Finance

Islamabad, 18 March, 2024 (GNP); The International Monetary Fund (IMF) has advised the Federal Board of Revenue (FBR) to broaden the scope of the Capital Gains Tax (CGT) by including cryptocurrencies. This recommendation was made during…

Karachi, 4 March, 2024 (GNP): A leading Islamic financial institution of Pakistan, has partnered with State Bank of Pakistan (SBP) for ‘Pakistan Financial Literacy Week 2024’. Committed to fostering financial education and inclusivity, FBL…

:کراچی،7  فروری 2024 (جی این پی) پاکستان کے صف اول کے اسلامی بینکوں میں شامل فیصل بینک لمیٹڈ (ایف بی ایل) نے سال 2023 میں شاندار کارکردگی کا مظاہرہ کیا، جو کاروبار کے صحت مند بنیادی اصولوں کے ساتھ ساتھ محتاط رسک مینجمنٹ کی عکاسی کرتا ہے۔…

Faysal Bank Limited (FBL) a prominent Islamic bank in Pakistan, has shown strong performance in the inaugural year as an Islamic Bank, showcasing its healthy business fundamentals as well as prudent risk management.

More than 20 million Muslims can get access to Islamic finance instruments and make halal money transactions. In 2023, Russia passed a law on Islamic banking - in the next two years, an experiment on its use in one of the largest countries…

Islamabad, 31 January,2024 (GNP): Raqami Islamic Digital Bank (RIDB) obtained a no objection certificate (“NOC”) and in-Principal Approval (IPA) from the State Bank of Pakistan (SBP) to establish an Islamic digital retail bank in Pakistan…

Riyadh will host the Expo 2030 world’s fair, marking another successful hosting achievement for a Gulf nation, following Qatar’s hosting of the World Cup last year.

The State Bank of Pakistan (SBP) announced today that the Kingdom of Saudi Arabia has extended the term for a $3 billion deposit to Pakistan for an additional year.

After reaching a staff-level agreement with the International Monetary Fund (IMF), Pakistan’s benchmark KSE-100 index surged beyond 57,000 points, accompanied by a recovery in the rupee against the dollar.

According to sources, there is a possibility of a significant reduction in fuel prices starting from November 1.

Chinese and Pakistani companies have taken a significant step towards enhancing their bilateral trade and business cooperation by signing a Memorandum of Understanding (MoU).

“The State Bank of Pakistan (SBP) imposed fines on United Bank Limited (UBL), The Bank of Punjab (BoP), JS Bank Limited (JSBL), and Allied Bank Limited (ABL) for non-compliance with banking regulations.”

The Ministry of Finance, in an effort to prevent the misuse of daily allowances funded by taxpayers, has imposed restrictions on payments to senior bureaucrats when traveling abroad on foreign invitations.

Bank of the Future Forum 2023, one of the key banking and financial conferences in Pakistan, co-hosted by Systems Limited and Temenos, is set to take place on 5th October 2023 at PC Hotel Karachi.

Country Director World Bank called on Minister for Finance, Revenue, Economic Affairs and Privatization, Dr. Shamshad Akhtar.

Nawaf Bin Said Al-Malki, Ambassador of the Kingdom of Saudi Arabia called on Caretaker Minister for Finance, Revenue, Economic Affairs, and Privatization Dr. Shamshd Akhtar, at the Finance Division.

 :اسلام آباد،۷ستمبر ۲۰۲۳ (جی این پی) نگران وزیر خزانہ نے سعودی سفیر کا پرتپاک خیر مقدم کیا، وزارت خزانہ ڈاکٹر شمشاد اختر نے پاکستان اور سعودی عرب کے درمیان دیرینہ تاریخی، مذہبی اور ثقافتی تعلقات کو سراہا نگران وزیر خزانہ نے سعودی سفیر کو…

In a swift and decisive response, Caretaker Federal Minister for Information and Broadcasting, Murtaza Solangi, categorically refuted the authenticity of a purported notification circulating on social media, falsely claiming a ban on…

Israel's Foreign Minister, Eli Cohen, visited Bahrain on Monday to celebrate the inauguration of Israel's new embassy in Manama. During the ceremony, both nations expressed their commitment to strengthening economic ties and trade…

The Government of Pakistan has announced a substantial hike in petrol and diesel prices, with the new rates set at Rs272.95 and Rs273.40 per litre, respectively. The decision came as a response to the recent surge in international prices…

The Ministry of Information and Broadcasting has presented a summary for charging a radio license fee of Rs15 through electricity bills.

