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Search Results for: Pakistan

Pakistan’s Green Sukuk Framework: Investing in a Sustainable Future 

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Pakistan’s federal cabinet has approved the Sustainable Investment (SI) Sukuk Framework, marking a significant step toward financing climate-resilient and socially impactful projects through Islamic bonds. The framework, introduced by the Ministry of Finance, enables the issuance of Green Sukuk, Social Sukuk, and Sustainability Sukuk, collectively known as SI Sukuk, to mobilize domestic capital for environmentally and socially beneficial…

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Honda plans to launch hybrid electric vehicles (HEVs) in Pakistan 

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KARACHI: Honda Atlas Cars has announced its intention to introduce Hybrid Electric Vehicle (HEV) models in Pakistan in the near future. The company formally disclosed this development in a notification submitted to the Pakistan Stock Exchange (PSX) on Friday.  According to company officials, this initiative aligns with Honda’s global commitment to innovation, environmental sustainability, and providing advanced…

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Pakistan grants provisional license to Starlink

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Pakistan has granted a provisional license to Starlink, marking a significant step toward the satellite internet provider’s official launch in the country, Pakistan Telecommunication Authority (PTA) Chairman Hafeez Ur Rehman announced Monday.  Rehman told reporters that the licensing process consists of multiple regulatory stages. Starlink has already registered with the Securities and Exchange Commission of…

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Capital Limited signs mining services contract for Reko Diq Project Pakistan

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LONDON: Capital Limited (LSE: CAPD), a leading mining services provider, announced the signing of a major mining services contract with Reko Diq Mining Pakistan Limited, operated by Barrick. This agreement marks a significant milestone for the development of the Reko Diq copper-gold project, one of the world’s largest and most cost-effective operations. The long-term contract,…

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Pakistan moves to resolve power sector circular debt, aims to reduce electricity bills

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ISLAMABAD: Pakistan’s government is taking steps to resolve the power sector’s circular debt, which has reached 2.4 trillion Pakistani rupees (PKR), and is working to reduce electricity tariffs for consumers, according to recent reports and analysis. The government plans to address the circular debt, which includes PKR 1.7 trillion owed to power generation companies and…

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Payoneer partners with Meezan Bank to enhance cross-border payments for Pakistani businesses

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Payoneer (NASDAQ: PAYO), the financial technology company empowering the world’s small and medium-sized businesses (SMBs) to transact, do business, and grow globally, has partnered with Meezan Bank, Pakistan’s leading Islamic bank, to enhance cross-border payments for Pakistani SMBs, entrepreneurs, and freelancers. The signing ceremony took place at Meezan Bank’s Head Office, attended by Syed Amir Ali,…

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Pakistan’s banking sector contributes heavily to national development, faces challenges

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Pakistan’s banking sector remains a cornerstone of the nation’s economic development, contributing significantly to tax revenues, employment, and financial inclusion, according to a recent address by Zafar Masud, Chairman of the Pakistan Banks Association (PBA). However, the sector faces challenges as it navigates a rapidly changing global economic landscape and addresses domestic criticisms. Tax Contributions and…

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IFC commits $20 billion investment in Pakistan over next decade

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The International Finance Corporation (IFC), an arm of the World Bank, announced plans to invest $2 billion annually in Pakistan over the next ten years. This $20 billion investment will focus on water-related projects, infrastructure development, energy, and ports. IFC Chief Makhtar Diop met with Finance Minister Muhammad Aurangzeb to discuss the expansion of investments…

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Pakistan signs $1.2 billion deferred payment oil import agreement with Saudi Arabia

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Pakistan has signed an agreement with the Saudi Fund for Development (SFD) to import Saudi oil on deferred payment for one year, totaling $1.2 billion, according to an official statement. A delegation led by SFD CEO Sultan Bin Abdul Rehman Al Marshad met with Prime Minister Shehbaz Sharif in Islamabad. PM Shehbaz witnessed the signing…

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Over the past decade, net FDI in Pakistan averaged $2 billion annually

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While Foreign Direct Investment (FDI) has been seen as a key driver of economic growth, infrastructure development, and job creation, the Pakistan Business Council (PBC) has criticized Pakistan’s approach as unfocused and overly reliant on FDI aimed at exploiting local markets rather than enhancing exports. Historically, Pakistan has attracted market-seeking FDI, primarily serving its domestic…

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