The Biz Update

Uzbek-Pakistani Business Forum: Fostering Trade and Economic Collaboration

The Biz Update1 week ago1 week ago03 mins

Tashkent, November 4, 2024: Complementing the 9th Intergovernmental Commission meeting on Economic Cooperation between Uzbekistan and Pakistan, an engaging Uzbek-Pakistani Business Forum was held in Tashkent. This forum served as a dynamic platform for strengthening bilateral economic partnerships and facilitating business-to-business (B2B) interactions. The forum witnessed robust participation, with 25 Pakistani companies from diverse sectors…

FBR Hikes Sales Tax on Tea to 18% Amid Revenue Boost Efforts

The Biz Update1 week ago1 week ago02 mins

ISLAMABAD: The Federal Board of Revenue (FBR) has announced a 1% increase in the sales tax on tea, raising it from 17% to 18% on both locally produced and imported tea. This decision, made during a recent Economic Coordination Committee (ECC) meeting, aligns with the government’s ongoing efforts to address fiscal challenges and expand revenue…

SI Global Solutions becomes first Pakistani company to get membership of IALA

The Biz Update1 week ago1 week ago04 mins

KARACHI: SI Global Solutions, a leading maritime and fastest-growing ICT system integrator and consultancy company, has become the first Pakistani company to receive membership in the International Association of Lighthouse Authorities (IALA). This prestigious recognition solidifies SI Global Solutions’ commitment to excellence for the safety of our ports and harbours domain and positions Pakistan on…

MPC Takes Bold Step with Rate Cut to Boost Growth

The Biz Update1 week ago1 week ago06 mins

KARACHI, November 04 2024: In the meeting, the Monetary Policy Committee (MPC) decided to reduce the policy rate by 250 basis points to 15 per cent, effective from November 5, 2024. The Committee observed a faster-than-expected decline in inflation, reaching close to the medium-term target in October. The tight monetary policy stance has been pivotal…

JS Bank and BankIslami partner to expand home remittance payouts across Pakistan

The Biz Update1 week ago1 week ago03 mins

KARACHI, November 4, 2024: JS Bank and BankIslami have announced a strategic partnership to enhance home remittance services nationwide, by combining the strengths and retail networks of both institutions. Through this alliance, JS Bank will leverage BankIslami’s branch network to provide swift, secure, and convenient remittance payouts for beneficiaries across Pakistan. The partnership was formalized…