministerial Commission in Islamabad.  The session was co-chaired by Federal Minister for Commerce Jam Kamal…

Coordinator to Prime Minister on National Health Services, Dr. Malik Mukhtar Ahmad has said the government aims to position Pakistan as a major producer of pharmaceutical products. Addressing Pharma Export Summit in Islamabad on Wednesday, he said the path forward is to create an eco-system that nurtures innovation and drive…

In recognition of his dedicated and unwavering services for the business community, Ahsan Zafar Bakhtawari, President Islamabad Chamber of Commerce and Industry has been elected as Chairman All Markets Unions of Islamabad. The meeting convened for the purpose by Raja Hassan Akhtar, President Blue Area elected Ahsan Zafar Bakhtawari as…

Earlier this month, K-Electric (KE), Pakistan’s only private utility firm, announced the receipt of seven bids for Pakistan’s first 220 MW hybrid wind/solar project in Dhabeji Sindh. Building up on the momentum, the company marked another important milestone with the opening of the financial bids at a private event in…

The Competition Commission of Pakistan (CCP) has approved internal restructuring involving M/s. Nishat Chunian Limited (NCL), M/s. Nishat Chunian Power Limited (NCPL), M/s. Nishat Mills Limited (NML), and the CEO of NCL, Mr. Shahzad Saleem. This internal restructuring, undertaken as part of the Scheme of Arrangement, aims to streamline the…

Pakistan’s exports recorded a significant increase of fourteen percent in the beginning of this financial year due to the support of Special Investment Facilitation Council (SIFC). According to the statistics, exports increased by 620 million dollars to reach 5.1 billion dollars in August. Due to increase in exports, the country’s…

Telenor Microfinance Bank (TMB), operator of Pakistan’s leading digital financial services platform, easypaisa, is proud to announce its double recognition at the renowned 21st Annual Excellence Awards by CFA Society Pakistan, having won the “Best Microfinance Bank of the Year 2023” and “Recognizing Gender Diversity at the Workplace Award 2024.”…

There have been new discoveries of oil and gas in the country due to the support of Special Investment Facilitation Council (SIFC). Twenty-six percent increase has been witnessed in crude oil reserves and two percent in gas reserves at the end of last fiscal year. According to the data released…

Turkmenistan is set to become the first Central Asian country to gain access to Gwadar port under China Pakistan Economic Corridor (CPEC). Pakistan and Turkmenistan will soon sign an agreement in this regard. The government has constituted a committee to examine the draft agreement between Gwadar Port and Turkmenbashi Port…