The Securities and Exchange Commission of Pakistan (SECP) has issued guidelines for offering Islamic financial services covering all its regulated sectors. The guidelines are framed to facilitate the growth of Shariah-compliant financial products which include Islamic capital markets, Takaful, Modarabas, NBFCs, pension and private funds, REITs, and so on. The guidelines are based on notions
For facilitating the proposed privatisation of power plants on a government-to-government (G2G) basis, the Economic Coordination Committee (ECC) of the cabinet on Wednesday approved changes to the gas sale agreements (GSAs) of three LNG-based power projects in Punjab — Balloki, Haveli Bahadur Shah and Bhikki. A meeting of the ECC, presided over by Finance Minister Ishaq Dar, also allowed Pakist
Despite promises of massive financial help for Pakistan, the rupee failed to put up any resistance and lost another 5 paise against the US dollar in the interbank market on Wednesday. The international community committed to giving Pakistan about $10bn to help it recover from devastating floods. However, Finance Minister Ishaq Dar said that almost 90 per cent of pledges made by the internati
While the poultry crisis has begun to subside after the government released genetically modified soybean and canola seeds that had been stranded at ports, more than 100 containers of onions are held up at ports awaiting extension in duty and tax exemption leading to a further surge in vegetable prices across the country, Dawn learnt from official sources on Wednesday. According to Karachi Port
The World Economic Forum in its global crisis risk report has identified debt crisis, sustained and/or rapid inflation, state collapse, failure of cyber security measures, and concentration of digital power as top five risks faced by Pakistan. In its ‘Global Risks 2023’ report, the global forum said that Pakistan was also among larger emerging markets exhibiting a heightened risk of default. O