Remittances continue to decline in November 2022
Remittances sent by Pakistanis living abroad fell by 14% in November of this year. During the first five months of the current fiscal year, inflows declined by 9.6 percent (FY23).
Finance
In finance, we will cover activities associated with banking, leverage or debt, credit, capital markets, money, and investments. Basically, everything that has to do with Pakistan’s economy, financing needs, finance news, and a lot more.
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SBP Limits Credit and Debit Card Use for Cross-Border Transactions to $30,000 Per Year
The State Bank of Pakistan (SBP) has established an annual cap of $30,000 for each individual’s use of debit/credit cards for cross-border transactions.
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in Education, Finance, Science, Technology
The Cloud City Metaverse: Pakistan Enters Into Web3
NARSUN studios the biggest game development company has announced the first ever metaverse in Pakistan. TCCM (the cloud city metaverse). This marks the first giant step into the world of web3 and will bring extreme business opportunities for Pakistan.
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in Education, Finance, Politics, Technology
First Ever Women University In Mansehra
The Prime Minister has also announced to inaugurate a multi-billion rupees ‘gravity flow water supply scheme’ soon, the modalities for which have already been finalized by the Pakistani and Saudi governments.
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Sialkot Tops The List Of Sellers On Alibaba
Muhammad Sadiq He lamented the fact that only 3.3pc of the total Pakistani exporters on Alibaba.com are from Karachi. “These dynamics should change. I invite all exporters from Karachi to embrace the export e-commerce route,” he said.
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Pakistan To Host Asia-Pacific ICT Alliance (APICTA) For The First Time
In order to promote economic and workforce development, trade relations, and technological collaboration in the Asia Pacific area, APICTA’s purpose is to create a platform for the recognition and acceleration of domestic ICT breakthroughs.
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in Finance, News, World News
Rupee Doing Better Than Dollar In The Ongoing Month Of August
According to the latest data issued by the Pakistan Bureau of Statistics, Pakistan’s merchandise trade deficit for the month of July 2022 clocked in at $2.64 billion compared to a deficit of $4.96 billion in the preceding month, narrowed by 46.77 per cent, that also helped reduce pressure on the struggling rupee.
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2022 Inflation Hits Pakistanis In The Head – Breaks All Records Of Car Purchases
The rise in sales of domestically manufactured cars has been attributed to economic recovery and lower interest rate during the year.
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in Finance, New In Pakistan, News
Budget 2022 – Are You Ready?
The budget for 2022-2023 seems to have been designed in such a way that the IMF is satisfied and releases the halted bailout. Energy and fuel prices are expected to go higher, which will ultimately increase inflation in the country.
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in Finance, Technology, World News
ZoodPay Enter’s Pakistani Market
A BNPL solution Zoodpay headquartered in Switzerland lets the customers defer their payments without having to pay the interest. It currently operates in CIS (Commonwealth of Independent States) and MENA (the Middle East and North Africa) countries.
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in Finance, New In Pakistan, News
Government Imposes Ban On Import Of Luxury And Non-Essential Items
Seems like Pakistan is already facing its share of economic problems and it’s just the start. The government has decided to impose a ban on the import of luxury and non-essential items.
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Pakistan Could Generate Over 20b In Taxes By Legalizing Crypto Trading
Rain Financial Inc, which has a crypto exchange license in Bahrain and Turkey, is looking to enter the Pakistani market as well, but unlike other exchanges, it only plans to step into the country after the legalization of crypto trading in Pakistan. For this purpose, the Rain team has reportedly met with several stakeholders, including State Bank. The meetings are claimed to be fruitful, and the company is expecting positive things to happen around the legalization of crypto trading in the country.
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