The Securities and Exchange Commission of Pakistan (SECP) on Wednesday restricted the digital lending platforms from taking coercive measures for recoveries and barred them from shifting borrowers’ data outside Pakistan. The SECP through circular no. 15 has directed the digital lenders that the borrowers’ data cannot be stored on any cloud infrastructure outside the jurisdiction of Pakistan.
Shares at the Pakistan Stock Exchange ended the day in the red on Tuesday, with the benchmark KSE-100 index facing resistance at the 40,000 mark, closing at 39,802.91 — down 352 points or 0.88 per cent. Fahad Rauf of Ismail Iqbal Securities said the investor sentiment was generally weak due to the delay in the International Monetary Fund (IMF) programme. “However, specifically, today the fer
THERE has been a consistent, significant outflow of dollars from Pakistan to Afghanistan ever since the US froze the war-ravaged country’s reserves following the Taliban takeover in summer last year. Until then, Afghanistan had been a notable exporter of dollars — poured into its economy by the US — to Pakistan for years. Thus, the reversal of Afghan fortunes has had a considerable impact on Pakis
Prime Minister Shehbaz Sharif said on Tuesday that the government had “no other option” but to implement the International Monetary Fund (IMF) programme, calling it a “painful reality”. Pakistan entered a $6bn IMF programme in 2019, which was increased to $7bn earlier this year. The programme’s ninth review is currently pending for the release of $1.18bn. It had earlier been put off for two mon
The National Electric Power Regulatory Authority (Nepra) on Tuesday decided to reduce fuel cost adjustment (FCA) for the consumers of K-Electric by Rs7.43 per unit for one month, but increased its base tariff for three months by Rs3.30 per unit to reduce government subsidy. On the other hand, the regulator allowed an increase of about 19 paise per unit for the consumers of ex-Wapda distribution