The policies of Pakistani commercial banks regarding the environment, social and governance (ESG) risk mitigation lack transparency and lack a tangible action plan, according to Fair Finance Pakistan. In a press release, the Pakistan chapter of Fair Finance International (FFI) — a civil society coalition campaigning for responsible banking practice — said financial institutions “are evolving” t
The increasing scale of smuggling of petroleum products has brought the country’s oil supply chain — from import to refineries and from marketing companies to pipeline transport network — to its knees. With a massive drop in registered sales, the country’s oil industry has sought emergent action from the prime minister and other state agencies to stop the smuggling of petroleum products that th
The continued stability in the exchange rate has made treasury bills (T-bills) attractive for foreign investors, as increased inflows noted during the first 15 days of the current month, according to sources in the financial sector. State Bank of Pakistan’s latest data shows that market treasury bills attracted $13.863 million during the first 15 days of March FY24. Financial market experts
With a four-year delay, the Federal Board of Revenue has set a July 1 deadline to implement the decision to connect professional services online with tax machinery across the country. The first draft rules for the plan were published on Dec 22, 2023. These proposed rules were later changed by another notification SRO428 of 2024, which established a precise time frame for implementing the decisi
Prime Minister Shehbaz Sharif while taking notice of delays in the implementation of Trace and Track System (TTS) in tobacco, sugar, cement and fertilizer industries on Monday ordered immediate action against tax defaulters and evaders. The premier issued directives to the authorities concerned to form a committee to identify the hurdles in the implementation of TTS and those involved in tax th