More than a decade ago, Pakistan’s banking industry saw a highly unusual transaction. Failing to meet the capitalisation requirements, Khadim Ali Shah Bukhari (KASB) Bank was sold to BankIslami for a price of Rs1,000. To this day, this transaction remains a topic of discussion among nerdy individuals and is surely an interesting nugget in the sector’s history. While it may have been controversi
The outflow of profits and dividends on foreign investment remained tightly controlled in FY25, totalling $2.219 billion — only slightly higher than the $2.15bn recorded in FY24, despite notable improvements in Pakistan’s external account and broader economic indicators. According to data released by the State Bank on Monday, the restrained profit repatriation came as a surprise to many in the
After more than a decade, Australia is considering returning to Pakistan’s mining and mineral sector through direct investments, joint ventures, and institutional collaboration for the research and development of natural resources. Australia has been operating in Pakistan’s mineral and natural resources sector, primarily in all resource-rich regions, including Balochistan, Gilgit-Baltistan, and
Pakistan’s trade deficit with the Middle East widened by 7.37 per cent to $13.974 billion in FY25 from $13.014bn a year ago, primarily due to a sharp increase in petroleum imports. According to data compiled by the State Bank of Pakistan, the growing deficit reflects the country’s heavy reliance on energy imports from the region, while exports have shown only marginal gains to a limited number
The Senate Standing Committee on Railways on Monday slammed the Ministry of Railways for its lack of seriousness and failure to provide accurate data on corruption and financial losses, demanding accountability for officials responsible for misleading parliament. Chairman of the committee, Senator Jam Saifullah Khan, criticised the ministry for repeatedly submitting inconsistent information, de