PIA to start direct flights between Karachi, Skardu to promote tourism

According to a spokesman for the PIA, an Airbus A320 flight from Karachi-Skardu-Karachi would be operated for the convenience of the residents of the northern areas. Airbus flight for...

Government directs SSGCL and SNGPL to work on LNG terminals

The Ministry of Maritime Affairs is collaborating with the Petroleum Division to facilitate the new LNG terminal developers in streamlining the process and working the bureaucracy to obtain various NOCs and handover of the possession of land for tie-in facilities near Pakistan Steel Mills.

QABP’s Multipurpose Business Centre likely to be launched in May

Presiding over a meeting, called to review progress of development works at industrial estates working under the Punjab Industrial Estates Development and Management Company (PIEDMC), Mian Aslam Iqbal said...

Punjab govt launches crackdown against sugar mafia

Though the government claimed that the sugar crisis in Punjab has been controlled, it is not the case as sugar vanished from the shelves of retail shops after the...

Pakistan’s trade deficit rises to $20.83 billion for current year

Pakistan’s exports of textile and clothing rebounded in March mainly due to value-added sectors and posted a growth of 30.4 per cent from a year ago, showed data released by the Pakistan Bureau of Statistics (PBS) on Friday.

Pakistan’s economic turnaround attributed to improved business confidence: Report

According to the Policy Think Tank's 12-Month analysis till January 2021, the economy is going in a positive direction on the back of the Large Scale Manufacturing sector and Increased business confidence.

CCoE extends flat tariff for industries till 30th June 2020

The policy was extended despite concern from the Power Division that this might lead to increase in the loadshedding and power stations tripping during core months ranging from May to September.

ECC approves withdraws cotton yarn import duty

The customs duty will remain zero until June 2021 but is subject to the approval of the Cabinet. It is done to facilitate the value-added exporters in the textile industry of the country.

Hammad reaffirms commitment to boost construction industry

Federal Minister for Finance, Revenue, Industries and Production Muhammad Hammad Azhar Friday reiterated the government’s firm commitment to further promoting the construction industry as it had triggered an impressive...

Engro to invest $31.4 million in FEED study before establishing plant

Engro Corporation, a diversified group of companies, has announced that it will undertake advance studies for setting up a manufacturing plant in the petrochemical sector at an estimated cost of over $1 billion, which will slash Pakistan’s chemical imports and give a push to exports.

State Bank considering launching digital currency in Pakistan

Governor State Bank of Pakistan (SBP) Dr. Reza Baqir has said that they are ‘carefully studying’ the option to launch a digital currency in Pakistan. He said that the introduction of an SBPs digital currency will have a twofold benefit to Pakistan.

Government sets new production target for Kharif crops

Federal Committee on Agriculture met to set production targets for the Kharif crops that are about to start sowing. Wheat Production is set to increase by 1.7 percent this year.

Silkbank approves HBL’s due diligence request for portfolio divestment

The Borad of Directors (BoD) of Silkbank Limited has accorded, in principle, its approval to Habib Bank Limited’s (HBL’s) request to provide its concurrence to the latter (HBL) to apply to State Bank of Pakistan to proceed with the due diligence of the Consumer Portfolio of Silkbank Limited.

SBP unveils plan to make Islamic Banking big in Pakistan

The State Bank of Pakistan on Monday announced the third five-year strategic plan for the Islamic banking industry. The aim of the plan is to expand the share of Islamic banks’ assets and deposits to 30 percent in the overall banking industry.

Country is on a path of growth and progress, Hammad Azhar

Federal Minister for Finance and Revenue Hammad Azhar said despite challenges, the country’s economy was in much better condition than it was back in 2018 when the incumbent government assumed power.

Roshan Digital Accounts receive $800m in six months

“A big thanks to our Overseas Pakistanis! #RoshanDigitalAccount deposits have crossed $800m, after an inflow of $212m in March. Inflows have been accelerating every month since the RDA launch...

Trade deficit rises to $2.968bn in March

Since December 2020, Pakistan’s trade deficit has been widening and, on a month-on-month basis, the deficit grew by 17.77pc. In February, it went up by 23.93pc to $2.52bn as...

Textile Sector disappointed by cabinet’s decision

The federal cabinet’s decision of deferring the Economic Coordination Committee's (ECC) decision to allow the import of sugar, cotton and cotton yarn from India through land and sea routes...

Digital Magazine

View of State Bank’s Autonomy through experts’ lens

Since it first leaked to the public last month, the news of a proposed amendment in the central bank’s status has become a topic of national discussion. Some people have gone so far as to call it an IMF conspiracy to break Pakistan while others thought it was against our national interest and needed to incorporate other objectives such as growth and employment. We touched base with several commentators who have been looking at this issue to get their views on the SBP autonomy