Inflows under Roshan Digital Accounts (RDAs) — a banking facility reserved for non-resident Pakistanis — clocked in at $146 million in October, a decline of 13.1 per cent compared to last month’s $168m and the lowest since December 2020, according to data shared by the State Bank of Pakistan (SBP).In December 2020, inflows had amounted to $140m. Meanwhile, 13,850 new accounts were opened in Oct
The World Bank (WB) has agreed to provide more than $3 billion to Pakistan for infrastructure development in the energy sector, according to a press release issued by the Power Division on Monday. The international lender will also provide assistance in the Dasu hydropower project. “The World Bank is assisting in energy efficiency and conservation programmes, apart from helping provinces in ins
Dewan Farooque Motors Ltd said on Monday it’s signed a technology transfer agreement with Kia Corporation of the Republic of Korea for the production/assembly of vehicles. The announcement resulted in an increase in the automaker’s stock by 2.24 per cent from the preceding day to Rs11.41, even though the company is on the exchange’s defaulter counter. The company made a net loss of Rs105 mil
A subsidiary of TPL REIT Management Company Ltd has received approval for a master plan to build a gated residential community on 40 acres in Korangi Creek at an estimated cost of “more than Rs200 billion”. The project will be built under the country’s first infrastructure-based real estate investment trust (REIT), which operates like any other property-owning company but offers more transparen
The business community representatives have claimed that Pakistan will soon have a 10-year extension in the GSP+ status starting from Jan 1, 2024 to December 2034, as the EU has agreed to do so. They have criticised the federal government and the Drug Regulatory Authority of Pakistan (DRAP) for allowing the import of finished products from China and India which is disastrous for the local pharm