The State Bank of Pakistan (SBP) has announced a significant surge in its foreign exchange reserves, which increased by $4.2 billion to $8.7bn during the week ending July 14, as reported in an official statement by the central bank.

Countries opting out for Yuan and other currencies other than the US dollar is a signal of declining value of Washington and the dollar.

The International Monetary Fund (IMF) has announced that the recently approved $3 billion loan programme will play a vital role in stabilizing Pakistan's economic situation and meeting its balance of payments needs.

Finance Minister Ishaq Dar announced on Wednesday that the United Arab Emirates (UAE) has deposited $1 billion into the State Bank of Pakistan, bolstering the country's declining foreign exchange reserves. The timely financial support from…

Prime Minister Shehbaz Sharif stated on Wednesday that there has been a positive indication that the country would get the approval of a $3 billion short-term bailout from the International Monetary Fund (IMF) board when it meets on 12 July…

The Prime Minister of Pakistan Shehbaz Sharif said on Monday that the International Monetary Fund (IMF) agreement is a "breather" and a "moment of concern" at the same time. He asked all the national institutions to make a collective effort…

The two prominent global rating agencies, Fitch and Moody's have predicted that Pakistan will be in need of more funds than it is currently getting from the International Monetary Fund (IMF) to assist its economy and meet its debt…

Finance Minister Ishaq Dar informed the National Assembly on Saturday that the government has agreed to implement Rs215 billion in new taxes. This move came as a final attempt to revive the stagnant International Monetary Fund (IMF) loan…

The government of Pakistan and the International Monetary Fund (IMF) reduced their differences after the government agreed to make adjustments to the budget and also withdrew import restrictions.

The World Bank (WB) on Thursday, announced financial facilitation for the vulnerable countries hit by natural disasters at the Paris Summit. Simultaneously, the International Monetary Fund (IMF) stepped up to provide $100 billion in Special…

The government of Pakistan formed a negotiation committee to settle a deal with the United Arab Emirates (UAE) to hand over the Karachi port terminals on Monday.

Finance Minister Senator Ishaq Dar has dismissed rumors of failed talks between Pakistan and the International Monetary Fund (IMF), emphasizing that negotiations are still ongoing.

The International Monetary Fund (IMF) is unsatisfied with Pakistan's budget 2023-24 and pointed many faults out in it on Wednesday.

To revive the economy, the government has laid out a roadmap for the execution of numerous projects within the 5Es framework: exports, e-Pakistan, environment, energy and infrastructure, and equality and empowerment.

In the next fiscal year, the youth would be provided interest free loans and an endowment fund would be established for education and sports.

نٹ شیل گروپ کے بانی و سی ای او، سابق وزیر مملکت اور چیئرمین بورڈ آف انویسٹمنٹ (بی او آئی) محمد اظفر احسن کا کہنا ہے کہ پاکستانی معیشت کی ترقی میں ٹیلی کمیونی کیشن/ سیلولر انڈسٹری کا اہم کردار ہے، جسے تسلیم کیا جانا ضروری ہے۔

Oil prices rose $1 per barrel on Monday due to Saudi Arabia's pledge to reduce output by an additional 1 million barrels.

As Prime Minister Shehbaz Sharif stated his optimism to settle the deal with the International Monetary Fund (IMF), rumors have arisen that the world's top lender may combine the 9th and 10th reviews with the bailout plan for Pakistan set…

6th edition of leaders in Islamabad Summit held on Wednesday under the them "The Big Rethink."

Pakistan is ready to share all budget details with IMF to revive the 6.5 billion program.

The 6th edition of Pakistan’s biggest corporate event, Leaders in Islamabad business summit 2023 (LIIBS), will take place from 31 May till 1 June, 2023, at a local hotel in Islamabad.

