In a groundbreaking move to transform Pakistan into a global leader in digital innovation, the government has announced the allocation of 2,000 megawatts (MW) of electricity in the first phase of a national initiative to power Bitcoin mining and artificial intelligence (AI) data centres. The government recently decided to legalise cryptocurrency to lure international investment in Pakistan. The
The Pakistan Stock Exchange witnessed a volatile session on Thursday, as the benchmark KSE-100 Index lost 778 points, or 0.65 per cent, to close at 119,153. The market remained in consolidation mode, with investors showing caution ahead of the upcoming federal budget. The day began on a strong note, with the index climbing to an intraday high of 120,699 — up 768 points — fuelled by continued
he 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