Pakistan Finance
SECP Approves Rs. 1.16 Billion Capital Raise for Apna Microfinance Bank
Apna Microfinance Bank Limited has received approval from the Securities and Exchange Commission of Pakistan (SECP) to raise Rs. 1.16 billion through the issuance of new ordinary shares, marking a significant development for the bank’s capital strengthening efforts. The approval allows the microfinance institution to issue approximately 116.06 million ordinary shares against share deposit money. […]
Rising Petroleum Levy Identified as Key Factor Behind Pakistan’s Inflation Surge
Pakistan’s recent return to double-digit inflation is increasingly being attributed to higher fuel taxation, with a new study suggesting that the government’s expanding use of the petroleum levy has played a significant role in driving up prices across the economy. A report published by the Policy Research and Advisory Council (PRAC) argues that the petroleum […]
Pakistan Plans Complete Redesign of Currency Notes; Old Notes to Remain Valid
Pakistan is preparing for a major update to its national currency system as the federal government has decided to redesign all currency notes ranging from Rs. 10 to Rs. 5,000. The move is aimed at modernizing banknotes, enhancing security features, and aligning Pakistan’s currency with international standards, according to sources familiar with the development. Alongside […]
PM Shehbaz Sharif Highlights Raast’s Role in Driving Cashless Economy and Financial Inclusion
Prime Minister Shehbaz Sharif has praised Raast, Pakistan’s national payment system, for its pivotal role in promoting a cashless economy and advancing financial inclusion across the country. Speaking to the newly appointed members of the Raast board at the PM House on Thursday, the prime minister emphasized the importance of accelerating efforts to encourage businesses […]