Economy
Federal Minister for Finance and Revenue Chairs ECC Meeting
ISLAMABAD, November 19 2024: The ECC deliberated on a proposal from the Ministry of Energy (Power Division) regarding a winter demand initiative aimed at optimizing system generation capacity while reducing gas demand. This initiative is designed to shift favorable demand towards electricity for industrial, domestic (ToU and non-ToU consumers exceeding 200 units), commercial, and general…
Pakistan’s Current Account Maintains Surplus Amid Fragile Economic Growth
KARACHI, November 19 2024: In October, Pakistan’s current account balance recorded a surplus of $349 million, bringing the four-month figure for FY25 to a modest $218 million. This positive trend, while encouraging, comes against the backdrop of a fragile economy grappling with subdued growth and constrained international financing options. Exports and Remittances Offer a Buffer…
SECP Cautions Against Unlicensed Trading Platform “IBKR” Promising High Returns
ISLAMABAD, November 15, 2024: The Securities and Exchange Commission of Pakistan (SECP) has raised an urgent warning regarding a fraudulent trading platform operating under the name “Interactive Brokers Group (IBKR).” The platform, which has been circulating through social media and WhatsApp groups, is promising unsuspecting investors high returns from trading on both the Pakistan Stock…
SECP Reports Robust Growth with the Registration of 2,477 New Companies
ISLAMABAD, November 13, 2024: The Securities and Exchange Commission of Pakistan (SECP) has reported the registration of 2,477 new companies in October 2024, raising the total number of companies in Pakistan to 233,587. This substantial growth highlights rising confidence in Pakistan’s corporate sector and a positive trend in its expansion. Continuing its focus on digitization,…
SECP defers implementation of expected credit loss model of IFRS 9 for circular debt
ISLAMABAD, November 11, 2024: The Securities and Exchange Commission of Pakistan (SECP) has announced a temporary deferment of the Expected Credit Losses (ECL) Model, under International Financial Reporting Standard (IFRS)-9 ‘Financial Instruments’, for companies holding financial assets directly or indirectly owed by the Government of Pakistan in connection with inter-corporate circular debt. This deferment extends…