In a rare break for the masses, Pakistan has witnessed a significant reduction in retail petroleum prices, marking the fourth consecutive fortnight of falling rates. Motor gasoline prices have plummeted to their lowest in 21 months, providing much-needed relief from the inflationary storm that has gripped the country for the past two and a half […]
In a significant move towards enforcing fair competition in Pakistan’s procurement processes, the Competition Commission of Pakistan (CCP) has issued show-cause notices to ten steel structure suppliers. These suppliers are implicated in alleged collusive bidding practices related to tenders floated by various power distribution companies (Discos). This inquiry, conducted under the auspices of the Competition […]
In a significant financial commitment, the Asian Development Bank (ADB) has pledged $2 billion annually in loans to Pakistan from 2024 to 2027, totaling $8 billion over four years. This announcement comes as a relief to Pakistan, which has been grappling with economic challenges, high-interest loans, and deteriorating credit ratings. ADB President Masatsugu Asakawa made […]
In a significant step towards reshaping Pakistan’s financial landscape, TPL Corp Limited (TPL) and Abhi (Private) Limited (Abhi) have entered into a Share Purchase Agreement (SPA) with FINCA Microfinance Coöperatief U.A to jointly acquire FINCA Microfinance Bank Limited. The announcement, made on Friday through a formal notice shared by TPL Corp to the Pakistan Stock […]
Master Changan Motors has just unveiled its most ambitious venture yet, a new lineup of electric vehicles (EVs) under the brand Deepal. This milestone marks a significant leap for Pakistan’s growing EV market, spearheaded by a powerful collaboration between three giants in electric mobility—Huawei, Changan, and CATL, the world’s leading EV battery manufacturer. In an […]
Islamabad, Pakistan – Digital transformation continues to reshape Pakistan’s financial landscape, and a new strategic partnership between United Bank Limited (UBL) and Jazz Cash is set to make a significant impact. By combining the strengths of UBL’s advanced digital banking platform with Jazz Cash’s leadership in mobile financial services, the two entities aim to streamline […]
Pakistan’s economy, like many developing nations, remains sensitive to fluctuations in petroleum prices, as fuel costs directly affect everyday lives and government revenue streams. Recently, Prime Minister (PM) of Pakistan was quick to claim credit for the consecutive reduction in retail petroleum prices, marking the fourth fortnight in a row of price cuts. The relief, […]
The EV Landscape in Pakistan As the global shift towards sustainable transportation accelerates, Pakistan finds itself at a crossroads in the adoption of electric vehicles (EVs). With the growing awareness of environmental concerns and the pressing need to reduce fuel imports, the government has introduced policies aimed at promoting the use of electric motorcycles, scooters, […]
The State Bank of Pakistan (SBP) has reported a significant expansion in the country’s banking sector during the first half of 2024, with an 11.5% growth in the balance sheet footing. This growth has been largely fueled by investments in government securities, which remain in high demand as the government continues to require substantial credit […]
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