Business

The National Database and Registration Authority (NADRA) hosted a Financial Sector Stakeholders’ Conference at its Headquarters in Islamabad. The conference brought together key stakeholders and representatives of Pakistan Fintech Network (PFN) including Digital Banks, Electronic Money Institutions (EMIs), Non-Banking Financial Institutions (NBFIs) and Securities and Exchange Commission of Pakistan (SECP).…

Global rating agency Moody’s has upgraded Pakistan’s local and foreign currency issuer and senior unsecured debt ratings to Caa2 from Caa3. According to the one of the top international rating agencies, the upgrade to Caa2 reflects Pakistan’s improving macroeconomic conditions and moderately better government liquidity and external positions, from very…

Packages Limited, in collaboration with SAP Pakistan, has announced a groundbreaking achievement as the first company in Pakistan to sign a sustainability deal with SAP. This initiative aims to catalyze the adoption of SAP sustainability solutions among export-related industries across Pakistan. By leveraging verified and actionable data, these industries can…

Minister for Industries and Production Rana Tanveer Hussain says government is paying special attention on agriculture sector to drive national economy on growth trajectory. Talking to the newsmen in Lahore today, he emphasized that agriculture is the top priority of government. He said the production and export of rice and…

Prime Minister Shehbaz Sharif has expressed Pakistan’s desire to promote trade relations with Turkiye. Talking to a high level delegation of leading Turkish businessmen led by Turkiye’s Minister for Customs & Trade Omer Bolat in Islamabad, he said steps are being taken on a priority basis to bring the trade…

Governor of the State Bank of Pakistan (SBP), Mr. Jameel Ahmad, emphasized the importance of developing skills and setting high standards for the financial sector in the country. He addressed the audience at the launch ceremony of NIBAF Pakistan; a new entity formed by the merger of the National Institute…

Finance Minister Senator Muhammad Aurangzeb has stressed need for effective projects to address climate change challenges. Addressing “Climate Action for Pakistan” event organized by Acumen Pakistan in Islamabad today, he highlighted that climate change is an international issue impacting many regions. Finance Minister stressed that private sector to play pivotal…

Faysal Bank has announced the launch of its ‘Faysal Islami Amal Women Digital Account’. This account has been developed keeping in line with the State Bank’s agenda of financial inclusion. With a considerable percentage of Pakistan’s female population being financially excluded the digital account access represents Faysal Bank’s commitment towards…

Ambassadors and diplomats from various countries were unison to honor Zafar Bakhtawari of their countries highest civil awards for his unparalleled contributions in fostering Pakistan’s relations with their countries. At a dinner reception hosted in honour of prominent business leader, former President Islamabad Chamber of Commerce and Industry and Secretary…

Pakistan Beverage Limited (PBL), a frontrunner in the Beverage industry, has achieved a groundbreaking digital transformation by implementing SAP’s S/4HANA on-premise solution. This significant move towards an on-premise solution is a testament to PBL’s commitment to innovation and growth, setting a benchmark within the industry. The transition, executed entirely in-house,…

Minister for Finance Muhammad Aurangzeb has inaugurated the Central Secretariat for Tajir Dost Scheme at Regional Tax Office Lahore. The RTO Lahore provided a comprehensive briefing to the Minister on the Scheme’s operations and impact. The Finance Minister appreciated the performance of Tajir Dost Scheme in Lahore and stressed the…

Pakistan has witnessed a remarkable surge in the exports during the financial year 2023-24 due to concerted efforts of Special Investment Facilitation Council (SIFC). According to the data released by the Pakistan Bureau of Statistics, Pakistan’s merchandise exports rose by 10.54 percent to 30.64 billion dollars in financial year 2023-24.…

The Convener Chairman of the Federation of Pakistan Chambers of Commerce and Industry’s Standing Committee on Corporate and Multinational Companies Affairs, Muhammad Shafique Swati, said that promoting investment is crucial for Pakistan’s prosperous future. He emphasized that internal stability, development, and infrastructure improvement can attract investors to Pakistan. Through business…

Special Investment Facilitation Council has reiterated its commitment to support the automotive industry. As a result of its facilitation, Pak Suzuki has started exporting vehicles to Bangladesh and Afghanistan. CEO of Pak Suzuki Hiroshi Kawamura said this showcases the quality and competitiveness of Pakistani-made vehicles in the international market. Meanwhile,…

The federal government on Wednesday reduced the petrol price by Rs6.17 per litre for the next fortnight after a drop in oil rates in the global markets, according to a statement issued by the PM Office. The new prices will be effective from August 1. The Oil and Gas Regulatory…

Finance Minister Muhammad Aurangzeb has reiterated the government’s commitment to support Gilgit-Baltistan’s development for overall economic growth. He was chairing meeting of the committee on the issues of Gilgit-Baltistan in Islamabad today. The meeting was attended by Minister for Kashmir Affairs and Gilgit-Baltistan Amir Muqam, Gilgit-Baltistan Finance Minister Muhammad Ismail,…

Prime Minister Shehbaz Sharif has said a strategy is being implemented to attract the Foreign Direct Investment (FDI) for building Information Technology (IT) infrastructure. Talking to a three-member delegation of Asia Internet Coalition led by Managing Director Jeff Paine in Islamabad today, he said the government is working on the…

There has been an increase of seventeen percent in foreign direct investment in the country due to business friendly policies by Special Investment Facilitation Council. According to the data released by the State Bank of Pakistan, foreign investment touched 1.9 billion dollars during the fiscal year 2024. Foreign direct investment…

Fitch Ratings has upgraded Pakistan’s Long-Term Foreign-Currency Issuer Default Rating to ‘CCC+’ from ‘CCC’. According to Fitch, the upgrade reflects greater certainty over continued availability of external funding, in the context of Pakistan’s staff-level agreement with the IMF on a new 37-month seven billion dollars Extended Fund Facility. It said…

Finance Minister Muhammad Aurangzeb says Pakistan’s upgraded sovereign credit rating under Fitch’s recent report is the reflection of our efforts to achieve macroeconomic stability during last couple of months. Addressing media in Islamabad today, he said the process of tabling the Staff Level Agreement with IMF played a crucial role…

Minister for Privatization Abdul Aleem Khan has emphasized the immediate need for a transparent privatization process within the specified time frame. Chairing a meeting of the Privatization Commission Board today, he said privatization plays a crucial role in the country’s economic development. Abdul Aleem Khan said enterprises transitioning to the…