Less than two weeks before a potentially terrible default, House Speaker Kevin McCarthy announced on Friday that Republicans have suspended crucial US debt crisis talks due to a lack of movement from Democrats.

Federal government has announced massive price-cuts on petroleum products on Monday.

PKR regained 4.86 per cent of its value against the US Dollar in the interbank market, after losing almost 3pc the day before.

On May 18-21, representatives of 72 countries will gather in the most northern point of Islamic culture distribution – the Russian region of the Republic of Tatarstan. The XIV International Economic Forum Russia - Islamic World: KazanForum…

On May 18-20, 2023 in the capital of the Republic of Tatarstan at the International Exhibition Center Kazan Expo will be held

China Merchants Group (CMG), a leading state-owned enterprise in China, announced on Monday that it plans to invest $2 billion

The US dollar, as the leading global currency, has long been the preferred form of payment for investors as the most important global currency but that status is now coming under a mounting threat.

The Company reported a revenue of PKR 22,651 million in the first quarter, showcasing 62% topline growth versus last year, driven by mix improvement, widening our distribution footprint, and volume growth in both, the Dairy-Based Products…

Government of Pakistan

Government of Pakistan subsidy plan

International risk score of Pakistani banks

Iran Pakistan gas pipeline issue

Pakistan Ramzan package

PKR against US dollar

Dar meeting with US officials

the declining Pakistani rupee

Islamabad, 2 March 2023 (GNP): According to the Pakistan Bureau of Statistics(PBS), the Consumer Price Index (CPI) measured inflation and showed an increase by 31.5 percent in February while a year back, there wasn't inflation to this…

Reduction in Petrol prices

FATF on Russia

Gold prices in Pakistan

Pakistan and IMF deal

Chinese Bank financing Pakistan

PM Shehbaz on country's economy

Abu Dhabi, 20 February 2023 (GNP): On February 15, the UAE Banks Association and the Azerbaijan Banks Association signed a Memorandum of Understanding (MoU) to extend the sharing of interactions and enhance the growth of the banking and…

Gas price increase

Pakistan and Kuwait on economy

UAE digital dirhams

Pakistan and IMF agreement

The likely state of Pakistan economy in the year 2023

Daraz is going to layoff its workforce

Pakistan has to pay a staggering amount of $21.95 billion in the coming year. This is huge amount for Pakistan already in very fragile economic position.

Islamabad, 7 January 2023 (GNP): Due to the US dollar shortage and significant rupee devaluation, Pakistan's largest oil refinery, the Cnergyico refinery, has faced a crude oil shortage and has been closed for approximately a week. An…

Islamabad, 3 February 2023 (GNP): The price of gold (24 carats) climbed by Rs 3,500 per tola and Rps 3,000 per 10 kilos to settle at Rps 205,000 and Rps 175,754, respectively, according to data issued by the All-Pakistan Sarafa Gems and…

Islamabad, 3 February 2023 (GNP): Pepsi and Coke recently met with the Finance Ministry of Pakistan and promised to get loans worth about $200 million from their parent businesses to inject money into the nation. The Finance Ministry agreed…

Islamabad, 2 February 2023 (GNP): Owing to record-breaking currency depreciation, higher taxes, and rising electricity prices, Pakistan is experiencing its highest level of inflation. This is largely due to a double-digit increase in the…

London, 31 January 2023 (GNP): The IMF did add, though, that it currently believes the UK economy is "on track" following the Autumn Statement. The UK did better than many expectations last year, according to Chancellor Jeremy Hunt. Instead…

Islamabad, 30 January 2023 (GNP): The Pakistani rupee rate dropped by Rps 6.5 to the dollar (2.32%) in today's interbank market activity, reaching a new record low of Rps 270. In an effort to persuade International Monetary Fund (IMF)…

Islamabad, 30 January 2023 (GNP): Ishaq Dar, the finance minister of Pakistan, in a recent conference, announced that the federal government has raised the cost of gasoline and fuel by Rupees 35. Following the elimination of the informal…

