In Pakistan, the dream of increasing credit access for small and medium-sized enterprises (SMEs)—often considered the backbone of any economy—has long been a focus for both the State Bank of Pakistan (SBP) and the Securities and Exchange Commission of Pakistan (SECP). With the advent of fintech platforms, this dream appears tantalizingly within reach. However, significant […]
In a significant monetary policy shift, the US Federal Reserve has cut interest rates by 50 basis points, marking its first easing in four years. This reduction brings the rate to a range of 4.75-5%, a move that is poised to have far-reaching implications, not only for the US economy but also for emerging markets […]
In a remarkable financial turnaround, the State Bank of Pakistan (SBP) reported an unprecedented profit of Rs3.4 trillion for the fiscal year 2023-24 (FY24). This substantial profit is set to play a crucial role in supporting a cash-strapped government facing escalating debt servicing costs. According to Mohammed Sohail, CEO of Topline Securities, this profit eclipses […]
In an age where social media has become a ubiquitous part of daily life, the implications of data collection practices have come under intense scrutiny. A recent report by the U.S. Federal Trade Commission (FTC) has shed light on the troubling ways social media companies handle user data, revealing significant inadequacies in their management and […]
In recent months, the Competition Commission of Pakistan (CCP) has stepped up its efforts to protect consumers from misleading advertising practices, particularly regarding discount promotions during “End of Season Sales.” This initiative comes as part of the CCP’s ongoing mission to ensure fair competition and economic efficiency in the marketplace. With the rising trend of […]
Pakistan, a country already grappling with multidimensional extremism and terrorism, is now confronting a new form of hardship: fiscal terrorism. This form of economic oppression isn’t imposed by external enemies, but by the state itself. The nation’s tax system, primarily dependent on regressive indirect taxes, affects every aspect of the socioeconomic landscape. It is a […]
The China-Pakistan Economic Corridor (CPEC) has become a cornerstone of Pakistan’s economic development since its launch in 2013, transforming key sectors and establishing a long-term collaboration between Pakistan and China. Following the successful completion of CPEC’s first phase, the Pakistani government has now outlined more than 70 new projects for the second phase of CPEC. […]
In a significant move aimed at enhancing tax compliance and facilitating taxpayers in Gilgit-Baltistan (GB) and Azad Jammu and Kashmir (AJK), the Government of Pakistan has decided to allow these taxpayers’ names to appear on the Active Taxpayers List (ATL). This decision, announced by the Federal Board of Revenue (FBR), seeks to provide these individuals […]
In a significant development for Pakistan’s energy landscape, the national grid witnessed a sharp decline in electricity demand in August 2024, plummeting by 17.4% compared to the same period last year. This reduction translates to a consumption level of 13,179 gigawatt-hours (GWh) and reflects a broader trend influenced by various economic and environmental factors. Factors […]
In a groundbreaking achievement for the Pakistani pharmaceutical sector, Citi Pharma Ltd has become the first exporter of nutraceutical products and multivitamins to the United States, following formal approval from the U.S. Food and Drug Administration (FDA). This milestone not only underscores the company’s commitment to quality and innovation but also positions Pakistan’s pharmaceutical industry […]
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