Fastest News Come First
Karachi: The Pakistan Business Forum (PBF) has urged the government to take swift and comprehensive measures for economic reform. The forum emphasized that these changes are crucial for achieving stability and long-term growth. Malik Khuda Baksh, President of PBF Karachi, highlighted the urgent need for steady economic management to steer Pakistan’s economy out of crisis. …
Continue reading “Pakistan Business Forum Calls for Immediate Economic Reform”
LAHORE: The Punjab government announced on Monday that it will not pursue the acquisition of Pakistan International Airlines (PIA). This decision comes amid a significant shift in the privatization landscape of the struggling national carrier. No Plans for PIA Purchase Punjab Information Minister Azma Bokhari confirmed during a press conference that the provincial government has …
Continue reading “Punjab Government Backs Off from PIA Acquisition”
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet approved a circular debt management plan for the fiscal year 2024-25 on Monday. This plan aims to reduce liabilities in the power sector and enhance financial sustainability. Meeting Highlights Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb chaired the ECC meeting. Several key agenda items …
Continue reading “ECC Approves Circular Debt Management Plan for 2024-25”
The recent 2.5% cut in the State Bank of Pakistan’s (SBP) policy rate has prompted a mixed response from the business leaders, calling for further reductions to drive economic growth. Industry stakeholders argue that the current rate remains high and limits the potential for business expansion, urging the SBP to aim for a single-digit interest …
Continue reading “Business Leaders Urge Deeper Rate Cuts to Drive Economic Growth”
The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) met today to announce a significant policy change. The MPC decided to cut the policy rate by 250 basis points, lowering it to 15 percent. This reduction will take effect from November 5, 2024. Inflation Trends The MPC observed a notable decline in …
Continue reading “SBP Monetary Policy Committee Announces Major Rate Cut”
The Pakistan Stock Exchange (PSX) saw another day of impressive rise, with the benchmark KSE-100 Index surging by nearly 1,250 points during intra-day trading on Monday. By 3:30 pm, the KSE-100 stood at 92,105.87, up 1,246.02 points, or 1.37%. The index hit an intra-day peak of 92,159.08 as investor sentiment remained high. Key Sectors Drive …
Continue reading “Pakistan Stock Exchange Rises Amid Strong Buying, MPC Rate Cut Anticipation”
The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) is set to announce its key interest rate decision shortly. Many analysts are anticipating a substantial cut of 200 basis points (bps). This move follows recent reductions aimed at stimulating economic growth amid slowing inflation and declining oil prices. Background of Recent Rate …
Continue reading “SBP Expected to Announce Key Interest Rate Decision”
ISLAMABAD: Pakistan faces new financial challenges as the International Monetary Fund (IMF) has urged the government to adopt more stringent revenue-boosting measures. The IMF’s demand follows Pakistan’s revenue shortfall during the first four months of the fiscal year. IMF Rejects Request to Lower Tax Target The Federal Board of Revenue (FBR) confirmed that Pakistan had …
Continue reading “IMF Pushes Pakistan for More Revenue Measures”
The Securities and Exchange Commission of Pakistan (SECP) has revised the eligibility criteria for the appointment of Chief Financial Officers (CFOs) in insurance companies. The SECP announced this change in a new S.R.O. 1586(I)/2024, amending the Code of Corporate Governance for Insurers, 2016. This regulatory update was released on Saturday, with changes aimed at strengthening …
Continue reading “SECP Updates Eligibility Criteria for Insurance CFOs”
The Khyber Pakhtunkhwa (KP) government has shown interest in buying Pakistan International Airlines (PIA). KP’s Board of Investment and Trade (KP-BOIT) vice chairman, Hassan Masood Kunwar, sent a letter to Federal Minister for Privatisation, Aleem Khan. In it, KP-BOIT assured the federal government that it would bid higher than the current Rs10 billion offer by …
Continue reading “KP Government Shows Interest in Acquiring PIA”