Islamabad, 28 January 2023 (GNP): Due to its tardiness in making a decision over restarting the International Monetary Fund (IMF) loan programme, Pakistan received only $5.6 billion in foreign loans during the first half of the current…

Islamabad, 28 January 2023 (GNP): Following the rupee's freefall against the US dollar on Friday, gold prices exceeded Rs200,000 per tola (11.66 grams) for the first time in Pakistani history. However, because real buyers have left the…

Washington DC, 27 January 2023 (GNP): The US economy grew more quickly than anticipated until the end of 2022, but there were indications of declining underlying demand as growth in this year's economy is threatened by the sharpest…

Islamabad, 27 January 2023 (GNP): Prime Minister of Pakistan, Shehbaz Sharif, announced to the public that Pakistan will sign the agreement with the International Monetary Fund (IMF) by the end of this month, which had been delayed due to…

Islamabad, 25 January 2023 (GNP): With the lack of clarity over dates for the visit of the International Monetary Fund, Pakistan is bound to a $500 million amount as debt repayment to a Chinese commercial bank within 72 hours. This action…

Islamabad, 24 January 2023 (GNP): The spokesperson of OGRA said in a statement:" Ogra strongly rebuts the speculations on petrol/diesel shortages. Furthermore, ships carrying 101,000 metric tonnes petrol are at berth/outer anchorage. The…

Islamabad, 21 January 2023 (GNP): The World Bank has announced to delay in the approval of two loans worth $1.1 billion until the next fiscal year. The lender has also opposed the policy of levying taxes on imports, creating a disruption in…

Islamabad, 21 January 2023 (GNP): According to Pakistan Stock Exchange (PSE), the Pakistani rupee dropped by Rps 0.52 (0.23%) to a three and half-month low at Rs229.67 against the US dollar in the interbank market. Also Read: Major…

Islamabad, 20 January 2023 (GNP): Textiles owners on Thursday warned to go on a strike over delays of imported cotton containers at Karachi Port amid the country’s struggle to boost fast-depleting foreign exchange reserves. All Pakistan…

Riyadh, 19 January 2023 (GNP): Crown Prince Mohammad Bin Salman, on January 17, ordered the authorities of Saudi Arabia to increase the country's investments in Pakistan by $10 billion, giving a major boost to Pakistan’s efforts to…

Islamabad, 19 January 2023 (GNP): The Finance Minister of Pakistan, Ishaq Dar, revealed that the United Arab Emirates (UAE) provided Pakistan with a 2 billion dollars loan on 12 January 2023 so that Pakistan, currently a cash-deprived…

Islamabad, 19 January 2023 (GNP): According to reports, multinational companies are shutting down their mobile phone assembly plants in Pakistan due to a shortage of dollars. Three major phone manufacturers have reportedly closed their…

Islamabad, 19 January 2023 (GNP): The former Finance Minister of Pakistan, Hafiz Pasha, has warned that in case Pakistan defaults, the country's inflation rate can skyrocket to 70%. Even if the International Monetary Fund’s (IMF) loan…

Islamabad, 18 January 2023 (GNP): The National Electric Power Regulatory Authority (Nepra) has allowed an increase in tariff up to Rs4.46 per unit for quarterly adjustment for the first quarter of the financial year 2022-23. The tariff…

Islamabad, 16 January 2023 (GNP): Ishaq Dar, Finance Minister of the Pakistan Government, has announced that the prices of petroleum will remain the same as the present and won't increase till February. He said this while addressing a media…

Islamabad, 14 January 2023 (GNP): According to Pakistan Petroleum Division, the price of petrol is expected to increase by Rupees 8.98 per liter while the price of high-speed diesel (HSD) may rise by Rupees 1.06 per liter in the coming…

Islamabad, 14 January 2023 (GNP): According to the stats revealed by All Pakistan Sarafa Gems and Jewellers Association, the price of gold rose by Rupees 500 per 1 tola on Thursday, 12 January to set at Rupees 186,100 today. Similarly, the…

Buenos Aires, 13 January 2023 (GNP): According to the recent stats issued by Argentina's economists, it was observed that the country's consumer prices inflated by almost 95 percent during 2022. This is one of the highest inflation rates…

