Pakistan News

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  • Amendments notified in NBFC rules

    ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) notified amendments in Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003...

    SECP also introduced amendments in Non-Banking Finance Companies (NBFCs) and Notified Entities Regul­ations, 2008 and notified Private Fund Management Regulations, 2015...

  • Pakistan approves sharia advisory board for Islamic finance

    ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has approved a four-member sharia advisory board to oversee Islamic financial products in the country, as the regulator looks to address credibility concerns which still haunt the industry...

    A centralised approach to Islamic finance is increasingly being adopted around the globe by regulators, moving away from a self-regulatory approach practiced by Islamic banks to...

  • Pakistan must boost tax revenue to finance development: UNDP

    ISLAMABAD: The top official from the United Nations Development Programme (UNDP) in the Asia-Pacific region has said that low tax-to-GDP ratio is critical for development in Pakistan and the government should look into the taxation issue, which is complicated as well as sensitive...

    UN Assistant Secretary-General and Regional Director of UNDP for Asia and the Pacific Haoliang Xu upon the conclusion of his four-day visit to Pakistan...

  • Climate finance: The $100bn question for Pakistan

    Among the most contentious aspects of the deal waiting to be signed, is the issue of climate finance...

    In 2009 at Copenhagen, developed countries had promised to deliver at least $100 billion of finance every year to developing countries by 2020, to help them cope with climate change...

  • Pakistan spent over Rs297bn in war against terrorism in last 10 years, Finance Ministry tells Senate

    Finance Minister Rana Afzal, while briefing the Senate on government expenditure on counter-terror efforts, said that over Rs297 billion has been spent in the war against terrorism in the last decade...

    A written reply from the Finance Ministry provided to the Senate reveals that the United States (US) had agreed to provide Pakistan $132 million for counter-terror efforts, of which $111m has been received...

  • Finance minister rules out placement of Pakistan on FATF blacklist

    ISLAMABAD: Ruling out placement of Pakistan on the Financial Action Task Force’s (FATF) blacklist, Finance Minister Asad Umar said on Friday that the negotiated action plan with the FATF would be implemented...

    Answering a calling attention notice in the Senate, he said September 2019 was the deadline for compliance, observing that Pakistan would finally be out of the grey-list...

  • First PHF audit then funding, hints finance minister Dar

    ISLAMABAD: Finance Minister Ishaq Dar on Saturday hinted that the government would not release fund for the Pakistan Hockey Fede­ration without holding its audit...

    However, the finance minister, while talking to the media at the Islamabad Club Polo Ground, said releasing fund for the PHF was not a problem for the government but they would hold its audit first...

  • ‘Access to Finance’ survey launched

    KARACHI: ‘Access to Finance’ is part of the National Financial Inclusion vision as it will serve dual purpose of gauging the impact of our financial inclusion initiatives since 2008 and provide baseline data...

    This was said by State Bank of Pakistan Governor Ashraf Mahmood Wathra on Tuesday at the launch of ‘Access to Finance (A2F) Survey 2015’...

  • China, Japan hold finance talks

    BEIJING: Chinese and Japanese finance ministers held talks on Saturday to deepen economic cooperation that had been delayed for about two years over strained relations between the Asian giants...

    Finance Minister Lou Jiwei and Japanese Deputy Prime Minister and Finance Minister Taro Aso agreed to deepen financial cooperation and support collaboration in the economic, trade and investment fields, China’s official Xinhua News Agency...

  • Curtains for Dar after finance job taken away

    ISLAMABAD: Putting to rest weeks of speculation about the fate of the key ministry, the government on Wednesday withdrew the portfolio of finance minister from Ishaq Dar...

    PM accepts leave application of finance minister, who will remain member of federal cabinetThe other communiqué announced the decision to withdraw the portfolios of Finance and Economic Affairs Division from Mr Dar in exercise of powers under rule 3(4) of The Rules...

  • ‘Embattled’ Dar may leave finance ministry soon

    ISLAMABAD: The decision to replace embattled Finance Minister Ishaq Dar has been made at the highest levels of government, a senior government official told Dawn...

    The source added that it had not yet been decided whether an adviser on finance would be appointed or a full-fledged minister, who must be a member of parliament...

  • Finance ministry hits back at critics

    ISLAMABAD: The Ministry of Finance on Saturday reiterated its position that Pakistan’s economic indicators were performing well and had been acknowledged internationally — resulting in an improvement in the country’s credit rating...

    The Long Term Finance Facility (LTFF) has been reduced from 11...

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