Pakistan’s total debt and liabilities surged by 29 per cent, or Rs17.332 trillion in FY23 to reach Rs77.104tr during FY23, compared to Rs59.772tr in FY22, according to the State Bank of Pakistan’s latest data released on Wednesday. However, the gross external debt of the country declined by $6 billion during the same fiscal year, reaching $124.3bn compared to $130.3bn in FY22. The SBP report
To protect the public from falling into debt traps of illegal loan apps, around 120 illegal loan apps that were previously available on Google Play and Apple stores. The measures was taken by the Securities and Exchange Commission of Pakistan (SECP), in collaboration with Google, Apple, and the Pakistan Telecommunication Authority (PTA), in view of the recent proliferation of illegal personal
Located at a stone’s throw from the public beach in Clifton, the offices of For U Real Traders Ltd appeared swarmed with prospective clients looking to double their savings in a short time. Beyond the reception area adorned with a portrait of the Quaid-i-Azam and many works of Islamic calligraphy was a bullpen where a large team of 20-something women worked the phone lines non-stop. Next to it
Reacting to a major increase in petroleum prices by the interim government, business leaders on Wednesday warned that the decision will cause the closure of 50 per cent of industrial units and trigger mass unemployment. They said trade and industry, which are already struggling to survive the power tariff hikes of almost Rs10 per unit, cannot bear the increase of Rs17.50 and Rs20 per litre in t
The benchmark of representative shares demonstrated a puzzling trend on Thursday as trading began on a high note. Topline Securities said the KSE-100 index carried forward the bullish momentum from a day ago and made an intraday high of 395 points or 0.82 per cent. However, an unexpected and across-the-board sell-off in the latter half of the session disrupted the market momentum. As a resu