Bank Alfalah on Thursday informed its shareholders that it has withdrawn its offer to acquire Samba Bank (SNB). In a stock filing, Bank Alfalah said it had withdrawn its public announcement of intention (PAI) to acquire a majority stake in Samba Bank Ltd. “The State Bank of Pakistan (SBP) had granted BAFL in-principle approval for the due diligence of Samba concerning the proposed acquisition
The draft of the National Electric Vehicle Policy (NEVP) 2025-30, which includes substantial tax breaks for imports, aims to transform the country’s automotive landscape from fossil fuels to green alternatives. However, assemblers feel the liberal imports of EVs would hurt local manufacturing. One of the salient features of the policy draft suggests that the NEV category passenger vehicles (car
The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $84 million to $11.258 billion during the week ended on Nov 8, announced the central bank on Thursday. Reports appeared in media suggest the government is still unable to rollover the loans from China, Saudi Arabia and the UAE. The threat of repayment of total $26.2bn in FY25 could not be addressed, so far. T
The Securities and Exchange Commission of Pakistan (SECP) has notified the Securities Managers (Licensing and Operations) Regulations 2024, aimed at facilitating investment advisory services in the securities market. The new regulatory framework allows eligible securities brokers to offer portfolio management services upon obtaining a securities manager licence from the SECP. Prior to these
The government is set to amend tax law through a presidential ordinance to make it mandatory for all importers and manufacturers to sell their products to known customers to bring more traders into the formal tax regime. The proposed amendments relate to the ‘Know Your Customer’ (KYC) digital invoice system, designed to encourage traders to register as regular taxpayers or benefit from the Fede