The International Monetary Fund (IMF) has raised objections to Pakistan’s plan to directly borrow from local commercial banks in relaxation of competition rules, resisting the move that might cause distortion in the debt market. The objections were raised during a meeting held on Monday between Pakistani authorities and an IMF team, according to sources. The IMF did not endorse federal cabinet’
Share prices closed on the lower side on Tuesday as investors reacted negatively to the news report that the International Monetary Fund (IMF) requires assurance on financing the expected gap in the balance of payments in 2022-23. Analyst Ahsan Mehanti said the ratings’ downgrade by Moody’s of five banks along with a slump in textile exports, which dropped 28 per cent to $1.2 billion in Febru
Trukkr, a fintech platform for Pakistan’s trucking industry, said on Tuesday it had raised $6.4 million in a funding round and also received a non-banking financial company (NBFC) licence. Trukkr offers small and medium-sized trucking companies a transport management system and supply chain solutions, and is unique in providing fintech to digitise the largely unbanked and undocumented industry.
The National Assembly Standing Committee on Commerce on Tuesday approved Trademarks (Amendment) Bill 2023 to facilitate local brands to protect their logos in more than 130 countries. The committee meeting, chaired by its chairman Khursheed Ahmed Junejo, after detailed deliberations approved minor amendments to the Trademarks Ordinance 2001 required under the Madrid Protocol, which Pakistan joi
The central government debt jumped by Rs4 trillion, or around 7.7 per cent, in January to reach close to Rs55tr, the State Bank of Pakistan (SBP) data showed on Tuesday. The figure was Rs42.39tr in January 2022, which means it has increased by 30pc over the past year. Meanwhile, domestic debt rose to Rs34.3tr by end-January, 3.4pc higher than it was a month ago and around 25pc higher than th