The governor of the State Bank of Pakistan (SBP), Jameel Ahmad, has said that the government’s initiative to buy back Market Treasury Bills (MTBs) will enable banks to enhance private sector lending significantly.
(more…)Author: Shahnawaz Akhter
-
FBR Elaborates Application of Minimum Tax in Tax Year 2024-25
Karachi, October 2, 2024 – The Federal Board of Revenue (FBR) has issued a comprehensive clarification regarding the application of minimum tax under the Income Tax Ordinance, 2001, for the tax year 2024-25.
(more…) -
Pakistan Achieves Over 14% Export Growth in First Quarter of FY25
Islamabad, October 2, 2024 – Pakistan has reported an impressive 14.11% growth in exports during the first quarter of the fiscal year 2024-25 (1QFY25), a significant indicator of the country’s economic resilience. According to data released by the Pakistan Bureau of Statistics (PBS), exports soared to $7.88 billion between July and September 2024, compared to $6.90 billion in the same period last fiscal year.
(more…) -
Pakistan Targets Rs 10 Trillion to Bridge Budgetary Deficit
Pakistan is poised to secure a substantial Rs10.10 trillion in bank loans through the sale of treasury bills and bonds during the second quarter (October-December) of FY2025, as it grapples with rising funding demands to finance its budget deficit and meet outstanding debt obligations.
(more…) -
Pakistan’s Petroleum Sales Surge by 20% YoY in September 2024
Karachi, October 1, 2024 – Pakistan’s petroleum sales witnessed a significant surge of 20% year-on-year (YoY) in September 2024, reaching a total of 1.27 million tons, according to data released by analysts at Arif Habib Limited.
(more…) -
SBP Revamps Criteria for Conversion of Conventional to Islamic Banking Branches
Karachi, October 1, 2024 – In a significant development aimed at promoting Islamic banking, the State Bank of Pakistan (SBP) has announced a comprehensive overhaul of the criteria for converting conventional banking branches into Islamic banking branches.
(more…) -
SBP Doubles Bank Guarantee Amount to Rs 1 Million per Depositor
Karachi, October 1, 2024 – In a significant move to fortify depositor protection, the State Bank of Pakistan (SBP) announced on Tuesday that the guarantee amount for depositors has been increased to Rs 1 million per depositor, per bank. This marks a doubling of the previous protected deposit amount, which stood at Rs 500,000.
(more…) -
KATI Urges FBR to Resolve Persistent IRIS System Issues
Karachi, October 1, 2024 – The Korangi Association of Trade and Industry (KATI) has called on the Federal Board of Revenue (FBR) to urgently address ongoing issues with its online tax return filing platform, IRIS.
(more…) -
Bulls Reign as KSE-100 Index Surges 690 Points
Karachi, October 1, 2024 – Bulls firmly gripped the Pakistan Stock Exchange (PSX) on Tuesday, propelling the benchmark KSE-100 index to a substantial gain of 690 points. The KSE-100 index closed at 81,804 points, a marked rise from the previous day’s close of 81,114 points, showcasing a robust performance by the local equity market.
(more…) -
Headline Inflation Drops to Multi-Year Low of 6.9% in September 2024
Karachi, October 1, 2024 – Pakistan’s headline inflation, measured by the Consumer Price Index (CPI), plunged to a multi-year low of 6.9% in September 2024, according to data released by the Pakistan Bureau of Statistics (PBS) on Tuesday.
(more…)