The Ministry of Finance released its flagship report — the Pakistan Economic Survey — on Thursday as the economy moves towards recovery despite the ongoing pandemic. The survey provides a positive outlook of the economy with the most economic impetus being attributed to external resources aided by local factors like large scale manufacturing, agriculture, and …

Manufacturing, Agriculture and Construction Industries Aided Economic Recovery Read More »

In order to promote investment in the real estate sector through Real Estate Investment Trusts (REITs), the SECP has introduced a new Public-Private Partnership (P3) model under REITs, besides completely revamping the regulatory framework for REITs. The amendments have shifted the regulatory structure from approval-based to disclosure-based issuance, reducing entry barriers for new REITs, making …

SECP Revamps REIT Regulations to Promote Real Estate Activity in Organized Sector Read More »

The State Bank of Pakistan (SBP) has maintained relaxed terms and conditions for customers to operate bank account by the end of 2021, considering the intensity and ongoing impact of the COVID-19 pandemic in the country. The relaxations will not only facilitate customers of the bank but also allow financial institutions, including microfinance banks, and …

SBP Maintains Relaxation for Bank Accountholders Amid COVID-19 Pandemic Read More »

The Securities and Exchange Commission of Pakistan (SECP) on Thursday informed National Assembly Standing Committee on Finance that the existing Appellate Bench of the Commission would be replaced with an independent “Financial Services Market Tribunal” for hearing appeals against orders passed by the SECP. The SECP officials informed the committee during an in-camera briefing held …

SECP to Replace Appellate Bench With Financial Services Market Tribunal Read More »

The Islamabad-based fintech startup, TAG Innovation Pvt., will start operations this month as Pakistan’s first digital bank. The fintech will begin with a limited number of customers and will start to scale up commercially within the next two to three months, its Chief Executive Officer (CEO) Talal Gondal said in an interview with Bloomberg. This is …

Pakistan’s First Digital Bank to Start Operations in June Read More »

The State Bank of Pakistan (SBP) released its Business Confidence Survey report for April 2021. This is the 22nd survey in the series and includes 467 firms. Overall Business Confidence The Overall Business Confidence remained in the positive zone for the 5th consecutive wave. However, the value of the index was lower in the latest BCS …

SBP Business Confidence Survey Shows A Mixed Picture Read More »

To end harassment during the audit of taxpayers, the Federal Board of Revenue (FBR) has introduced a new kind of concept of E-Audit eliminating direct interaction between the audit officer and taxpayer selected for audit. The FBR intends to implement online audit (e-audit) proceedings, which is aimed at facilitating taxpayers for attend hearing without going …

FBR Set to Launch E-Audit System Read More »