The Securities and Exchange Commission of Pakistan (SECP) on Monday challenged the Auditor General of Pakistan’s (AGP) audit report 2024-25, which alleged that pay and allowance increases for its senior management were made unlawfully and without due process. In challenging the report, the commission also claimed that the auditor general’s office lacked the authority required to conduct the fin
Pakistan began the new fiscal year with foreign inflows of $695 million in July, a 59 per cent increase compared to the same month last year. This boost came from $675m in foreign loans and $19m in grants, reflecting a significant rise from last year’s $426m in loans and $10.5m in grants. The uptick in inflows comes after the finalisation of Pakistan’s Extended Fund Facility (EFF) with the I
The Senate Standing Committee on Information Technology and Telecommunication was informed on Monday that there was no evidence of cartelisation in Pakistan’s telecom sector. The committee sought clarification from the Pakistan Telecommunication Authority (PTA) regarding an audit report related to a tariff increase by the country’s largest telecom company, Jazz. PTA Chairman retired Major Gener
The State Bank of Pakistan (SBP) has launched an initiative under its Regulatory Sandbox to promote inward remittances and foster innovation in the financial sector. The move is part of the bank’s broader Vision 2028 strategy. In a circular issued on Monday, the SBP outlined the themes for the first cohort under its Regulatory Sandbox initiative. The focus will be on three key areas: technol
Pakistan’s IT exports reached an all-time high of $354 million in July, marking a 24 per cent year-on-year (YoY) and a 5pc month-on-month (MoM) rise. This figure surpasses the 12-month average of $317m, highlighting the sector’s growth. Sani Irfan of Topline Securities noted that export proceeds per day for July stood at $15.4m, compared to $17.8m in June. The overall increase was largely d