Business

International Monetary Fund and Pakistan have reached a staff-level agreement on a 37-month Extended Fund Facility Arrangement (EFF) of about seven billion dollars. This agreement is subject to approval by the IMF’s Executive Board. According to the international lender, the new program aims to support Pakistani authorities’ efforts to cement…

Pakistan and Azerbaijan have agreed to enhance bilateral trade and investment relations. On the sidelines of the visit of the President of Azerbaijan to Pakistan, a high-level official delegation from Azerbaijan held meeting with the Pakistan side. The Pakistani side, led by Minister for Petroleum Dr. Musadik Malik, briefed about…

A meeting of the Advisory Committee meeting on the “Release of International Mobile Telephony (IMT) Spectrum for Improvement of Next Generation Mobile Broadband Services in Pakistan” was held in Islamabad today. Finance Minister Muhammad Aurangzeb chaired the meeting while Minister of State for IT and Telecommunication Shaza Fatima Khawaja, Chairman…

Raqami Islamic Digital Bank Pakistan, a visionary digital financial institution, and Paysys Labs Pvt Ltd, a leading payment technology provider, today announced a strategic partnership to transform Pakistan’s digital payments landscape. The collaboration aims to develop an innovative digital payment solution integrating real-time payment systems such as RAAST. Paysys Labs,…

Due to efforts of Special Investment Facilitation Council (SIFC), the tourism sector is poised to generate revenue exceeding 30 billion dollars during next five to six years. The ‘Green Tourism Company’ established in collaboration with SIFC has invested in dilapidated tourism to revive it them for promotion of Pakistan’s status…

Made in Pakistan exhibition under the aegis of National Logistic Corporation  was organized in Uzbekistan’s capital Tashkent. Over eighty corporate logistics companies participated in this three-day event A large number of government, business and industry sector representatives of Pakistan and Uzbekistan participated in the event. During the exhibition, the participants…

Special Investment Facilitatoin Council has taken various policy initiatives for the promotion of mining and minerals sector in the country. Mines and Minerals Division has been set up by the government to accelerate mining activities, which will boost the sector. Reko Diq Mining Company  has taken practical steps for vocational…

Raqami Islamic Digital Bank, one of the most prominent upcoming Islamic digital banks in Pakistan, has selected BenchMatrix’s proprietary solution, RiskNucleus® as its Anti-Money Laundering (AML) transaction monitoring solution. This selection will empower Raqami to leverage innovative technology and advanced automation for a more intelligent approach to financial crime detection.…

Finance Minister Muhammad Aurangzeb has said the economic stability in Pakistan has revived the trust of international institutions. Addressing a press conference in Islamabad today, he said that the country’s economy has significantly improved with the prudent economic policies of the government. He said that with the prudent economic policies…

The AJK Legislative Assembly in its session held in Muzaffarabad today approved the budget for the fiscal year 2024-25. All thirty-two demands for grants of expenses for next financial year relating to different departments amounting to 264.3 billion rupees have been approved already in addition to 32 demands for grants…

The Ministry of Commerce, Government of Pakistan, Trade Development Authority of Pakistan, and the Embassy of Pakistan in Tashkent are organizing the first ‘Made in Pakistan’ Exhibition from 28-30 June with the cooperation of the Government of Uzbekistan. Made in Pakistan Exhibition, Tashkent is an initiative under the Regional Connectivity…

The National Assembly has approved one hundred and three demands for grants pertaining to different ministries and departments for the next fiscal year. These were moved by Minister for Finance Muhammad Aurangzeb. No cut motions were moved on these demands for grants. These were related to Defense Division, Communications, Federal…

Pakistan’s Ambassador to the US Masood Khan has invited American entrepreneurs and corporate leaders to make investments in Pakistan in the areas of IT, energy, agriculture and mineral extraction. During his interaction with the US corporate leaders, entrepreneurs and business executives in Washington DC, he said Pakistan’s market has remained…

Finance Minister Muhammad Aurangzeb has said the budget for the next fiscal year is aimed at reducing fiscal deficit by focusing on measures that enhance the government’s revenues and reduce unnecessary expenditures. Winding up discussion on the budget 2024-25 in the National Assembly today, he said on the directions of…

The Embassy of the Republic of Indonesia in Islamabad in collaboration with COMSTECH jointly organize the international seminar on “Sustainability of Palm Oil Industry and its Derivative Products” at COMSTECH Auditorium, Islamabad . The international seminar aimes to raise more awareness of the sustainability of the palm oil from Indonesia…

Special Investment Facilitation Council (SIFC) is playing a pivotal role in bringing to use the country’s mineral resources. Many foreign investors have shown interest in the Reko Diq project. The signing of mutual partnership projects between Saudi Arabia and Pakistan is also part of this process. A separate division has…

A delegation of Pakistan Business Council led by its Chairman Shabbir Diwan called on Minister for Finance and Revenue Senator Muhammad Aurangzeb at Finance Division today. Minister of State for Finance and Revenue Ali Pervez Malik, Chairman of the Federal Board of Revenue Malik Amjed Zubair Tiwana also attended the…

Balochistan government has allocated three hundred and twenty one billion rupees for Annual Development Programme in next fiscal year budget. Minister for Finance Mir Shoaib Nosherwani addressing the post budget news conference in Quetta today said that all available resources would be utilized to increase revenue collection. He said government…

S&P Global, a provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets is proud to celebrate its 19th anniversary of operations in Pakistan this month. Since its establishment in 2005, S&P Global Pakistan has been at the forefront of providing essential intelligence…

In a swift response to the government’s recent fiscal measures, the Pakistan LPG Market Association (PLMA) through its Vice Chairman Mr. Muhammad Ali Haider has vehemently rejected the significant increase in the Petroleum Development Levy (PDL) and the new 18% General Sales Tax (GST) on imported LPG. The association is…

Regional and country desks have been established in the Special Investment Facilitation Council Secretariat to accelerate the process of attracting foreign direct investment in the country. Six regional and country desks have been established to focus on the needs of foreign capital investment, which will be self-sufficient in all respects.…