Aftab Maken ISLAMABAD: Despite a year marked by significant financial resilience and growth in its Islamic banking arm, the National Bank of Pakistan (NBP) is facing increasing scrutiny over its strategic direction, particularly its reduced focus on private sector credit and persistent governance shortcomings. While the bank’s 2024 business plan …
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Aftab Maken ISLAMABAD: Finance Minister Senator Muhammad Aurangzeb on Wednesday chaired a high-level meeting of the committee tasked by the Prime Minister to oversee the closure and privatization of the Utility Stores Corporation (USC). The meeting, held at the Finance Division, focused on ensuring a smooth and transparent wind-up process, …
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Aftab Maken ISLAMABAD: The Finance Division has announced a significant revision in the prices of petroleum products, effective from July 16, 2025. The decision, outlined in a press release issued today, comes following recommendations from the Oil and Gas Regulatory Authority (OGRA) and other relevant ministries. This move is expected …
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Aftab Maken ISLAMABAD: Pakistan’s economy demonstrated notable signs of recovery in fiscal year 2025, driven by strong macroeconomic fundamentals, declining inflation, and a solid current account surplus. The Ministry of Finance’s latest Monthly Economic Update & Outlook reported a real GDP growth of 2.68%, closely aligned with the government’s projection …
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Aftab Maken ISLAMABAD: The Ministry of Finance has finalized a syndicated term finance facility of USD 1 billion. The landmark financing agreement, backed partially by a Policy-Based Guarantee from the Asian Development Bank (ADB), comes under ADB’s flagship reform program titled “Improved Resource Mobilization & Utilisation Reform”, aimed at enhancing …
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Aftab Maken ISLAMABAD: The Federal Board of Revenue (FBR) is proposing stringent measures, including requiring FBR approval for future stock market investments by all, and outright barring non-filers from stock market participation. These proposals, discussed during a recent meeting of the Senate Standing Committee on Finance chaired by Senator Saleem …
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Aftab Maken ISLAMABAD: The Asian Development Bank (ADB) on Monday approved a comprehensive $800 million package aimed at strengthening fiscal sustainability and enhancing public financial management in the country, said an official release of the ADB. The support comes under the Improved Resource Mobilization and Utilization Reform Program (Subprogram 2) …
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Aftab Maken ISLAMABAD: A meeting of the Economic Coordination Committee (ECC) of the Cabinet was held on Monday under the chairmanship of Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, during which the Cabinet body approved significant technical supplementary grants (TSGs) for various ministries and divisions and endorsed several …
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Aftab Maken ISLAMABAD: The federal government has taken a major step towards regulating digital assets and blockchain technologies in Pakistan, as Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired a high-level meeting of the Pakistan Crypto Council (PCC) at the Finance Division on Monday. The meeting focused on …
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Aftab Maken Islamabad: The Federal Board of Revenue (FBR) is facing an escalating crisis, reporting a massive revenue shortfall of Rs 1,027 billion during the first eleven months (July 2024 to May 2025) of the current fiscal year. This alarming gap, which includes a Rs 206 billion deficit in May …
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