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…
Senate Committee Rejects Govt’s Plan to Charge Sales Tax on Basis of Printed Retail Price of Sugar
The Senate Standing Committee on Finance and Revenue on Tuesday rejected the government plan to charge sales tax on the basis of the printed retail price of sugar.The meeting of the Senate committee was held under the chair of Senator Talha Mahmood on …
Pakistani Rupee Undergoes Massive Losses Against All Currencies
The Pakistani Rupee’s (PKR) posted notable back-to-back losses against the US Dollar (USD) this week, crossing the Rs. 156 exchange rate on Monday and deepening the losses today (Tuesday, 15 June).The PKR closed at Rs. 156.78 against the USD at the end…
Here’s How New Budget Proposals Could Kill E-Commerce Businesses In Pakistan
Opportunities have arisen in the times when the world was suffering from the COVID-19 pandemic. Many companies started downsizing by facing a severe cash flow issue. People around the world explored the options of eCommerce where online marketplaces pr…
FBR Ordered To Increase Integration of Point of Sale System
Minister for Finance & Revenue, Shaukat Fayaz Ahmed Tarin, visited the Federal Bureau of Revenue (FBR) headquarters today and held a meeting with the officers. The meeting’s main purpose was to devise a strategy to increase the integration …