The Tariq Bajwa-led inquiry Committee has proposed the Federal Board of Revenue (FBR) to establish a dedicated enforcement force for the Track and Trace project whose sole task should be to carry out effective enforcement which is critically needed f…
PM Orders Secretary Finance to Identify Officials Involved in Delaying Track and Trace System
Prime Minister has tasked Secretary Finance Imdad Ullah Bosal to identify officials involved in the delay in implementation of the Track and trace System.
Sources informed ProPakistani that the PM on Friday during this cabinet meeting showed dissati…
PM Shehbaz Sharif Removes Over Dozen FBR Officials for Non Compliance
The federal government has started to take punitive action against officials of the Federal Board of Revenue (FBR) just before the budget preparation exercise for the next fiscal year.
The major reshuffle has reportedly taken place as Prime Minister…
Prime Minister Transfers Several FBR Grade 21 and 22 Members Due to Non-Compliance
The federal government has started to take punitive actions against officials of the Federal Board of Revenue (FBR) for a non-compliance attitude of senior management just before the budget preparation exercise for 2024-25.
FBR has placed 12 grade 2…
Standard Chartered Pakistan Explains Reason Behind Recent Increase in Share Price
Standard Chartered Bank (Pakistan) Limited (PSX: SCBPL) has attributed the recent ‘unusual movement’ in its share price to the bank’s strong financial performance in the calendar year ending December 31, 2023 (CY23).
‘We understand that the positive…
Bad Loans Rise Sharply Over Rs. 1 Trillion in 2023
Non-performing loans (NPLs) disbursed by the banking industry surged by more than Rs. 70 billion in 2023, the latest data by the State Bank of Pakistan (SBP) showed.
In 2023, bad loans by the sector surged to Rs. 1.009 trillion, up by Rs. 71.3 billi…
Pakistan Just Got $6.9 Billion in Foreign Loans During Tough 9 Months of FY24
The country borrowed just $6.899 billion from multiple financing sources during the first nine months (July-March) of the current fiscal year 2023-24 compared to $7.764 billion borrowed during the same period of 2022-23, representing 39 percent of th…
MCB Bank to Convert 39 Branches Into Islamic Banking Entities
MCB Bank Limited (PSX: MCB) has approved the Scheme of Compromises, Arrangements and Reconstruction for converting 39 branches into Islamic banking entities, the bank informed the main bourse on Wednesday.
According to stock filing, the scheme has e…