The federal Minister for Finance and Revenue, Shaukat Tarin, chaired a meeting of the Economic Coordination Committee (ECC) of the cabinet today.The ECC approved $17.3 million for PIA-IL for the payment of recurring and one-off liabilities in respect o…
Banks Can Now Charge Fee on Interbank Funds Transfers Above Rs. 25,000
Seemingly on the insistence of commercial banks, the State Bank of Pakistan (SBP) has allowed banks and various service providers to charge a minimal fee from the Interbank Funds Transfer amounting above Rs. 25,000.The central bank directed banks to pr…
Govt Launches Smart Village Projects Throughout Pakistan
Initially, one Smart Village will be established each in Islamabad, Punjab, Balochistan, Sindh, Khyber Pakhtunkhwa, and Gilgit-BaltistanThe Ministry of Information Technology and Telecommunications (MOIT&T), through Universal Service Fund (…
Coca-Cola ?çecek to Invest $50 Million for Another Production Plant
A delegation of Coca-Cola Icecek (CCI Pakistan), including General Manager Ahmet Kursad Ertin, met with the Prime Minister of Pakistan and announced an investment of $50 million for a Greenfield project the company plans to set up in Haripur District, …
SECP Issues Draft Regulatory Framework for Digital-only Insurers & Micro-Insurers
The Securities and Exchange Commission of Pakistan (SECP), as part of its agenda to promote digitalization and encourage innovation in financial services, has introduced a draft registration regime for digital-only insurers and dedicated micro-insurers…
Citi Pharma Raises Rs. 2.32 Billion in 2021’s Single Largest IPO
The book-building process of Citi Pharma’s Initial Public Offer (IPO) has concluded with an oversubscription of 2 times, according to Topline Securities, advisor and book-runner of the issue.“The IPO received an overwhelming response from institutional…