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Govt Confirms Solar Net-Metering Not Hurting National Grid
The government has finally acknowledged that the rapid rise in solar net-metering is not harming Pakistan’s national power grid, clearing up months of public debate over whether rooftop solar users were reducing their grid dependency. During a Nepra hearing on…
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Govt Forms Committee to Revise Fiscal Measures on Bank Profits from Government Securities
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The government has decided to introduce alternate fiscal schemes targeting the profits generated by banks through investments in government securities. This decision occurs against the…
UBL, NBP, and MCB Bank Lag in Financial Literacy and Sustainability Transparency: FFA Report
2 min read
Asian banks, including Pakistani counterparts, must strike a balance between inclusion aims and financial literacy and consumer empowerment programs, while also informing consumers about their…
Govt Focuses on Outsourcing Major Airports and Expediting Rs29 Billion G2G Projects
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Islamabad: Pakistan’s government is stepping up efforts to outsource airports in Islamabad, Lahore, and Karachi, while also completing numerous key government-to-government (G2G) contracts for Rs29…
Engro to Acquire PMCL Tower Assets for $562.7 Million
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Pakistan Mobile Communications Limited (PMCL) and Engro Corporation Limited have merged through a Scheme of Arrangement, under which Engro will acquire PMCL’s tower assets. The…
Bahria Town Signs Agreement to Launch First Major International Project in Dubai
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With a revolutionary project in Dubai, Pakistan’s leading real estate developer Bahria Town (Pvt) Ltd has formally entered the global market. As part of the…
Bank Alfalah Updates Credit Card Annual Fees Starting January 2025
2 min read
Karachi: Bank Alfalah, a distinguished financial institution in Pakistan, has published its revised schedule of charges, which is scheduled to come into effect on January…
Exports Rise 12.57% in Pakistan’s First Five Months of FY25
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According to figures issued by the Pakistan Bureau of Statistics (PBS), exports from Pakistan climbed by 12.57% in the first five months of fiscal year…
UBL and Silk Bank to Finalize Merger Through Share Swap
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The merger between Silk Bank Limited (SILK) and United Bank Limited (UBL) has been approved by both parties. UBL, one of Pakistan’s largest commercial banks,…
Rs. 1.47 Trillion Surge in Banking Sector in October 2024
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In October 2024, with a surge of 1.47 trillion rupees in advances, banks have been aggressively lending to certain consumers to avoid penalties imposed by…
RAAST Payments to Be Enabled in Online Shopping, Orders SBP
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Banks and financial institutions have been instructed by the State Bank of Pakistan (SBP) to implement the RAAST payment system in e-commerce and online purchasing…
Rs. 39.67 Million Revenue Loss Linked to Lapsed IT Company Registrations, Audit Reports
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The non-renewal of registrations for thousands of IT companies has resulted in a substantial revenue loss of Rs. 39.67 million for the Pakistan Software Export…
FBR Deals with a Rs. 255 Billion Tax Deficit in the First Five Months of FY25
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The Federal Board of Revenue (FBR) is expected to fall short of its tax collection goal by more than Rs. 255 billion in the first…
Govt Proposes Draft Incentive Plan for Semiconductor Sector, Contravening IMF Conditions
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The Ministry of Information Technology and Telecommunication has developed the “Semiconductor Policy and Action Plan,” which provides the semiconductor industry with a variety of incentives,…
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