Remittances Rise 9.21% to $38.1 Billion in 11 Months
Workers' remittances to Pakistan increased by 9.21% to $38.1 billion in July-May FY2025-26, with May inflows up 15.35% year-on-year to $4.251 billion.
Category : Banking Sector
DPC Doubles Deposit Coverage to PKR 1 Million per Depositor
The Deposit Protection Corporation releases its fifth annual report, doubling deposit coverage to PKR 1 million per depositor per bank and surpassing PKR 200 billion in its protection fund.
FIA Recovers Rs23.7 Million from Food Controller in Flour Case
The FIA has launched an inquiry into District Food Controller Allah Bachayo for alleged embezzlement of Rs38.44 million from seized flour. Rs23.784 million was recovered from his bank account, with Rs14.65 million still demanded.
BISP Generates Rs2.34 Income Per Rupee Transferred
A new study reveals BISP generates Rs2.34 in real income per rupee transferred, reaching 10.2 million households and supporting 1.66 million jobs in Pakistan.
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Pakistan-Germany Trade: Untapped Potential, Ambassador Says
German Ambassador Ina Lepel highlights untapped trade potential between Pakistan and Germany, citing regulatory challenges, while LCCI calls for enhanced cooperation in key sectors.
Ex-JPMorgan Employee Restarts Legal Battle with Federal Suit
Chirayu Rana withdraws state suit, plans federal complaint with new evidence against former supervisor Lorna Hajdini, alleging broader misconduct.
PSDF, BOP Sign Deal for Parwaaz Card Overseas Employment Scheme
PSDF and Bank of Punjab sign agreement to operationalize Chief Minister's Parwaaz Card Scheme, providing interest-free loans up to Rs 1 million for youth seeking overseas jobs.
World Bank downgrades Pakistan tax programme to moderately satisfactory
The World Bank has downgraded its $400 million Pakistan Raises Revenue programme to 'moderately satisfactory' due to slow progress in enhancing revenues and simplifying the tax system, highlighting the need for political will over foreign funding.
Pakistan trade deficit widens 17.48% to $34.76bn
Pakistan's trade deficit widened by 17.48% to $34.76 billion in 11 months of FY26, driven by energy imports and weak exports. The upcoming FY27 budget faces challenges.
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FIA Arrests 4 in Lahore for Hawala-Hundi and Copyright Acts
FIA Lahore arrested four suspects in separate raids for hawala-hundi and copyright violations, recovering Rs20.4 million, foreign currency, and counterfeit goods.
FIA Arrests Two Suspects in Illegal Kidney Transplant Network
FIA arrests two key suspects in an illegal kidney transplant network, uncovering forged approvals and exploitation of poor donors.
Bank Account Deactivation Over Expired NICOP Causes Hardship
An overseas Pakistani citizen faces account deactivation at HBL due to his wife's expired NICOP, despite her valid passport. He appeals for rule flexibility.
FBR Assigns Additional Charge to 27 Senior Officers
The FBR has assigned additional charge to 27 senior Inland Revenue Service officers to improve tax collection and efficiency. The interim postings are for three months in major cities.
NAB freezes $4.5m in Mauritius accounts linked to Bahria Town
Pakistan's NAB has frozen $4.5 million in foreign bank accounts in Mauritius linked to Bahria Town as part of a money laundering crackdown under the Anti-Money Laundering Act, 2010.
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Capacity Payments for IPPs: Unlawful Extensions and Debt
Analysis of the 1994 Power Policy reveals IPPs received unlawful contract extensions and continued capacity payments without transferring ownership, fueling circular debt.
PIA Appoints New CFO Ahead of Consortium Takeover
Private consortium appoints Mushtaq Rana as PIA's new CFO, signaling major restructuring ahead of potential takeover. Rana brings international experience from Saudi airline.
Karachi Small Traders Welcome New 1% Turnover Tax Plan
Small traders in Karachi welcome the federal government's 1% turnover tax and fixed tax scheme for businesses with annual turnover up to Rs200 million, expecting relief from complex tax issues.
Pakistan unveils fixed tax scheme for small shop owners
Finance Minister Aurangzeb announced a fixed tax scheme for small traders with 1% rate, minimum Rs25,000 payment, and exemption from POS machines to broaden the tax net.
Excise Dept, Gold Traders Discuss Tax Issues in Peshawar
The Excise, Taxation and Narcotics Control Department held a meeting with Peshawar Goldsmiths Association to address property tax concerns and enhance coordination.
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Mir Nadir Ali Abro Promoted to Director ACE Sindh
Senior police officer Mir Nadir Ali Abro has been promoted to Director of ACE Sindh. Known for his integrity, he is the son of late intellectual Comrade Taj Muhammad Abro.
Meezan Bank Crosses Rs1 Billion in Housing Finance
Meezan Bank's Easy Home Housing Finance surpasses Rs1 billion in disbursements under PM's Apna Ghar program, boosting affordable homeownership in Pakistan.
US Cities Pay More for Sprawling Housing, Study Shows
A new study reveals that compact housing development saves American cities money on infrastructure and property taxes, challenging the dominance of suburban sprawl.
India, US Resume Trade Talks, Expect Deal 'Soon'
India and the US have nearly concluded the first phase of a new trade deal, with talks ongoing in New Delhi. The deal aims to reduce tariffs and boost bilateral trade.
Pakistan Seeks Saudi Help for Digital Health Records System
Pakistan is in talks with Saudi Arabia to introduce a nationwide digital health records system, aiming to unify patient data and improve healthcare management.
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Foreign Investors Urge Pakistan Tax Cuts Amid Tensions
OICCI recommends Pakistan reduce taxes for manufacturers and salaried workers in upcoming budget, citing regional tensions and examples from Turkey and Sri Lanka.
Pakistan's Pine Nut Exports to China Surge Nearly 100%
Pakistan's pine nut exports to China nearly doubled from 2023 to 2025, driven by Chinese demand. Exports rose from 579.8 tons to 1,147 tons, with earnings peaking at $18.8 million.
Pakistan Seeks Saudi Investment in Ports Amid Maritime Ambitions
Pakistan's maritime minister presented investment prospects in ports, shipping, and logistics to Saudi business leaders, aiming to boost maritime trade and regional transit hub status.
Indonesia Arrests Ex-Meals Program Chief Over Graft
Indonesia arrested the sacked head of its free school meals program, Dadan Hindayana, over corruption and food poisoning allegations. He was fired Tuesday.
Contract employees entitled to pension after long service: SC
The Supreme Court ruled that contract employees serving permanently for prolonged periods cannot be denied pension rights, calling pension a recognized right for old-age security.
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Rawalpindi Water Project Bids Evaluated
Technical evaluation of six bids for Rawalpindi's Dream Water Supply Project-I completed, report sent to ADB for approval. Financial bidding next, contract award expected within a month.
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