KARACHI: For Pakistanis, there are many faults in our banks — unnecessary documentation for basic procedures like account opening, inordinate disruptions in digital services, arcane regimes to stifle business growth and lack of appetite to facilitate users, to name but a few. Apparently, there is an addition to the list: exorbitant exchange rates on foreign transactions. And as happens in ti
Bulls made a comeback to the Pakistan Stock Exchange on Wednesday after three gloomy sessions. Arif Habib Ltd said the benchmark of 100 representative shares stayed at a higher level as investors chose to cherry-pick stocks at appealing rates. It added that investors’ participation grew dramatically after the State Bank of Pakistan governor issued a “much-needed” clarification on the issue
The Abu Dhabi Fund for Development (ADFD) has rolled over a $2 billion deposit with the State Bank of Pakistan (SBP) that was payable over the next two months, Finance Minister Ishaq Dar confirmed on Wednesday. In a late-night tweet, he stated, “Abu Dhabi Fund for Development (ADFD) has rolled over their deposit of $2 billion with State Bank of Pakistan, as discussed by [PM Shehbaz Sharif] with
Despite a substantial cut in mill rates, retailers continue fleecing flour consumers by charging higher prices for different varieties due to the Sindh government’s weak regulatory mechanism. Meanwhile, improved supplies have brought down the prices of tomatoes and potatoes, but onions and pulses maintained a rising trend. Makers of Ashrafi have slashed the rates of 5kg and 10kg fine flour b
As the government scrambles to save every penny and introduce cost-cutting measures, Prime Minister Shehbaz Sharif added another special assistant to his cabinet. The already hefty cabinet has now swelled to 77 with the induction of Fahd Haroon who was appointed special assistant to the prime minister. “The Prime Minister … has been pleased to appoint Mr. Fahd Haroon, as Special Assistant