Karachi, March 13, 2024 – In a testament to the digital transformation sweeping Pakistan, the State Bank of Pakistan (SBP) announced on Wednesday that the number of mobile banking users in the country reached an impressive 16 million by the close of December 31, 2023.
(more…)Author: Shahnawaz Akhter
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Govt. Bank Borrowing Surges 104% to Rs 4.13 Trillion in 8MFY24
Karachi, March 12, 2024 – Recent data released by the State Bank of Pakistan (SBP) on Tuesday reveals a staggering 104 percent surge in government bank borrowing, reaching Rs 4.13 trillion during the first eight months (July – February) of the fiscal year.
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Pakistan Witness 41% Drop in Car Sales During 8MFY24
Karachi, March 12, 2024 – Pakistan has experienced a significant downturn in car sales during the first eight months (July – February) of the current fiscal year 2023-24, with a staggering 41 percent drop compared to the same period in the previous fiscal year.
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FTO Asks FBR to Clarify Provident Fund Registration
Karachi, March 12, 2024 – The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to issue a clarification on the registration process for provident funds by employers.
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SBP Likely to Cut Interest Rate by 100 bps in March 18 Statement
Karachi, March 12, 2024 – Analysts at Arif Habib Limited have suggested that the State Bank of Pakistan (SBP) is likely to implement a 100 basis points cut in the benchmark policy rate in the upcoming Monetary Policy Statement (MPS), reducing it to 21 percent from the existing 22 percent.
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Bank Deposits Soar to Historic High of Rs 27.89 Trillion in Pakistan
Karachi, March 12, 2024 – Official data released on Tuesday reveals that bank deposits in Pakistan have surged to an unprecedented high of Rs 27.89 trillion by the end of February 2024.
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Industrialists Unite Against Misuse of Cheque Bounce Law
Karachi, March 12, 2024 – Prominent industrialists and business leaders in Karachi have come together to condemn the alleged misuse of the cheque bounce law by authorities, expressing concern over a new wave of fraud targeting industrialists and businessmen.
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LTO Karachi Records 112% Surge in February Direct Tax Collection
Karachi, March 12, 2024 – The Large Taxpayers Office (LTO) Karachi, a key arm of the Federal Board of Revenue (FBR), has achieved an unprecedented 112% year-on-year growth in the collection of direct taxes in February 2024.
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Nassir Salim Takes Helm as President and CEO of Habib Bank
Karachi, March 11, 2024 –Habib Bank Limited announced the appointment of Muhammad Nassir Salim as its new President and Chief Executive Officer on Monday.
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Investment in Saving Certificates Drops by 12% in Pakistan
Karachi, March 11, 2024 – Pakistan has witnessed a substantial decline of 12 percent in investment in saving certificates during February 2024, compared to the same month a year ago, according to official statistics released by the State Bank of Pakistan (SBP).
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