Finance Minister Muhammad Aurangzeb has assured the government’s support for European Union (EU) businesses in Pakistan. He emphasized efforts to facilitate their operations, including ensuring the timely repatriation of dividends and profits. He discussed these commitments during a meeting with EU Ambassador Riina Kionka in Islamabad. The discussion focused on strengthening economic and trade relations […]
Finance
Pakistan and Denmark discuss $2 billion maritime investment
Pakistan and Denmark reviewed the progress of Denmark’s $2 billion investment in Pakistan’s maritime sector. Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry met with Danish Ambassador Jacob Linulf to discuss the project. They focused on implementing the Memorandum of Understanding (MoU) signed last year. Both sides emphasized the need to modernize ports and […]
Samba bank moves toward full islamic banking transition
Samba Bank has decided to convert from conventional banking to a fully Islamic financial institution. The bank’s board has given in-principle approval for the transition. Now, it will submit its roadmap to the State Bank of Pakistan (SBP) for approval. This move aligns with the growing trend of financial institutions shifting toward Shariah-compliant banking. Following […]
Ford’s €4.4B lifeline: A bold move to save German operations
Ford has announced a €4.4 billion ($4.76 billion) investment to strengthen its struggling German operations. The company aims to cut costs, boost competitiveness, and revamp its European business. Ford-Werke will continue its strategic transformation to secure a sustainable future in the region. John Lawler, Vice Chair of Ford Motor Company, emphasized the need for simpler […]
Pakistan and IMF begin key talks for $1 billion loan tranche
Pakistan and the International Monetary Fund (IMF) have started policy-level discussions regarding the next installment of the $7 billion loan program. These talks are set to continue until March 14. The objective is to evaluate Pakistan’s economic reforms and compliance with the program’s conditions. The discussions focus on several key areas, including new revenue measures […]
Pakistan seeks $4.47 billion loan to tackle energy debt crisis
Pakistan’s government is negotiating a 1.25 trillion rupee ($4.47 billion) loan with commercial banks to tackle its mounting energy sector debt. Power Minister Awais Leghari confirmed that the loan, a key part of the IMF-backed economic reforms, will be repaid over 5 to 7 years. The initiative aims to stabilize the power sector and improve […]
Finance ministry takes charge of crypto rules, excludes science ministry
The Ministry of Finance has taken over Pakistan’s cryptocurrency regulations, pushing the Ministry of Science and Technology aside. The Science Ministry, led by Dr. Khalid Maqbool Siddiqui, had been working on rules for digital assets with help from various government officials. However, the Finance Ministry’s control over financial policies allowed it to step in. Before […]
Pakistan’s textile industry to get major govt backing
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, reaffirmed the government’s commitment to resolving key issues in the textile sector. He assured industry leaders that concerns related to taxation, energy, and financing would be addressed to ensure sustainable growth. During a meeting with the All Pakistan Textile Mills Association (APTMA), senior officials from the […]
IMF may lower Pakistan’s tax target amid economic slowdown
The International Monetary Fund (IMF) is considering reducing Pakistan’s tax collection target to below Rs12.5 trillion due to sluggish economic activity and a Rs606 billion shortfall in revenue. The final decision depends on the Finance Ministry’s ability to cut expenditures while maintaining a Rs1.2 trillion primary budget surplus, a key condition of the IMF program. […]
Pakistan reconsiders UNCAC report disclosure amid IMF talks
Pakistan is reconsidering its pledge to fully disclose the UNCAC Country Review Report, despite committing to transparency with the IMF. Prime Minister Shehbaz Sharif has formed a committee decide whether to publish the full report or just its summary, as an IMF mission reviews Pakistan’s reforms for a $1.1 billion tranche under the $7 billion […]