The State Bank of Pakistan (SBP) on Monday extended the deadline for exchange companies to import half the dollar value of their currency exports, in cash, until the end of FY25 against the previous validity of June 30. According to an SBP circular, the decision was taken to ensure an adequate supply of US dollars in the open market. The exchange companies can export foreign currencies, barring
Qist Bazaar, the country’s only buy-now-pay-later online platform for the unbanked, announced on Monday that it had secured $3.2 million in Series A funding led by Indus Valley Capital. Moreover, the deal saw participation from Gobi Partners, a prominent Asia-focused venture capital firm with $1.6 billion in assets under management. Qist Bazaar, licenced by the Securities and Exchange Commis
Pakistan International Airlines (PIA) and Funadiq Travel & Tourism Services, the official marketing representative of the Saudi Tourism Authority in Pakistan, have signed a memorandum of understanding (MoU) to boost tourism and air travel between Pakistan and Saudi Arabia. A spokesman for PIA said on Monday that the partnership aims to promote Saudi Arabia as a top tourist destination for Paki
Minister of State for Information Technology and Telecommunication Shaza Fatima Khwaja has announced that arrangements are underway to facilitate digital outward remittances for IT companies, saying the move will enable IT exporters to seamlessly pay international suppliers and vendors. Speaking at HBL-P@SHA ICT Awards 2024 here on Monday, she said the awards empowered innovators, startups, and
Competition for producing new energy vehicles (NEVs) has intensified as Sazgar Engineering Works Ltd (SEWL) plans to introduce the completely knocked down (CKD) model before Dec 31, 2025. In a stock filing on Monday, SEWL said the board of directors had approved the plan, which includes the expansion of the existing paint shop, construction of new warehousing facilities, installation of a solar