Banks seem to have hit the brakes on deposit mobilisation in December, a rare development that analysts attribute to the lenders’ attempt at reducing their tax bills. In a break from the past when bankers would hustle for deposits at the end of the calendar year to meet performance targets, the annual pace of deposit mobilisation slowed down to 7.1 per cent for 2022, down from 17pc for 2021.
The government has no plans to sell Roosevelt Hotel in New York and is instead seeking a joint venture for a mixed-use development. This was revealed by the Privatisation Commission in a briefing to the Senate Standing Committee on Privatisation on Thursday. The commission said the terms of reference for the process have been sent to the aviation division and a decision was awaited. The deci
Pakistan on ThursÂday secured a lifeline of about $4 billion from the United Arab Emirates and Saudi Arabia to sail through the immediate challenge of a sovereign default amid rapidly shrinking foreign exchange reserves, massive flood damages and an overall economic slowdown. Two separate official announcements said the UAE pledged to roll over $2bn debt payable over the next two months and top
Pakistan has secured over $3 billion in fresh funding from multilateral lenders on concessional terms and the inflows will start during the current fiscal year. The international lenders granted this significant loan at about 1pc interest rate with a repayment period of 40 years during the recent donor conference held in Geneva. Secretary Planning Zafar Ali Shah told journalists that the int
Just when the prices of wheat flour are soon going to ease, following a merciless upward trend witnessed over the past few months, another fundamental kitchen commodity started to become costlier for a people badly battered by the inflation. Prices of pulses are going up, thanks to the non-clearance of imported consignments at the port due to a delay in the approval of relevant documents by ban