PIA Audit Uncovers Rs9.43 Billion Losses from Free and Discounted Ticketing
An audit by the Auditor General of Pakistan has revealed that Pakistan International Airlines incurred Rs9.43 billion in losses between 2011 and 2016 through the issuance of free and heavily discounted tickets, many granted to individuals with no official ties to the airline.
PSX Slips 483 Points Amid Profit-Taking and Futures Rollover Pressure
The Pakistan Stock Exchange lost 483 points as late-session profit-taking and futures rollover weighed on investor sentiment. Despite strong trading activity, key sectors including banking and cement pulled the KSE-100 index into negative territory.
K-Electric Reports FY24 Results with PKR 4.13 Billion Profit Amid Challenging Economic Climate
K-Electric announced its financial results for FY24, reporting PKR 4.13 billion profit despite inflation, tariff hikes, and operational challenges, while outlining investments in transmission, distribution, and anti-theft initiatives.
World Bank Reaffirms $40 Billion Support as Pakistan Pushes Reform Agenda
Prime Minister Shehbaz Sharif secured World Bank’s reaffirmation of $40 billion support under the new Country Partnership Framework, with both sides committing to stronger cooperation on economic reforms, climate resilience, and sustainable growth.
Over 80 Organizations’ Data Utilized in Compiling Pakistan’s Tax Expenditure Report 2025
The Federal Board of Revenue has issued the Tax Expenditure Report 2025, relying on data from more than 80 organizations to calculate the true cost of tax exemptions. Provincial Boards of Revenue, federal agencies, financial institutions, and private sector organizations all contributed to ensure a comprehensive and transparent assessment.
FBR Launches Nationwide Crackdown on Tax-Evading Jewellers to Broaden Fiscal Net
The Federal Board of Revenue (FBR) has launched a nationwide crackdown on tax-evading jewellers, targeting thousands operating outside the tax net. Notices have been issued across major cities as the authority works to broaden Pakistan’s tax base and enforce fiscal compliance.
Pakistan’s Microfinance Sector Transitions Toward Islamic Banking Framework
Pakistan’s microfinance sector is transitioning from conventional to Islamic finance, with banks adopting Sharia-compliant products and oversight by scholars. Leaders from the Pakistan Microfinance Network highlight the sector’s ambitions, future goals, and the role of innovation in financial inclusion.
SBP Mid-Year Banking Sector Review Highlights Slowing Profitability and Rising Government Borrowing
State Bank of Pakistan’s mid-year banking sector review reveals slower asset growth, rising reliance on government securities, weak private sector credit, and energy sector risks.
Systems Limited Explores Potential Acquisition of IT Services Business to Strengthen Growth Strategy
Systems Limited announces plans to acquire an IT services business, pending due diligence and regulatory approvals, marking a significant step in its expansion strategy.
Pakistan to Digitise All Government Payments by June 2026 as Cashless Economy Drive Accelerates
Pakistan plans to digitise all federal, provincial, local, and state-owned enterprise payments by June 2026, with SBP leading initiatives to expand secure and inclusive digital financial services.