HBL Microfinance Bank (HBL MFB) has partnered with Habib Bank Limited (HBL) to further strengthen Home Remittance disbursements in Pakistan and allow HBL Microfinance Bank customers to receive money in digital wallets and accounts across Pakistan. Commenting on the development, Faisal Lalani, Head of International Banking at HBL, said, “We are excited to partner with...
Category: Business
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SPI Shows Slight Decline on Weekly Basis
The Sensitive Price Indicator (SPI) for the week ended February 10, 2022, recorded a decrease of 0.08 percent due to a decline in food items and non-food items, says the Pakistan Bureau of Statistics (PBS).The year-on-year trend depicts an increase of 18.47 percent mainly due to an increase in tomatoes (289.04 percent), electricity for Q1...
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Rupee Starts Losing Against US Dollar After 8 Successive Days of Gains
The Pakistani Rupee (PKR) depreciated against the US Dollar (USD) and posted losses in the interbank market today. It lost three paisas against the greenback after hitting an intra-day high of Rs. 174.15 against the USD during today’s open market session. It depreciated by 0.02 percent against the USD and closed at Rs. 174.50 today...
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FBR’s Field Offices to Remain Open on Saturdays To Meet Tax Collection Targets
The Federal Board of Revenue (FBR) field offices will remain open on Saturdays with effect from 12 February till further orders. In its circular No. 1(137)STM/2017/, the tax machinery has issued instructions to all Large Taxpayers’ Units (LTOs), Medium Taxpayers’ Offices (MTOs), Corporate Tax Offices (CTOs), and Regional Tax Offices (RTOs) to extend working hours...
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PM Imran Appreciates Chinese Industry Players Eager to Invest in Pakistan
Prime Minister Imran Khan held a series of meetings with leaders of major Chinese state-owned and private companies in Beijing today.The premier was accompanied by federal ministers, advisors, and senior officials. In his remarks, the Prime Minister appreciated the keen interest of the Chinese companies to invest in Pakistan. Highlighting deepening economic and trade ties...
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Ministry of IT to Hire Firm for Audit of its Two Special Funds
The Ministry of Information Technology and Telecom (MoITT) is coordinating and directing efforts to initiate and launch information technology and telecommunications programs and projects aimed at economic development of the country and has decided to hire consultancy firms for audit of two Special Funds for the financial year 2020-21.The MoITT had established two telecom funds...
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IMF Asks Pakistan to Continue Financial Improvement After Completing Review
The International Monetary Fund (IMF) has asked Pakistan to maintain the momentum on the reform of personal income taxation and harmonization of general sales taxes, suggesting that the country will need to increase income tax rates for the salaried class and implement a single sales tax rate across the four provinces.The IMF, in its press...
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Pakistan Eyes an End to IMF Bailouts by Issuing $1 Billion Eurobond
Pakistan intends to discard its ‘begging bowl’ image from the International Monetary Fund (IMF) by issuing an ESG-compliant $1 billion Eurobond in March.The Federal Minister for Finance and Revenue, Shaukat Tarin told Bloomberg that “this program should be enough” and the country will not need another IMF program if it starts posting up to six...
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Bitcoin and Crypto Crash Causes Over $1 Trillion in Losses
For Bitcoin, the only constant has been its recent decline. With the US Federal Reserve’s plans to withdraw stimulus from the market, riskier assets have suffered all across the globe. One of the largest digital assets in the world, Bitcoin has lost more than 12% on Friday and dropped below $36,000, the lowest since July....
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CCoE Approves Winter Incentive Package for Electricity Consumers
A meeting of the Cabinet Committee on Energy (CCoE) was held under the Chairmanship of the Federal Minister for Planning, Development, and Special Initiatives, Asad Umar. The CCoE approved the summary submitted by the Power Division on the winter incentive package on incremental consumption for all domestic, commercial, and general services consumers of XW-DISCOs and...