The State Bank of Pakistan on Thursday confirmed the rollover of two deposits of $1 billion each for another year by the United Arab Emirates. The national bank said the deposits were maturing this month. Prime Minister Shehbaz Sharif had announced last week that the UAE had agreed to roll over the payment of $2bn due by Pakistan this month. Securing external financing has previously been
Prime Minister Shehbaz Sharif has directed the Federal Board of Revenue (FBR) to constitute a panel of experts to identify frivolous cases and take practical steps to resolve all revenue-related cases as soon as possible. During a meeting to review various options to expedite legal cases, the premier issued this directive to FBR and Law Division officials. As many as 33,522 cases worth Rs4.7
Remittances through exchange companies remained robust during the first half of the current fiscal year (FY25), with $2 billion sold to banks and an additional $2bn in the open market. Pakistan is on track to receive $35bn in total remittances through banks by the end of FY25, with inflows already showing a 33 per cent increase in the first half compared to the previous year. According to ba
Global growth should remain stable this year and next, but at recent historic lows, the World Bank said Thursday, expressing particular concern about growth in developing countries. Growth should hit 2.7pc in 2025 and 2026, in line with the level reached last year, the World Bank announced in a new report, adding that inflation and interest rates should “decline gradually” over this period.
The Telecom Operators Association (TOA) has raised concerns over a 300 per cent increase in the price of fibre broadband routers, warning that the hike contradicts the government’s Digital Pakistan Vision and could jeopardise the broadband expansion in the country. In a letter to the Ministry of Information Technology and Telecommunications and the Federal Board of Revenue (FBR), the TOA argued