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ISLAMABAD: As the State Bank of Pakistan (SBP) promised issuing digital currency by 2025, Finance Minister Asad Umar on Monday asked the central bank and the Federal Investigation Agency (FIA) to ensure top-class cybersecurity in the banking system to extend emerging benefits of digitalisation to the people. “As we move towards digital economy, it is […]

ISLAMABAD: Revenue collection during the first nine months of the fiscal year showed marginal growth of three per cent posting a shortfall of more than Rs307 billion during July-March period. The total revenue collection was recorded at Rs2.690 trillion during the first nine months of this fiscal year as against Rs2.624tr collected over the same […]

ISLAMABAD: The World Bank has downgraded the rating of a $100 million project, which it is financing in Punjab to reduce poverty and joblessness, due to the provincial government’s failure to approve a spatial strategy. Punjab Jobs and Competitiveness Programme for Result has been downgraded to ‘moderately satisfactory’ after its sixth review held recently, according to […]

KARACHI: The dollar surpassed the barrier of Rs141 in the interbank market on Tuesday to set a record high against the local currency. “From start of the day, we found the dollar was trading at Rs141.10, which was 20 paisa more than Monday,” said a banker dealing in the interbank currency market. Currency dealers said […]

Talks between Pakistan and the IMF broke down late last year due to the IMF’s demand for a significant increase in interest rate to contain inflation, hike in electricity and gas tariffs, adoption of a totally free exchange rate regime and ensuring primary fiscal balance. PHOTO: FILE Talks between Pakistan and the IMF broke down […]

KARACHI: The National Bank of Pakistan (NBP) has started doing the biometric verification for all its users (personal accounts as well as authorised signatories of corporate/commercial entities), under the directives of the State Bank of Pakistan (SBP). NBP assures you of its continued support to maintain and enhance its relationships with clients (corporate/commercial/consumers) by providing superior […]

JHANG: The Federal Investigation Agency, Karachi, has issued notice to a student of Jhang district belonging to a lower middle class family with regard to an inquiry into a suspicious bank account transaction worth Rs173 million. An FIA team had detected Rs173m worth of transaction through a bank account [in Karachi] under the title of […]

ISLAMABAD: Pakistan has hinted at adopting a more flexible exchange rate policy by moving away from a managed currency regime, as the country vies for an early deal with the International Monetary Fund (IMF). “The government is willing to spend political capital for much needed structural reforms …..and it will adopt a flexible exchange rate regime,” […]

ISLAMABAD: Pakistan could become a $2 trillion economy in the next 28 years if it remains steadfast in its reforms and manages to reduce its population growth rate to 1.2%. “With sustained reforms, Pakistan could be a $2 trillion economy when it will turn 100 in the next 28 years,” said the World Bank (WB) Country […]

KARACHI: The State Bank has decided to expand its National Financial Lite­racy Programme (NFLP) to create awareness among the masses and in this regard a mass media campaign is being launched from January 15. Apart from reaching out to the public via print, radio and social media, a dedicated NFLP toll free helpline and website […]