KARACHI: The International Finance Corporation (IFC) doubled its trade financing program for Pakistan in the fiscal year 2022, with the goal of providing support to critical imports and boosting the country’s economy post-pandemic.  Between the period of July 1, 2022, and June 30, 2022, IFC has invested almost $680 million[...]

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) became the first regulatory body and public sector organisation on Tuesday to launch the WeChat service.  This will facilitate Chinese investors in making informed decisions about investment, and register companies in Pakistan with ease. With the use of WeChat, users can[...]

ISLAMABAD: The International Monetary Fund’s (IMF) representative stated on Tuesday that Pakistan has completed the final prior action required for the IMF agreement’s seventh and eighth review by increasing the Petroleum Development Levy (PDL). The resident representative, Esther Perez Ruiz, issued a statement, stating that ‘with the increase in PDL[...]

ISLAMABAD: The Federal Board of Revenue (FBR) collected a total revenue of Rs458 billion during July 2022, exceeding the set target of Rs 443 billion. According to figures released by the board, the last month of the fiscal year exceeded the monthly revenue target by Rs15 billion, representing an increase[...]

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) stated on Monday that it plans to launch digital asset management companies (AMCs) to promote financial inclusion and ease the process of investment.  The regulatory agency has published a related concept paper on its website for public information, according to which[...]

DUBAI: Dubai’s real estate market recorded 8,897 monthly sales transactions worth Dh22.75 billion, the highest volume reported for the month of June since the past nine years. Property consultant Betterhomes reported that, in the first half of the year, there was a 60% surge in residential real estate transactions, with[...]

ISLAMABAD: The Rawal Dam flyover project has entered its final stages as the project is set to be completed by the end of September. According to the Capital Development Authority (CDA), most of the filling work has been completed on both ramps of the flyover, with further instructions for compaction[...]

Defense Housing Authority Lahore has issued a final public notice of cancellation to allottees who have not payed their dues. The DHA administration has stated that the notice issued earlier had given a date of June 30, 2022 for payment of dues.  In the recent notice issued by the DHA[...]

ISLAMABAD: Pakistan Tehreek-e-Insaaf (PTI) Chairman Imran Khan has agreed to sign a Charter of Economy (CoE) to save the country from the current economic crisis. The Rawalpindi Chamber of Commerce and Industry (RCCI) has drafted the Charter of Economy.  In a meeting with the RCCI, Khan expressed his willingness to[...]

ISLAMABAD: The Capital Development Authority (CDA) has cancelled the licences of 14 housing societies that failed to register with the district administration. The societies were required to register in the districts they were located. Since they failed to comply with the requirements set in place by CDA, their licenses have[...]