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Finance Minister signs AIIB articles of agreement for Pakistan

ISLAMABAD: Pakistan has signed the articles of agreement (AoA) amongst 57 other founding members of the Asian Infrastructure Investment Bank (AIIB) on Monday. Finance Minister, Senator Muhammad Ishaq Dar represented Pakistan at the signing ceremony in the Great Hall of … Read More

POL prices to remain unchanged for July

ISLAMABAD: The Finance Ministry has decided to keep the petroleum prices unchanged for the month of July, ARY News has learnt. Finance Minister, Senator Mohammad Ishaq Dar who is currently visiting Beijing, in a statement received here said that with … Read More

US Navy paying $9 million to Microsoft for using Windows XP

KARACHI: The United States Navy is still using Windows XP operating system and is paying Microsoft $9 million every year for its updates. According to a foreign news channel, Microsoft stopped providing updates support for the operating system more than … Read More

Meezan Bank signs agreement to acquire HSBC Bank Oman

KARACHI: Karachi-based Meezan Bank Ltd has signed an arrangement with the Pakistani unit of HSBC Bank Oman to acquire the latter’s banking business in Pakistan, said in a bourse filing on Friday. In May, Meezan received central bank approval to … Read More

PSO disqualifies all offers except one tender seeking LNG for Jul-Oct

KARACHI: The Pakistan State Oil (PSO) has disqualified all offers submitted into its tender seeking LNG for July-October except one. A report published in Platts, citing PSO spokesperson, said all the tenders had been rejected except one.

Platts is a … Read More

SBP announces demonetization of all old design banknotes

ISLAMABAD: State Bank of Pakistan (SBP) extends reminder that as per Federal Government’s Gazette Notification dated June 4, 2015, the old design banknotes will cease to be legal tender with effect from December 1, 2016. In its press release, SBP … Read More

Dar says no new taxes on essential commodities in budget

ISLAMABAD: Finance Minister Ishaq Dar has said that the new budget has been poor-friendly adding that the government has not increased prices of Ghee, sugar, and other essential commodities, ARY News reported on Saturday. Addressing the post-budget press conference in … Read More

Ishaq Dar to launch Pakistan Economic Survey 2014-15

ISLAMABAD: The Economic Survey of Pakistan for the outgoing fiscal year 2014-15 will be launched today. The document highlighting the overall performance of economy will be launched by Federal Finance Minister, Ishaq Dar.

The survey covers development of all the … Read More

SBP announces Monetary Policy, cuts 100 bps in discount rate

KARACHI: The State Bank of Pakistan (SBP) in its sixth monetary policy of the year on Saturday slashed 100 basis points, which is another historical low in Pakistan. Governor SBP Ashraf Mahmood Wathra addressing the monetary policy announced 100 basis … Read More

NAB suggests FBR to collect data of stock exchange transactions

ISLAMABAD: Pakistan’s National Accountability Bureau (NAB) on Tuesday directed Federal Board of Revenue (FBR) to initiate investigation to find out sources of investment in stock exchanges in the country, ARY News reported. According to details, NAB has decided to tighten … Read More