State Bank of Pakistan earned a profit of Rs. 760.859 billion in FY21 as compared to a profit of Rs. 1.1634 trillion in FY20, registering a decline of 34 percent year-on-year, according to the annual performance report.The decline in profit is primaril…
The Federal Board of Revenue (FBR) has extended the deadline for digital payments by the corporate sector stipulated in Section 21 (1a) of Income Tax Ordinance-2001 up to 30th November 2021.FBR has exercised this power conferred upon it under Section 2…
The State Bank of Pakistan (SBP) has rejected the news reports, circulating in various sections of media, of cybersecurity attacks on banks, including remarks attributed to Chief Spokesman, Abid Qamar. It was claimed in the reports that nine banks suff…
The National Bank of Pakistan (NBP) has reported a continuing successful operational recovery from the cyberattack on its systems that occurred on October 29.According to details, NBP has confirmed that over 1,000 branches of the bank operated on Monda…
In the first four months (July-Oct) of FY22, Pakistan’s import expenditure more than doubled primarily due to investment-related imports. Exports also grew but were unable to contain the trade deficit. Consequently, the trade deficit also more than dou…
In pursuit of meeting IMF’s requirement, the government is struggling to privatize two RLNG-based power plants due to pandemic and accumulation of circular debt of Rs. 145 billion.The Cabinet Committee on Privatization cleared two re-gasified liquefied…
