Business

Pakistan is facing a challenging situation in the wake of stagflation and acute balance-of-payments crises. The country needs significant additional financing to complete the long-stalled ninth review of the International Monetary Fund’s (IMF) bailout package. On Thursday, during a scheduled press conference, the IMF stated that the commitments of “significant additional financing” are essential before…

Unilever Pakistan hosted an interactive dialogue to discuss the importance of living wages in Pakistan. The session focused on the benefits of fair pay and living wages to businesses, communities, and the country. A living wage accounts for the diverse lifestyle needs of a person in line with their present economic realities so they can…

BankIslami Pakistan Limited (‘the Bank’ or ‘BankIslami’) announced its financial results for the quarter ended March 31, 2023, with an impressive increase of 262% in profit before tax, reaching Rs. 3.16 billion as compared to Rs. 0.87 billion for the corresponding period of the previous year. The profit after tax closed at Rs. 1.79 billion,…

Investing in Pakistan can be a daunting task for Pakistani expats living abroad, despite the fact that they have a deep attachment to their homeland. In the ProPakistani latest podcast, titled “Why Pakistani’s Abroad Struggle To Invest In Pakistan?”, the guest speaker, Tanweer Ahmed, delve into the reasons behind the struggles faced by Pakistani expats…

Pakistan has submitted a revised external financing plan to address a $5 to $6 billion funding gap by the end of June 2023 and requested the International Monetary Fund (IMF) to agree on a staff-level agreement as soon as possible. According to media sources there are differences between the IMF and Pakistani authorities over the…

With the story out that some officials had accessed the National Data Base Registration Authority’s database to seek personal information of the family of the Chief of Army Staff General Asim Munir Shah, questions are being raised about other institutions that have access to the same data, and what have they done to flush out…

In September, another fire incident at the MOL Pakistan-operated Makori oil field resulted in the loss of millions of dollars due to negligence. About six months have gone, and the event has not yet been reported to the appropriate authorities. The silence of relevant authorities has raised several questions. The fire event occurred in the…

Pakistan’s energy sector has received a significant boost with the recent announcement that gas supply from the Sindh field has doubled. This news comes at a crucial time when the country is grappling with a severe energy crisis that has had a profound impact on the lives of its citizens. The Sindh field, operated by…

An entrepreneur by passion and a leader by nature – M. Mubusher Hayat is a role model for perfection, and a paragon of compassion for those striving to climb the ladder of success. The visionary with a Midas touch in real estate continues to build a lasting legacy through a series of breakthroughs, ultimately setting…

Mubadala Energy, the Abu Dhabi-based international energy company, has announced the signing of a Memorandum of Understanding (MoU) with OMV Downstream GmbH (OMV) and Pak-Arab Refinery Limited (PARCO) to explore opportunities in sustainable fuels and feedstock production in Pakistan. Under this agreement the companies will explore the possibility of pursuing projects in circular economy initiatives,…

With the State Bank of Pakistan’s (SBP) reserves at approximately $4 billion, there are concerns that widespread shortages of essential goods, including energy products, could occur if there are no inflows of dollars with the International Monetary Fund (IMF) on board. According to reports, the country currently has stocks of around 30 days of diesel…

Pakistani youth will play a key role in achieving the UNO’s 4RF objective which includes Resilient, Recovery, Rehabilitation and Reconstruction Framework (4RF), said by Rizwan Anwar, the global Youth Ambassador of United Nations and executive director Kinnaird Center for Learning and Cultural Development (KCLCD). Rizwan Anwar also attended the International Conference on Climate Resilient Pakistan,…

Pakistan’s Finance Minister, Ishaq Dar, has sought to allay concerns about the country’s economic stability, stating that it will not default on its debts despite claims from opposition parties to the contrary. Speaking at a ceremony in Islamabad on Wednesday, Dar emphasized the importance of the Stock Exchange and Securities and Exchange Commission of Pakistan…

Pakistan is facing an uncertain economic future as it enters 2023, with a number of challenges and difficulties on the horizon. The country has struggled with rising prices and a deteriorating balance of payments crisis, which has been exacerbated by summer floods and ongoing political uncertainty. These issues have led to a decline in the…

Amid the cold weather and rising inflation, shoppers looking for affordable warm clothing in the country’s “Landa Bazars” will face increased costs due to a tax hike on imported goods. According to a report, the government has raised the tax on imported items such as clothes, blankets, and other warm clothing from Rs81 to Rs225…

Prices play a crucial role in any economy as they serve as signals for both consumers and producers. Consumers rely on prices to make informed purchasing decisions, while producers use them to determine what to produce and where to invest. In Pakistan, the price of many goods is closely tied to the value of the…

Jazz, Pakistan’s leading digital operator and the largest internet and broadband service provider, has developed an App for Seed Distribution for the farmers affected by floods. The app is part of Jazz’s commitment to provide technological support to the government for flood response and relief. It was developed in partnership with the National Flood Relief…

Visa Inc. (NYSE:V), the world leader in digital payments, today shared an updated look at how fraud has evolved since the height of the pandemic, with criminals simultaneously targeting online and offline vulnerabilities as our daily lives return to a blend of in-person and e-commerce experiences. “As in-person commerce returns to pre-pandemic levels, crooks are…

Bank Alfalah, one of Pakistan’s largest digital commercial banks, has introduced a first-of-Its-kind feature to upload updated account information through AskAlfa – a unique Chat platform in Bank Alfalah’s Alfa Mobile App, which enables customers to share their banking queries along with providing easy and fast processing of document. It is the first bank to…

Since mid-June, Pakistan has been experiencing extreme monsoon weather, with rainfall equivalent to 2.8 times the national 30-year average, resulting in extensive floods and landslides and prompting relocation, particularly in the Baluchistan and Sindh provinces. There have been millions of afflicted individuals, hundreds of fatalities, and many more injuries. There is extensive property and public…

With so many real estate projects in Pakistan on the rise, it’s close to impossible to find the most futuristic & tech-enabled, sustainable, and state-of-the-art project that’s worth investing without breaking the bank while also being trust-worthy. Having said that, we’ve recently spotted a project that’s taking Islamabad by storm. Their streamers and outdoor billboard…

A Flag hoisting ceremony was held at Pakistan Bureau of statistics on Sunday,14 August 2022. The Flag hoisting ceremony at PBS Head office began with recitation of Holy Quran followed by National anthem of Pakistan. To mark the 75th Independence Day of Pakistan, Pakistani flag was hoisted and Cake Cutting ceremony was observed by the…