The data showed that the inflows of remittances during July were recorded at US$161 million as compared to US$ 200 million in June and US$ 224 million in May 2024. These accounts provide innovative banking solutions to millions of Non-Resident Pakistanis (NRPs), including Non-Resident Pakistan Origin Card (POC) holders, seeking to undertake banking, payment, and […]
According to sources within Finance Ministry, the foreign remittances currently, stand at $32 billion and the government aims to increase it by 10% annually. To achieve this target, 26 Community Welfare Attachés will be appointed in Gulf countries and Europe next month. These attachés will facilitate overseas Pakistanis in investing in technology zones and provide […]
Lego, which sells billions of plastic bricks annually, has tested over 600 different materials to develop a new material that would completely replace its oil-based brick by 2030, but with limited success. Now, Lego aims to gradually bring down the oil content in its bricks by paying up to 70% more for certified renewable resin, […]
This upgrade follows Fitch Ratings’ decision in July to raise the country’s credit rating from “CCC” to “CCC+”. Moody’s said that this upgrade reflects Pakistan’s improved macroeconomic conditions and moderately better government external positions from very weak levels. “We have also upgraded the rating for the senior unsecured MTN program to (P)Caa2 from (P)Caa3. Concurrently, […]
The revelation was made during the meeting of the Senate’s standing committee on finance. According to the State Bank of Pakistan (SBP), 14 million accounts of various banks have been temporarily inactive for a decade. A proposal has been made to extend the period for permanently closing these dormant accounts from 10 years to 15 […]
The board’s agenda includes discussions on seven countries, including Vietnam, Uganda, and Denmark. A meeting regarding Pakistan is anticipated once the country fulfills the remaining preconditions. As per sources within the finance ministry, the government is optimistic about meeting the requirement of securing an additional $2 billion in external financing soon. Efforts have intensified to […]
President All Pakistan Traders’ Association, Ajmal Baloch said no talks are being held with the government and they are observing a strike across Pakistan. Markets from Karachi to Khyber are closed on the call of the traders’ body. Earlier on Tuesday, the Central President of the Anjuman-e-Tajiran, Kashif Chaudhry, termed the government’s negotiations a ‘drama’ […]
Moreover, it’s seen as a haven asset, offering protection against economic uncertainties. The industrial sector’s growth further fuels silver demand, as it’s essential in electronics, solar panels, and medical equipment. Gold Rates Today in Pakistan Silver prices in Pakistan are influenced by global market trends, the exchange rate, government policies, and domestic supply and demand. […]
The OMR76 million project aims to increase the gas network’s capacity by 60% to meet rising energy demands in the region. Project Details and Benefits The Saib Project consists of two loops, spanning 208 km, and includes the extension of six block valve stations and three new launching and receiving stations. The project will increase […]
Traders are to observe a strike on August 28 (tomorrow) against the Tajir Dost scheme launched by the Federal Board of Revenue. Fazlur Rehman in his statement said, he fully supports the strike of traders and alleged government is overtaxing people on the demand of the International Monetary Fund (IMF). Inflation and ‘unjustified’ taxes have […]
