In 2024, Pakistan faced the highest financial losses in the world due to internet shutdowns. The total loss was $1.62 billion, which is more than countries affected by civil wars like Sudan and Myanmar. Global Financial Loss Due to Internet Shutdowns Total global losses were $7.69 billion from internet shutdowns. The global disruptions lasted 88,788…
Pakistan Single Window (PSW) has successfully integrated seven large government organizations, including provincial revenue authorities and the Drug Regulatory Authority of Pakistan (DRAP). This move will significantly enhance the exchange of data during the clearance of imports and exports. The integration aims to simplify and speed up the processes by sharing data across different government…
The State Bank of Pakistan (SBP) has launched the Pakistan Remittance Survey 2025. The goal of this survey is to better understand how remittances flow from overseas Pakistanis back to Pakistan. It aims to gather important data on the amount, frequency, and patterns of remittances, which will help the government in policy-making and improving the…
In November 2024, Pakistan export of services reached $675.69 million, marking a growth of 6.51% compared to the same month in the previous year. The services export sector has shown consistent growth since February 2024, with the exception of August when there was a 6.5% contraction. This growth is mainly driven by an increase in…
Engro Corporation Limited (ENGRO) and Dawood Hercules Corporation Limited (DAWH) are in the final stages of their restructuring process, following the Scheme of Arrangement. This restructuring will reshape both companies and is expected to create more value for shareholders. Key Details of the Restructuring Both companies have completed all necessary regulatory requirements, and received the…
Veon Group, a leading global digital operator, has made a $15 million investment in Mobilink Bank to help boost its microfinance operations. This investment will help the bank offer more financing options to micro, small, and medium-sized enterprises (MSMEs), expand digital banking, and enhance financial inclusion. Key Areas of Investment This investment will focus on…
The World Bank has released a report titled “Poverty Projections for Pakistan,” which raises significant concerns about the increase in poverty in the country. According to the report, Pakistan poverty rate is expected to rise to 25.3% in 2024, up from 18.3% in 2023. This means an additional 13 million people will be pushed below…
The Pakistan Tax Bar Association (PTBA) has asked for a larger bench to be set up in order to solve a tax confusion. This confusion affects Pakistanis who own property in the UAE and the UK. The PTBA wants the Appellate Tribunal Inland Revenue (ATIR) to form a larger bench to give a clear answer…
The Punjab Revenue Authority (PRA) has achieved remarkable growth in tax collection, reporting a 16.16% increase in December 2024. Over the first half of fiscal year 2024 (H1 FY24), the PRA collected Rs118 billion in tax revenue, reflecting a 10.35% rise compared to the same period last year. PRA Growth in Tax Revenue PRA Tax…
To meet the conditions set by the International Monetary Fund (IMF) and other creditors like the World Bank, the federal government has announced a ban on double pensions for its employees. This move is part of efforts to reduce financial liabilities and meet economic requirements. Overview of Pension Ban Action Details Ban on Double Pensions…
