Business

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.…

Faysal Bank Limited (FBL)’s WhatsApp Banking Application has been honoured with the ‘Best Digital API’ Award at the Pakistan Digital Awards 2024. FBL’s WhatsApp Banking offers industry-leading User Interface (UI) and User Experience (UX). It comprises of a host of unique banking services revolutionising the way customers interact with their…

Faysal Islami Currency Exchange Co. (FICEC), a wholly owned subsidiary of Faysal Bank Ltd. (FBL) officially commenced operations in ten cities, marking a significant development for Pakistan’s financial sector. The inaugural ceremony was graced by Mr. Yousaf Hussain, President & CEO FBL, Mr. Syed Muhammad Fraz Zaidi, Chairman, FICEC. Mr.…

Presenting the budgetary proposals, Finance Minister said inflation is expected to remain 12 percent and budget deficit 5.9 percent of GDP. He said that 9,775 billion rupees have been earmarked for interest payment. Muhammad Aurangzeb said 1,400 billion rupees have been earmarked for Public Sector Development Programme 2024-25. He said…

The Federal Budget 2024-25 with a total outlay of 18877 billion rupees has been announced with focus on fiscal consolidation and relief measures for the common man. Presenting the budgetary proposals in the National Assembly this afternoon [Wednesday], Finance Minister Muhammad Aurangzeb said the gross revenue receipts have been estimated at 17815…

Minister for Finance Muhammad Aurangzeb has said the real GDP has posted a positive growth of 2.38 percent during the outgoing fiscal year as against the negative growth of the last year due to the prudent policy measures. Launching Economic Survey 2023-24 in Islamabad this evening, he said the robust growth…

The World Bank has approved one billion dollar additional financing for Pakistan to support Dasu Hydropower Project and the transition to clean and affordable energy. A decision to this effect was take in the World Bank’s Board of Executive Directors in Washington. According to a statement of the Bank, this…

Special Investment Facilitation Council has played a pivotal role ever since its establishment in providing a favorable environment to investment and business promotion in the country. Among the most important step taken is the provision of facility for investors in the IT sector to repatriate up to fifty percent of…

Pakistan Ambassador to China Khalil Hashmi says Chinese companies have shown great interest in Pak-China Business Conference. In his briefing regarding the conference, the Ambassador said around 700 hundred renowned Chinese companies have registered themselves to participate in the conference. He said Prime Minister Shehbaz Sharif will deliver his keynote…

Mondelez Pakistan has partnered with Shams Power to solarize its confectionary and powdered beverages plants and to take the installed capacity to around 2.2 MW of Solar on both sites. This initiative aims to enhance sustainability and reduce carbon emissions. Shams Power will install the equipment, manage the operation and…

Inflation in the country continues to fall while rupee witnesses stability against dollar for another consecutive month. According to the recent economic figures, government’s prudent economic policies have decreased the inflation rate to 11.8 percent during the month of May that is 3.2 percent lower than the previous month. It…

A day-long seminar is being organized by Special Investment Facilitation Council’s Green Pakistan Initiative at Pir Mehr Ali Shah Arid Agriculture University in Rawalpindi on Tuesday. The objective of this seminar is to educate the participants about  Plant for Pakistan project  and to encourage the youth to be a part…

Member National Assembly Mohammad Hanif Abbasi while addressing a seminar entitled ‘ Education Emergency and our Responsibilities’ organized by Islamabad Chamber of Commerce and Industry has said that education plays an important role in the development of individuals as well as of society at large and no development is possible…

The Speakers at a pre-budget consultative session on Monday demanded the government to ensure a dedicated track and trace system to bring the retailers, and businesses from the informal sectors with progressive taxes into the tax net to generate revenue from untaxed sectors. The Sustainable Development Policy Institute (SDPI) organized…

Overseas Investors Chamber of Commerce and Industry (OICCI), and Shell Pakistan Limited jointly hosted the Pakistan Energy Symposium. This significant event was produced by the Nutshell Group and took place at a local hotel. The Pakistan Energy Symposium – ‘Powering the Future’ brought together public stakeholders, policymakers, thought leaders, and…

Pakistan and Turkiye have decided to take the volume of their bilateral trade to five billion dollars. The understanding came at delegation level talks between the two countries in Islamabad on Monday. Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar represented the Pakistani delegation while the Turkish side was…

Pakistan Banks’ Association (PBA) held a meeting with the Federal Minister for Finance & Revenue, Mr. Muhammad Aurangzeb. The meeting focused on enhancing support by the banks for the three key sectors of Agriculture, Small and Medium Enterprises (SMEs), and Digital & Technology in Pakistan. The discussion underlined the banking…

Prime Minister Shehbaz Sharif says the government is extending maximum support to foreign investors and business community, enabling them to play their due role in job creation, exports growth and economic development. He was talking to a delegation of international beverages companies, which called on him in Islamabad today. The…

Experts at a consultative dialogue on taxation policies in the country’s steel sector on Thursday said there is need of complete change in approach towards taxation policies at this point in time when the country’s industry is facing deep crisis due to factors beyond industry’s control – a situation forced…

Special Investment Facilitation Council (SIFC) is endeavoring for introducing reforms in the Federal Board of Revenue (FBR), expanding the tax base, and implementing a robust track and trace system. With the country’s tax collection potential estimated at twenty-four trillion rupees, the current target of nine trillion rupees highlights systemic challenges…

Former Provincial Minister and Patron-e-in Chief United Business Group S.M. Tanveer has said that country is passing through the challenging time and industries are being closed whereas the neighboring country Afghanistan is strengthening its economy by promoting its industrial and textile sectors. He said that we have to vigorously pursue…