As of October 2024, the outstanding credit card portfolio in Pakistan stood at Rs8.5 billion, according to the State Bank’s Credit/Loans report. This represents approximately one per cent of the industry’s total consumer financing portfolio. While the financial sector has traditionally prioritised the mass consumer segment, there is significant potential to broaden its focus. Expanding into the
The government is struggling to bring about structural changes in the economy to achieve sustainable and inclusive economic growth with a focus on addressing the external balance of payments crisis. When the economic growth goes up to four per cent, the current account deficit rises, says Finance Minister Muhammad Aurangzeb. The average economic growth rate in three years was 1.7pc, and the cur
The government on Friday reduced the price of high speed diesel (HSD) and kept unchanged that of petrol for the next fortnight, ending December 31, in line with international prices. The finance ministry said Ogra had worked out the consumer prices of petroleum products, based on the price variations in the international market during the last two weeks. The ex-depot price of HSD was reduce
Pakistan’s electricity supply companies caused a staggering Rs660 billion loss to the national exchequer in the last fiscal year ending June 30, 2024, according to a recent Dawn report. To put this in perspective, this amount is 11 times the federal government’s Rs59.7bn budget for higher education last year. This comparison starkly highlights the depth of the structural problems afflicting Pakist
The Pakistan stock exchange continues to rise, with the index surging by 2.1% to current index at 113,141.20 during intra day trading breaching the 113,000 point barrier for the first-time. At 11:00 am, KSE-100 index rose by 2330.99 points (2.1%), up from the previous day's close of 110,810.21 points. The market saw a positive turnaround, with the index reaching a high of 113,481.90 and a lo