Washington DC, 12 January 2023 (GNP): United States's spokesman, Ned Price has assured Pakistan that the US will support the country's efforts to strengthen its economy and deal with the aftereffects of last year’s flood disaster. Ned…

Karachi, 12 January 2023 (GNP): Pakistan's PM Shahbaz Sharif has warned all business persons and individual hoarders who have created an artificial wheat shortage in the market. He announced in a meeting on Monday that the federal…

Karachi, 12 January 2023 (GNP): Diamond Industries Limited, the oldest foam producer in Pakistan has announced to temporarily suspend its production due to a shortage of raw materials. This decision came into effect yesterday on 10th…

Islamabad, 11 December 2023 (GNP): According to a press release issued by the European Union on Monday, January 9, 2023, , three agreements were signed by Dr. Kazim Niaz, Secretary Ministry of Economic Affairs Division, and Dr. Riina Kionka…

Islamabad, 11 January 2023 (GNP): Oil and Gas Regulatory Authority of Pakistan (OGRA) has allowed Sui Southern Gas Company Limited (SSGCL) and Sui Northern Gas Pipelines Limited (SNGPL), two major gas-providing companies, to inflate gas…

Islamabad, 10 January 2023 (GNP): According to reports, about seven million people working in textile and textile-related industries in Pakistan have been fired from their jobs due to decreasing exports and the Pakistani government’s failed…

Islamabad, 10 January 2023 (GNP): Pakistan's Federal Minister for Planning, Ahsan Iqbal has stated at the International Conference on Climate Resilient Pakistan, co-arranged by the UN and Pakistan's government in Geneva that the aggregate…

Zurich, 9 January 2023 (GNP): The central bank is reported to have recorded a loss of a total 132 billion Swiss francs ($143 billion) last year, hindering it from providing funds to Switzerland's government. Most of last year’s losses were…

Karachi, 7 January 2023(GNP): Pakistan's government has decided to sell two LNG power plants to raise an estimated $1.5 billion. Previously these plants were to be privatized, however now, the government aims to sell state assets to Qatar…

Islamabad, 6 January 2023 (GNP): According to reports, Flour, which is Pakistan's staple food is no longer available in Lahore. Prices of flour have soared in the metropolis with shops reporting zero stock of the commodity across the city.…

Islamabad, 4 January 2023 (GNP): According to reports, the Pakistani rupee fell in value on the first working day of 2023 by 0.22 (Rps 0.51) to a three month low at Rs226.94 against the US dollar in the inter-bank market on Tuesday. The…

Islamabad, 2 January 2023 (GNP): Pakistani politician and political economist Miftah Ismail shared his views regarding Pakistan's future and economy in a recent interview. Upon being asked about Pakistan's position to default in 2023,…

Islamabad, 29 December 2022 (GNP): According to sources, Rupee has fallen in value in comparison with the American dollar by 225 at the inter-bank market after two and a half months. There have been reports of people putting their savings…

Islamabad, 27th December 2022 (GNP): An abnormal rise in gold prices in Pakistan has been recorded and observed. According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola started to rise this week on…

Islamabad, 27 December 2022 (GNP): Being among the top banks of Pakistan, Bank Alfalah has been honoured with three prestigious awards in recognition of its remarkable banking performance, investor relations and investment banking at the…

Karachi, 13 December 2022 (GNP): Gold price increase in Pakistan reached RS 169650 per tola on Monday because, due to bad conditions of the economic situation, the investors are keeping their gold safe. According to the All Pakistan…

Karachi, 12 December 2022 (GNP): The Best Bank of Pakistan Award 2022 was presented to Habib Bank Limited (HBL). The Award ceremony was held in Karachi on December 9, 2022. The Institute of Bankers Pakistan (IBP) and Dawn News jointly…

Islamabad, 12 December 2022 (GNP): On Sunday, the Pakistan Finance Minister, Ishaq Dar, chaired a virtual meeting regarding the out-of-court settlement with Tethyan Copper Ltd. The mining firm sued the Government of Pakistan for not…