In FY23, e-banking transactions constituted 85 per cent of total payments processed by banks and microfinance banks (MFBs), while the remaining 15pc were paper-based, according to the State Bank of Pakistan’s annual report on “Payment Systems Review- FY23”, released on Wednesday. This percentage increased from 80pc for e-banking and 20pc for paper-based transactions in FY22, indicating a gradua
Pakistan’s merchandise exports to the United States persistently declined during the first two months of the current fiscal year, primarily attributed to a decrease in the export of textile products. The exports dipped by 23.77 per cent to $0.934 billion in July-August from $1.22bn in the same period last year, according to the data compiled by the State Bank of Pakistan. In the last fiscal
The government on Wednesday reported the outstanding payables to the Chinese power producers at around Rs360 billion (about $1.25bn) as it pleaded to charge Rs1.83 per unit additional cost from consumers of ex-Wapda distribution companies (Discos) in October. The National Electric Power Regulatory Authority (Nepra), which held a public hearing on the request of the Central Power Purchasing Agen
Share prices fell on Tuesday even though traded volumes made a recovery in a range-bound session. Topline Securities reported the KSE-100 index floated within a small range of 245 points during the trading hours before settling on the lower side. Banks, exploration and production, technology and fertiliser sectors contributed negatively to the index as investors chose to trim their positions
Stockbrokers are going out of business in growing numbers as the brokerage industry faces consolidation amid an increasingly stern regulatory regime. As many as three brokers — formally known as Trading Right Entitlement Certificate (TREC) holders — either requested to surrender or successfully surrendered their trading rights on Tuesday, according to the Pakistan Stock Exchange (PSX). These