92% of Pakistan's Retail Payments Digital: Central Bank
Digital channels accounted for 92% of Pakistan's 3.7 billion retail payment transactions in Jan-Mar 2026, the State Bank of Pakistan reported, highlighting the shift toward electronic payments.
Category : Banking Sector
FIA Arrests Five for Illegal Human Organ Trade in Islamabad
FIA arrests five suspects, including three Chinese nationals, in Islamabad for illegal human organ trade; placenta recovered, exported to Vietnam mislabeled as sheep organs.
Trump Blocks Housing Bill Over Voter ID Demands
President Trump sabotaged a bipartisan housing bill at the last minute, demanding Congress pass his voter ID measure, the SAVE America Act, which lacks Senate support.
IMF: Energy Prices Fall After US-Iran Deal, Normalization Slow
The IMF reports falling energy and commodity prices after the US-Iran ceasefire, but warns full normalization of trade and prices will take time, especially impacting developing countries.
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Man Arrested for Axing Brother Over Mobile Charger
Rawalpindi police arrested Muhammad Ashfaq for allegedly killing his elder brother with an axe over a mobile charger dispute in Dhoke Syedan on June 20.
ACE Arrests Assistant Manager for Bribery at Bus Terminal
Anti-Corruption Establishment arrested Tipu Sultan, assistant manager at Pirwadhai Bus Terminal, for taking Rs100,000 bribe from a transporter. Arrest made with marked currency.
Pakistan Budget Deficit Cut to Rs5.2 Trillion
Pakistan projects budget deficit at Rs5.2 trillion (3% of GDP) for outgoing fiscal year, down from Rs6.5 trillion, after reducing expenditures and tax targets.
Pakistan's Digital Payments Surge in Q1 2026
SBP reports 3.7B retail payments worth Rs168.8T in Q1 2026, with 92% via digital channels. Mobile apps dominate with 2.9B transactions. Raast processes 742M transactions.
FIA Case Against Go Petroleum, TOL Over Rs 32bn Tax Evasion
The FIA has registered a criminal case against Go Petroleum and TOL for allegedly evading billions in taxes and petroleum levy by illegally selling bonded petroleum products from Customs warehouses.
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Pakistan, Iran to Activate Transport Committee for Trade
Pakistan and Iran have agreed to fully activate the Joint Transport Committee to resolve logistics issues and enhance bilateral trade and regional connectivity, following high-level talks in Islamabad.
Silver Price Plunges 50% from Peak, Risks More Losses
Silver has lost roughly half its value since January's all-time high, dropping over a third against gold, and data suggests it may spark further losses against the yellow metal.
Pakistan FDI Paradox: Optimism Up, Ranking Down
73% of foreign investors in Pakistan recommend it for new FDI, up from 61% in 2023, but the country slipped to 9th in large-scale investment preference, exposing structural hurdles.
Pakistan GDP Growth at 3.1% Threatened by Energy Shock
Pakistan's GDP growth stands at 3.1% this fiscal year, but a global energy shock threatens to drag it down to 2.8%, with inflation at 9% and extreme poverty rising to 21.1%, warns Lahore School of Economics report.
Dubai's Secret Crisis Meeting to Shield Economy from Iran Conflict
Dubai held a secret meeting with business leaders in March to counter economic fallout from Iran's strikes, leading to a $681M support package, but recovery remains slow.
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Apple Hikes iPad and MacBook Prices on Memory Chip Costs
Apple raised iPad and MacBook prices due to soaring memory chip costs from AI data center demand, with the MacBook Air 512GB rising to $1,299 and the iPad Air 128GB to $749.
Pakistan Turkiye Sign Three MoUs for Energy Cooperation
Pakistan and Turkiye signed three MoUs to boost institutional cooperation, technical collaboration, and knowledge exchange in energy, covering governance, market development, and digitalisation.
Pakistan Railways Outsources Only 5 of 15 Trains
Pakistan Railways successfully outsourced only 5 of 15 passenger trains in an auction, with 10 trains failing to attract bidders due to high benchmark rates and viability concerns.
'House of Fidelity' Review: Johnson Dynasty and Wall Street
Veteran journalist Justin Baer's 'House of Fidelity' chronicles the Johnson family's New England dynasty, from founder's bold leap to Peter Lynch's rise and succession battles, reshaping Wall Street.
RCB Approves Rs7.21 Billion Budget for 2026-27
The Rawalpindi Cantonment Board has approved a Rs7.21 billion budget for 2026-27, allocating Rs1.1 billion for development and Rs3.3 billion for salaries, pending final approval from the Director Military Lands and Cantonments.
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Rabitabank Signs USD 10 Million Trade Finance Deal with ITFC
Rabitabank signed a USD 10 million trade financing agreement with the Islamic Trade Finance Corporation (ITFC) during the IsDB Group's 51st Annual Meetings in Baku, aiming to support SMEs and alternative financing in Azerbaijan.
80,000+ Register for Hajj 2027 in Three Days
Over 80,000 pilgrims registered for Hajj 2027 in the first three days, with Karachi as top departure point, as the Ministry of Religious Affairs continues the mandatory online process.
Telecom Bill Changes Recommended to Safeguard Property Rights
A PM-appointed committee has recommended changes to Pakistan's telecom bill to require explicit owner consent for property access, after lawmakers raised constitutional concerns.
Streamer Johnny Somali's Appeal Rejected, Prison Term Upheld
Controversial streamer Johnny Somali will remain in prison after a South Korean court rejected his appeal, upholding a six-month sentence for offenses including public disturbances and disrespecting a war memorial.
Pakistan Carbon Market Deal With Norway Needs Budget Action
Pakistan signed a carbon market deal with Norway but allocated no budget for implementation. Climate levies raise Rs2 trillion, yet only 10.6% funds climate action.
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Iraq Threatens OPEC Exit Over Quota Dispute, Sources Reveal
Iraq will consider all options, including a potential exit from OPEC, if its quota is not significantly increased, a senior Iraqi oil ministry official told Reuters.
Ex-JPMorgan Exec Fined for Taking NYC Sanitation Bin
A former JPMorgan Chase executive, Angie Baez, was fined $175 for taking a Knicks-themed sanitation bin during NBA championship celebrations in New York City.
Gen Z Drives Surge in Pakistan Stock Market Investors
Pakistan's Gen Z accounts for over 41% of new retail investors at PSX, with 74,629 new accounts opened by those aged 18-30 in the past fiscal year, seeking wealth creation and escape from traditional jobs.
PSX KSE-100 Surges 1,878 Points to 179,571
The KSE-100 index gained 1,878 points (1.06%) to close at 179,571.27, with trading volume rising to 851 million shares worth Rs40.381 billion.
Pakistan Gold Imports Down 47.79% in 11 Months
Pakistan's gold imports declined 47.79% to $16.09 million during July-May 2025-26, from $30.817 million last year, according to PBS. Quantity fell 21.65% to 306 kg.
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Chinese Investors Back Pakistan Capital Markets Reforms
Chinese strategic investors in PSX have expressed strong confidence in Pakistan’s capital markets and welcomed recent SECP reforms under Chairman Dr Kabir Ahmed Sidhu.
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