Recent international and Pakistani news updates regarding Money, Economic, Financial industries including the Central banks and Schedule Banks nad and other Financial and Non financial Institutions.
Roshan Digital Account is an initiative by the State Bank of Pakistan to facilitate Non-Resident Pakistanis (NRPs) in opening a digital bank account with designated commercial banks in Pakistan. This account can easily be opened through an online portal / mobile application by providing minimum documents in just 48 hours. Most importantly, there is no … Read More “How to Invest in Stock Market through Roshan Digital Account” »
According to State Bank of Pakistan, Pakistan’s Foreign Direct Investment (FDI) jumps 23.5 per cent in August 2020. Pakistan attracted $112.3 million FDI in August 2020, compared to $90.3m in same month of 2019. Moreover, in the first two months of FY21, the FDI rushed 40pc to $226.7m, compared to $162m in the same period … Read More “Pakistan’s FDI jumps 24% in August” »
As a part of transparency in tax governance and to have a fair tax system, the Federal Board of Revenue (FBR) of Pakistan started to publish its Tax Directory of Parliamentarians in year 2013. The directory contains tax details of Members of Pakistan’s legislative assembles including Senate, National and Provincial Assemblies. Continuing this exercise, FBR … Read More “Khaqan Abbasi – The most tax paying parliamentarian in 2018” »
Overseas Pakistani have remained an integral part of the Pakistan’s economy and the country’s foreign exchange reserves have been immensely supported by the remittance they sent back home. In an another attempt to attract investment from Overseas Pakistanis, the Government of Pakistan has announced a new investment scheme called “Naya Pakistan Certificates (NPCs)”. The new … Read More “Government of Pakistan announces Naya Pakistan Certificates” »
Shahid Khan makes it to Forbes richest American list. Now a US national, was born into a middle class family of Lahore in 1950. He has now emerged as the 66th richest man in the United States in 2020, with a total worth of $7.8 billion. The richest man on earth is Amazon founder and … Read More “Pakistani born, Shahid Khan makes it to Forbes Richest US list” »
The second phase of Prime Minister Kamyab Youth Entrepreneurship Program Loan has been announced and will be launched on 12th August 2020.
After the COVID-19 was declared a pandemic by the World Health Organization (WHO), various international financial agencies have been providing economic and technical assistance to countries in helping combat the economic impact. Accordingly, the International Monetary Fund (IMF) is providing emergency financial assistance and debt relief to member countries facing the economic impact of the … Read More “Pakistan ranks 3rd among Countries received relief from IMF” »
The Economic Coordination Committee (ECC) of the Cabinet has approved Mobile Device Manufacturing Policy in the meeting held on May 21, 2020. The fundamental purpose of this policy is to promote local manufacturing and assembly of mobile phone handsets in addition to ensure localization of the parts of the mobile phones. The Mobile Device Manufacturing … Read More “Government to introduce Mobile Device Manufacturing Policy soon” »
According to a statement issued by State Bank of Pakistan (SBP), until 15 May 2020, around 1700 businesses have applied for loan under the SBP’s Rozgar Refinance Scheme amounting to Rs. 120 billion. These businesses have employed more than 1.1 million individuals. Under this scheme, about Rs. 61 billion has already been approved by banks … Read More “600,000 Jobs saved by SBP Rozgar Refinance Scheme” »
On April 8, 2020, the BankIslami Pakistan Limited (BIPL), the holding company of BIPL Securities Limited (BIPLS) made a public announcement informing public that M/s AKD Securities Limited (ASL) intents to acquire up to 77.12% of issued and paid up capital along with management control of BIPL Securities Limited. The offer was made by ASL … Read More “AKD Securities may likely acquire BIPL Securities Limited” »
