Economy

Pakistan Just Got $6.9 Billion in Foreign Loans During Tough 9 Months of FY24

The country borrowed just $6.899 billion from multiple financing sources during the first nine months (July-March) of the current fiscal year 2023-24 compared to $7.764 billion borrowed during the same period of 2022-23, representing 39 percent of th…

Economy

MCB Bank to Convert 39 Branches Into Islamic Banking Entities

MCB Bank Limited (PSX: MCB) has approved the Scheme of Compromises, Arrangements and Reconstruction for converting 39 branches into Islamic banking entities, the bank informed the main bourse on Wednesday.

According to stock filing, the scheme has e…

Economy

MCB Posts Profit After Tax of Rs. 16.6 Billion for Q1-2024

The Board of Directors of MCB Bank Limited (MCB) in its meeting under the Chairmanship of Mian Mohammad Mansha, on April 24, 2024, reviewed the performance of the Bank and approved the condensed interim financial statements for the first quarter ende…

Economy

Pakistan Wants $3.5 Billion Loan From Saudi Arabia for Diamer Bhasha Dam

Pakistan has formally requested $3.5 billion funds from Saudi Arabia for the Diamer-Bhasha Dam.

Saudis will respond to this request after consulting with their financial advisor for the dam project. Pakistan’s financial advisor will engage with an a…

Economy

Traders Threaten Protests Against FBR’s New Tajir Dost Registration Scheme

The All Pakistan Traders Association has threatened protests if traders’ concerns aren’t addressed by the government, with the date likely to be announced during a convention in May.

President Ajmal Baloch said this in reference to the Tajir Dost ta…

Economy

Gold Price in Pakistan Rises Slightly After Massive Decline in Previous Two Days

The price of gold in Pakistan rose slightly on Wednesday after losing over Rs. 11,000 per tola in the previous two days.

According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) increased by Rs. 1,100 per tola to Rs….