In a move to encourage exporters of software and IT&IT-enabled services to bring more dollars into the country, the State Bank of Pakistan (SBP) has allowed 35 per cent retention of their earnings outside the country. For meeting this objective, the SBP has amended the Foreign Exchange Regulations and advised the banks to mandatorily allow, till March 31, 2023, retention of 35pc of their export pr
The banking sector will be exposed to a “systemic risk” should the prevailing uncertainty continue for another few months, Habib Bank Ltd CEO Muhammad Aurangzeb said on Friday. Speaking at a summit on financial crimes, the CEO of the largest commercial bank warned the participants about a “big blow to the economy” if the stakeholders didn’t make the right decisions swiftly. “Even the smalles
Eggs for breakfast are pretty universal. Be it the tycoons cocooned behind electric fences and guards in fortresses in Defence or the lower-middle income chap who has a quick bite in the morning before setting off on his two-wheeler, omelettes are a fairly ubiquitous breakfast. A quick informal poll reveals that the most common omelette type is one with two eggs, some onion, and a tomato. Using
After securing a $4 billion lifeline from friendly Arab countries, the government will be prioritising the revival of the International Monetary Fund (IMF) programme to ensure that other multilateral entities keep the pipeline flowing amid unending political uncertainty. Walking on a tightrope, the multi-party coalition appears to be struggling to take further inflationary measures ahead of loomin
For the last few decades, Pakistan’s agriculture sector has become the happiest hunting ground for crises. Going from one crisis to the next, the entire sector is operating in a firefighting mode and that too without any policy or regulatory effort on the part of the government, allowing the market to determine and extract its windfall. The latest example is of fertiliser. In the last few years