KARACHI: Five former senior officials of National Bank of Pakistan (NBP) and two corporate chiefs are in the crosshairs of the National Accountability Bureau (NAB) for allegedly engaging in a fraud to the tune of Rs10.4 billion. The accused include Azgard Nine Ltd CEO Abid Humayun Shaikh and CFO Abid Amin. The company is a […]

Over the past two and a half decades, bank loans to creditworthy private businesses and individuals as a ratio of GDP have been shrinking. This has prompted two central bank researchers to revaluate the worth of both financial market reforms as well as state-directed bank lending in the light of private ownership of the banking […]

KARACHI: Reserves of the State Bank of Pakistan (SBP) decreased by $3.9bn between October and July 21 despite commercial borrowing of more than $4.4 billion in 2016-17. Currency experts said pressure is mounting on the exchange rate as reserves fall. Dealers in the interbank market said the dollar rate, after reversing from Rs108 to Rs105.40, […]

ISLAMABAD – Pakistan’s total tax revenue witnessed gradual increase from 10.6 percent of Grand Domestic Product (GDP) in 2000 to 12.6 percent of GDP in 2016. According to a report released by Asian Development Bank (ADB), Pakistan’s tax revenue in 2005 was 10.1 percent during 2010, while it declined to 9.8 percent in 2013; however, […]