Pakistan International Airlines (PIA) is preparing to restart direct flights to the United States, a move that could mark a significant milestone in the airline’s recovery. The U.S. Federal Aviation Administration (FAA) is set to conduct a final clearance inspection in mid-March, paving the way for the resumption of flights. FAA Inspection and Category 1 […]
Meezan Bank (MEBL) has reported an all-time high profit of Rs. 101.5 billion for the year 2024, reflecting a 20% year-on-year (YoY) increase. The earnings per share (EPS) stood at Rs. 56.5, cementing its position as a leading player in the banking sector. Q4 2024 Performance Despite the strong annual performance, Meezan Bank’s fourth-quarter earnings […]
A delegation from the International Monetary Fund (IMF) met with Chief Justice of Pakistan Yahya Afridi to discuss ongoing judicial reforms. The IMF team lauded the efforts aimed at enhancing judicial efficiency and transparency. Focus on Governance and Accountability The meeting centered on initiatives to strengthen governance and accountability within Pakistan’s judicial system. Discussions included […]
Islamabad, February 13, 2025 — In a significant move to bolster bilateral relations, Pakistan and Turkey have signed 24 Memorandums of Understanding (MoUs) covering various sectors, including defense, trade, and education. The agreements were inked during Turkish President Recep Tayyip Erdogan’s two-day visit to Islamabad. Pakistan and Turkey have a history of strong diplomatic and […]
Islamabad, February 12, 2025 – In a positive development for car buyers, Federal Board of Revenue (FBR) Chairman has announced policy changes aimed at reducing car prices for budget-conscious consumers. This move comes as the government pushes for greater accessibility to vehicles while ensuring compliance with tax regulations. Major Announcements for the Auto Industry The […]
Karachi, February 12, 2025 – The Federal Board of Revenue (FBR) has revised property valuation rates across various localities in Karachi, aiming to align official property values with the actual market rates. This move is expected to impact real estate transactions, tax calculations, and overall market dynamics. Key Updates in Property Valuation The revised rates […]
Islamabad, February 12, 2025 — The federal government has established a seven-member inquiry committee to investigate the financial repercussions faced by Pakistan International Airlines (PIA) due to the 2020 pilot license scandal. Background of the License Scandal In 2020, revelations surfaced regarding pilots possessing dubious licenses, leading to significant operational and reputational challenges for PIA. […]
Karachi, February 12, 2025 — In a significant development for Pakistan’s financial markets, five additional companies from the Pakistan Stock Exchange (PSX) have been incorporated into the Morgan Stanley Capital International (MSCI) indices. This move underscores the growing confidence of international investors in Pakistan’s economic resurgence. New Entrants to MSCI Indices The latest additions to […]
Key Development in Bailout Talks After prolonged discussions, the International Monetary Fund (IMF) is set to announce a date for Pakistan’s bailout review, following a significant breakthrough in Sindh’s new agriculture tax legislation. Reforming Agricultural Taxation The new tax law aims to increase provincial revenue, aligning with IMF conditions for financial aid. The policy is […]
Pakistani travelers planning to visit Germany in 2025 must adhere to the latest financial requirements for obtaining a Schengen visa. As part of stricter visa policies, Germany now requires applicants to submit an updated bank statement to prove sufficient funds for their stay. Understanding the Schengen Visa for Germany Germany, a key member of the […]
A Step Towards Sustainable Transportation Chief Minister Punjab has inaugurated Lahore’s first-ever electric bus service, marking a major step in the province’s green transportation initiative. This eco-friendly project aims to reduce carbon emissions, cut fuel costs, and improve urban mobility in the bustling city. Features of the Electric Bus Service The launch of the electric […]
Real Estate Investors Demand Clarity Overseas Pakistanis have voiced strong opposition to the recent decision requiring property transactions in Islamabad’s new sectors to be conducted in US dollars. Many expatriates have raised concerns about currency fluctuations, economic instability, and the additional financial burden this policy imposes. Key Issues Raised by Overseas Investors The real estate […]
Consumers Face Continued Fuel Price Hikes The federal government has announced an increase in petrol and diesel prices for the next fortnight, marking the third hike in just over 30 days. Effective February 1, the price of petrol has been raised by Re1 per litre, bringing it to Rs257.13 per litre, while high-speed diesel (HSD) […]
Market Rebounds with Significant Gains The Pakistan Stock Exchange (PSX) experienced a robust rally on Friday, with the benchmark KSE-100 index climbing 1,049.32 points, closing at 114,255.72. This surge reflects a 0.93% increase from the previous close of 113,206.40. Investor Optimism Drives Market Upturn Analysts attribute this positive momentum to renewed investor confidence, particularly in […]
US Aid to Pakistan: The 90-Day Suspension In a recent development, the United States has ordered a temporary halt to its aid to Pakistan for 90 days. This suspension is part of the ongoing geopolitical discussions and is linked to a broader review of foreign aid policies under the Trump administration. Impact of the Suspension […]
A Chinese firm, ADM Group, has announced an ambitious plan to install 3,000 electric vehicle (EV) charging stations across Pakistan, aiming to accelerate the country’s shift toward green energy while creating employment opportunities. Boosting Pakistan’s EV Infrastructure A delegation from China’s ADM Group recently met with Sindh Energy Minister Nasir Hussain Shah and other key […]
Atlas Honda Limited (PSX: ATLH) has reported a remarkable 75% increase in profit for the nine months ending December 31, 2024, highlighting the company’s strong financial performance and market growth. Financial Highlights The company’s profit after tax (PAT) surged to Rs. 10.6 billion, significantly higher than the Rs. 6 billion reported in the same period […]
Planning to visit France and experience its breathtaking landscapes, cultural heritage, and historical sites? If you’re a Pakistani citizen, you’ll need to secure a Schengen short-term visa, and one of the key requirements is proving financial stability through a bank statement. Schengen Visa Requirements for Pakistani Citizens Pakistani citizens must apply for a Schengen visa […]
Islamabad – The Federal Board of Revenue (FBR) has issued thousands of tax recovery notices to salaried professionals, demanding payments for alleged discrepancies in their tax filings. The move has sparked widespread frustration, with many calling the notices unjustified and baseless. What’s in the Notices? The FBR claims that a significant number of salaried individuals […]
Fauji Fertilizer Company Limited (FFC) has announced an impressive 80% increase in profit for the calendar year 2024, reporting a consolidated profit after tax (PAT) of Rs. 85.5 billion, compared to Rs. 47.4 billion in the previous year. The company’s strong financial performance has been attributed to record investments, increased dividends, and the contribution of […]
