VEON Group, the parent company of Mobilink Bank, has invested $15 million in fresh capital to drive the bank’s strategic ambitions, through its parent. The capital investment will empower the bank to expand its offerings in micro, small, and medium enterprise (MSME) financing, explore Islamic banking, and accelerate its ongoing transition into a technologically advanced, future-ready digital ba
The first six months of FY25 proved disappointing for cement makers as local sales dipped 10.4 per cent to 18.122 million tonnes from 20.228m tonnes in the same period last year. However, a 32pc surge in exports to 4.810m tonnes from 3.655m tonnes salvaged the overall sales during the period, according to the All Pakistan Cement Manufacturers Association (APCMA) data. Total cement despatches
Businessmen from all strata have welcomed the Uraan Pakistan initiative as a roadmap for reform and transformation, but cautioned that “the real challenge will be its implementation”. “The real challenge lies in its true implementation with a clearly defined action plan,” said M. Abdul Aleem, the CEO of the Overseas Investors Chambers of Commerce and Industry (OICCI)) on Thursday. He recalle
The fast erosion of foreign exchange reserves has made it doubtful for the State Bank of Pakistan (SBP) to reach the $13 billion target by the end of FY25. During the last two weeks, the SBP forex holdings witnessed an outflow of $371 million higher than the $300m loan United Bank Ltd arranged for the country recently. The central bank reported on Thursday that the reserves fell $143m to $11
The Senate Standing Committee on Industries and Production on Thursday proposed the installation of charging units for electric vehicles at every fuel station to promote eco-friendly transport. The committee chairman, Senator Aon Abbas, expressed concern over the regulatory mechanism of the new energy and renewal energy. “Who is controlling the prices of solar panels? And who is disrupting