Meezan Bank denied a “data breach” on Thursday after reports of many customers who faced unauthorised transactions from their debit and credit cards circulated on social media. Over the past week, many social media users reported incidents of unauthorised transactions from their bank accounts. They said large sums of money were transferred from their debit cards without their knowledge. Some cl
Foreign exchange reserves of the State Bank further increased by $31 million to $12.081 billion during the week ending on Dec 13. The reserves have been increasing with the inflows from the donor agencies and the buying of dollars from the interbank market. The government plans to take the SBP reserves to $13bn by the end of FY25. The country’s overall reserves reached $16.632bn, including $
The government came under criticism during a meeting of a Senate panel on Thursday over the gas crisis, with speakers identifying poor coordination and mismanagement for oversupply in the network, on one hand, and shortage of supplies to consumers on the other. The panel decided to reconvene the session with the petroleum minister in attendance. The meeting of the Senate Standing Committee o
Pakistan’s raw food exports increased by 19.58 per cent to $3.15 billion during July-November FY25 from $2.64bn mainly owing to increased rice exports. Raw food exports have risen for the past 16 consecutive months despite unprecedented food inflation in the country’s history. As a result, consumers nationwide are paying higher prices for food items because of supply and demand gaps. On Thur
The branded ghee and cooking product manufacturers have raised prices despite a bearish trend in palm oil import costs. A retailer said the price of branded ghee and cooking oil has increased by Rs80 per kg/litre to Rs570. He added that the hike is up to Rs100 per kg/litre in some big brands. Giving the reason for price disparity, Pakistan Vanaspati Manufacturers Association (PVMA) Chairman