Pakistan’s gross domestic product (GDP) and per capita income increased in dollar terms at a modest pace in 2024-25, reflecting a sustained recovery in the country’s overall output compared to the previous year, the government said on Tuesday. It was announced on Tuesday that the country’s economy is expected to grow by 2.68 per cent in the current fiscal year, a revision from earlier projectio
The Securities and Exchange Commission of Pakistan (SECP) has suspended the guarantee business of United Insurance Company of Pakistan Limited, prohibiting the company from issuing new guarantees or renewing existing ones. The decision was taken following a show-cause notice served on the company. United Insurance had obtained a stay order from the Lahore High Court on Feb 21 last year. However
A high-level delegation from Deloitte Advisory US, led by Richard Longstaff, on Wednesday called on Minister for Commerce Jam Kamal Khan to discuss strategic reforms, institutional development and investment facilitation. Richard Longstaff expressed Deloitte’s commitment to supporting Pakistan’s energy and economic goals through global expertise. Sofyan Yusufi, Deloitte’s lead advisory partn
Banks’ credit to non-bank financial institutions (NBFIs) sharply declined to Rs416 billion during November-May FY25, compared to over Rs1 trillion by mid-Nov FY25. The State Bank’s latest data showed that banks had pulled back their funds from NBFIs, which were earlier injected largely to avoid government-imposed tax measures. Banks had pumped over Rs1tr into NBFIs — a record for the sector
With a massive 22 per cent surge in power consumption in April compared to last year, the electricity price hike has once again returned to burden consumers, as public sector distribution companies (Discos) have sought a Rs1.27 per unit increase in the fuel price adjustment (FCA) for electricity consumed in April. If approved, the ex-Wapda Discos would charge about Rs13 billion more from consum