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.
PM launched Raast, which is the country’s first digital transaction system. This is going to help low-cost digital retail payments and money transfers. Well, this is amazing as the local small businesses will have access to a common man without a hassle.
The report that FBR has launched, indicates that the revenue collected by Pakistan in the first half of 2021, was Rs. 2,314 billion, whereas the revenues collected in the current fiscal year went beyond the target of Rs. 2,016 billion by Rs. 298 billion.
According to the MSCI Quarterly Index Review, MSCI had been in consultation with the global investors to include Pakistan in the FM 100 index. The decision will be implemented from May 2022 onwards.
Fortunately, the situation of banks in Pakistan is getting better by the day. As of 2017, the total assets in the banking sector stood up to $159.50 billion, and so we decided to list down the top five in Pakistan.
According to the Interior Ministry of Bahrain, Golden Visa was introduced to attract foreign professionals and highly talented individuals so that they can be retained. Once renewed, it would be for an indefinite time. It will also give a right to work and keep the family as well.
IMF loans though look attractive but have repercussions for the country seeking them. We need to critically evaluate whether a loan we are seeking is worth it or not? Will we be able to return the debt? Do we have the right policies that will generate revenue equal to the bailout?
Pakistan is trying to get back its economy on track by bringing more and more people into the tax net. This will enable the country to generate revenue equivalent to its spending.
Finance Minister Shaukat Tarin shared the news, “I am pleased to announce that IMF Board has approved 6th tranche of their programme for Pakistan.”
According to Abdul Razak Dawood, the commerce advisor to Pakistan’s prime minister, textile exports are expected to cross 40% in comparison to 2021, which had a record of US$ 21 billion in 12 months, ending in June.
To fulfil the requirement to get a loan from IMF, Pakistan has to go through some tough decisions. The petrol prices have been going up in recent months as part of the IMF dialogue. So, it was proposed that petroleum prices would go up from Rs 5 to Rs 15.
‘’We intend to bring digital banks with a strong value proposition, robust technological infrastructure, sufficient financial strength, technical expertise, and effective risk management culture’’.
Dr Michael Maier holds a Ph.D degree from Munich and has a vast experience in working with leading European banks.
