SECP approves a Strategic Action Plan to foster Islamic finance growth and eliminate Riba by 2028.The Securities and Exchange Commission of Pakistan (SECP) has approved a Strategic Action Plan 2024-2026 to facilitate the growth and development of Islamic finance in non-bank financial sectors. The plan was prepared by the SECP's apex committee, chaired by Mujtaba Ahmed Lodhi, Commissioner-SCD, and
The All Pakistan Textile Mills Association (APTMA), Southern Region, has sounded the alarm over the misuse of the Export Facilitation Scheme (EFS), warning of widespread closures and mass unemployment in the domestic textile industry. In a statement issued Monday, APTMA highlighted how the scheme, which exempts imported cotton and blended yarns from sales tax and duties, is being exploited. Ins
US Charge D'Affaires Natalie Baker has said that the economic relationship with Pakistan is important for the United States, which has continued to invest in the South Asian nation. "We recognise Pakistan's enormous potential. It is one of the world's most populous countries, with a growing and dynamic young population," she remarked while speaking at the Fifth Pakistan-America Business Forum,
Pakistan recorded a significant inflow of workers' remittances amounting to $2.9 billion in November 2024. This represents a remarkable year-on-year (YoY) growth of 29.1% compared to November 2023, highlighting a robust increase in the contributions of overseas Pakistani workers. According to the State Bank of Pakistan (SBP), cumulatively, workers' remittances for the first five months of the f
The government has decided to sell a business unit of Pakistan International Airlines (PIA) to the Pakistan Air Force for Rs2.5 billion in cash, which is equal to one-fourth of the price that a sole bidder offered for acquiring 60% shares in the national flag carrier. The total sales value of Precession Engineering Complex (PEC) is Rs6.5 billion, including Rs4 billion in pensions-related liabil