Banks have managed to increase their Advance-to-Deposit Ratio (ADR) to 44 per cent in a bid to avoid the 15pc incremental tax due at the end of 2024, analysts said on Wednesday. The government — keen to extract more revenue from banks that recorded unprecedented profits in 2023, nearly double the previous year — appears to have been thwarted as banks rapidly increase lending to minimise additio
Bulls maintained their control over the trade floor as shares at the Pakistan Stock Exchange(PSX) surged more than 800 points on Tuesday, briefly touching the 96,000 barrier for the first time. The benchmark KSE-100 index climbed 812.70 points, or 0.86 per cent, to stand at 95,808.37 points from the previous close of 94,995.67 points at 11:08am. At 2:44pm, the index crossed the 96,000 threshold
A new report from the Asian Development Bank has stressed the need for adapting schools to the impacts of climate change since extreme weather is significantly increasing school closures and affecting learning outcomes and household incomes over the long-term. The report, ‘Climate Change and Education Playbook’, referred the 2022 floods in Pakistan which damaged some 17,000 schools, disrupting
The Economic Coordination Committee (ECC) on Tuesday formally approved subsidy-neutral discounted electricity rates for incremental consumption during the winter months (December to February) to stimulate power usage amid high tariffs and economic downturn. The initiative — which applies to residential, commercial and industrial consumers — is expected to increase consumption by up to 16 pe
The National Assembly Standing Committee on IT & Telecom questioned the authority of the Pakistan Telecommunication Company Ltd (PTCL) to sell its properties since the board of directors was not the owner of the company. The committee meeting in the Parliament House sought answers to several queries from the state-owned largest telecom company, including the board’s powers under the sale purcha