Business

Increased tobacco taxation is a win-win situation for the government and people of Pakistan provided that the government remains steadfast on its decision of increasing tobacco taxation. This arguments was raised during an event organized by Society for the Protection of the Rights of the Child (SPARC) with Federal Board…

The documented tobacco sector in Pakistan is experiencing a significant decline in sales, resulting in a loss of billions of rupees to the national exchequer. Concurrently, the illegal cigarette market is witnessing a surge, causing severe damage to the government’s tax collection target for the fiscal year 2022-23 and undermining…

The Securities and Exchange Commission of Pakistan (SECP) and Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) will be hosting the inaugural conference on Islamic Capital Markets (ICM), in Islamabad on Monday, May 29, 2023. The theme of the conference is “ICM development with ecosystem completion: innovation, growth, and…

Health activists urged the government to be wary of the misleading tactics of tobacco industry which causes substantial loss to national exchequer each year. During an event organized by Society for the Protection of the Rights of the Child (SPARC) in collaboration with Social Policy and Development Centre (SPDC), health…

The Securities and Exchange Commission of Pakistan (SECP) held a capacity building workshop for journalists at its Head Office today, apprising them about SECP’s efforts on promoting Islamic finance and encouraging innovation within its regulatory domain. The session was attended by leading journalists from print and electronic media. Ms. Musarat…

Ministry of Economic Affairs has clarified news circulating on media regarding the Financing received by Pakistan from July 2022 to April 2023. In a statement issued by the Ministry, it said that in some sections of the press, it has been reported that Pakistan has received 8.1 billion dollars in…

The first-ever Pak-China Business Forum on Industrial Relocation and Technology Transfer was held at Pakistan Embassy in Beijing. The event was organized by the DEA Group of Companies, based in Pakistan and the UAE with a vision to facilitate global collaboration and promote economic growth. The CEO of DEA Group…

Health activists urged the government to remain steadfast on its decision of increasing tobacco taxation in order to generate more revenue for the national exchequer. During an event organized by Society for the Protection of the Rights of the Child (SPARC), health activists presented a Simulation Model on Tobacco Taxation…

The Government on Monday signed a Debt Service Suspension Agreement with Republic of Korea to deferment of payment of loans worth 19.911 million dollars, under the G-20 Debt Service Suspension Initiative framework. According to a press release issued by the Economic Affairs Division, this amount, initially had to be repaid…

Dr. Foziya Amin, Minister of State for Innovation and Technology of Ethiopia has said that there are vast opportunities of cooperation between Ethiopia and Pakistan in various fields including economy, IT, science, technology and stressed that they should take full benefit of them. She said that Pakistan is an important…

Syed Naveed Qamar, Federal Minister for Commerce said that the role of business community is very important in steering the economy out of current crisis and said that the government would take all possible measures for ease of doing business to facilitate them in business development. He lauded the efforts…

Asian Development Bank (ADB) has expressed its strong commitment to help Pakistan to build the much-needed climate-resilient infrastructure. The assurance was given by the Bank’s Director General of Central and West Asia Department Yevgeniy Zhukov while talking to APP in the South Korean city of Incheon. He said a lot…

In a recent development, JazzCash and CBA (Community business agent) have formed a partnership to provide Cash-In and Cash-Out services to JazzCash customers through CBA’s retail network. This collaboration is expected to have a significant impact on the digital financial services industry in Pakistan, making it more convenient and accessible…

Health activists have appreciated government’s stance on increased tobacco taxes. During an event organized by Society for the Protection of the Rights of the Child (SPARC), health activists stated that this decision will help Pakistan’s economy provided that the government remains steadfast by not falling to tobacco industry’s misinformation campaign.…

Finance Minister Muhammad Ishaq Dar has offered Japanese companies for investment in diverse sectors of Pakistan besides welcoming their investment plans. He was talking to Ambassador of Japan Mitsuhiro Wada, who called on him in Islamabad today.   The Finance Minister briefed the Ambassador about the economic challenges and priorities of…

Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce & Industry (ICCI) said that he will continue to serve the business community with sincerity and enthusiasm to provide them with maximum facilitation in promoting business activities. He said this while addressing the swearing-in ceremony of newly elected Office Bearers of Pakistan…

The power sector of Pakistan is a mess and requires comprehensive and swift governance and policy reforms. Some of these include development of business models to boost renewable energy; liberalization of the energy market through deregulation and privatization, renegotiations of generation tariffs for independent power producers, segregation and deregulation of…

Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry (ICCI) along with a delegation visited Fruit & Vegetable Market and held a meeting with Chairman Sajid Abbasi, Vice Chairman Safdar Siddique, Member Tahir Ayub and other members of the ICT Market Committee to discuss matters of mutual interest. Ahsan…

BankIslami Pakistan Limited (‘the Bank’ or ‘BankIslami’) announced its financial results for the quarter ended March 31, 2023 registering a notable increase of 262% in profit before tax i.e. Rs. 3.16 billion as compared to Rs. 0.87 billion for corresponding period of last year. Profit after tax closed at Rs.…

A Memorandum of Understanding was signed between Zarai Taraqiati Bank Limited (ZTBL) and Sustainable Development Policy Institute (SDPI) to collaborate for the promotion and adoption of latest/novel technologies, practices, and techniques for improving agricultural productivity and livelihood of rural communities. Both the institutions will jointly organize webinars, field days, seminars,…

The Economic Coordination Committee has approved technical supplementary grants worth over 912 million rupees. The approval to this effect was granted during a meeting of ECC that was held in Islamabad on Thursday with Minister for Finance and Revenue Senator Mohammad Ishaq Dar in the chair. The Committee approved technical…