The State Bank of Pakistan (SBP) has given in-principle approval to Toko Lab Private Ltd and Accept Technologies Pvt Ltd (PayMob) for establishing themselves as Electronic Money Institution (EMI) and Payment System Operator (PSO)/Payment Service Provider (PSP), respectively. According to the SBP press release on Tuesday, the two companies will now develop their infrastructure and readiness with
The National Price Monitoring Committee (NPMC) directed provincial chief secretaries on Tuesday to conduct regular price evaluations at the district level in collaboration with the Pakistan Bureau of Statistics (PBS) to keep an effective check on the price of essential items items. The NPMC meeting chaired by Planning Minister Ahsan Iqbal also emphasised the need to avoid duplicated efforts by
The government on Tuesday put on record that it had reached an agreement with bagasse-based power plants for tariff cuts and would take four to six months to revise power purchase agreements (PPAs) with 18 other independent power producers (IPPs) set up under 1994 and 2002 power policies. With the approval of the federal cabinet last month, Power Minister Owais Khan Leghari announced the pre-ma
Pakistan plans to issue Eurobonds in the next fiscal year after securing an improved ratings from international agencies, announced Finance Minister Mohammad Aurangzeb on Tuesday. Speaking at the launch of the Securities and Exchange Commission of Pakistan’s (SECP) Electronic Mortgage Register, the minister said the economy has stabilised, and regulators and banks must accelerate growth. The
Pakistan Stock Exchange (PSX) surged to a new all-time high on Monday as the KSE-100 index climbed nearly 1,100 points to close just short of the 92,000 mark. Investor optimism was fueled by expectations of a substantial policy rate cut by the State Bank of Pakistan (SBP) later in the day, after a recent 3.6% reduction in National Savings Scheme (NSS) rates due to the easing inflation, which fe