Finance Minister Muhammad Aurangzeb has stressed the need to enhance the digitisation of Pakistan's banking system and urged authorities, especially the State Bank of Pakistan (SBP), to consider the potential introduction of cryptocurrency with an "open mind" as digital banking gains momentum in the country. Speaking at The First Pakistan Banking Summit 2025 in Karachi, Aurangzeb acknowledged t
The government on Monday warned independent power producers (IPPs), including wind power plants, of a forensic audit if they refuse to renegotiate agreements. After negotiations with IPPs, the government terminated contracts with six private power plants, while others agreed to rupee-based returns and a hybrid take-and-pay basis, Special Assistant to the Prime Minister on Power Muhammad Ali inf
After beginning on a bearish note, the stock market rebounded during mid-session value-hunting on Monday in a roller-coaster trading session. Ahsan Mehanti from Arif Habib Corporation noted that the market experienced a pre-budget rally as investors considered the finance minister’s hints regarding a construction package in the federal budget for 2025-26. He added that the equity investor
Possible US tariffs on Canadian products, including crude oil; enhanced US sanctions on the Russian oil sector by the outgoing Biden administration just a few days before handing over power; the growing squeeze on the Iranian oil output; and the possibility that Russia’s war on Ukraine could come to a forced end soon are some of the variables that are impacting the global energy markets deeply and
It is very easy to get trapped into a boom-bust cycle again, warned Finance Minister Muhammad Aurangzeb on the opening day of the two-day Pakistan Banking Summit on Monday. Comparing the stabilisation phase to a “sugar rush,” he stressed the need for prudent decision-making to ensure this becomes Pakistan’s last programme with the International Monetary Fund. For that to happen, he emphasised,