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SBP to Mandate Biometric and Facial Verification for All Currency Transactions from Jan 1
State Bank of Pakistan mandates that from Jan 1, 2025, all citizens buying or selling foreign currency must undergo biometric and NADRA facial recognition verification to curb illegal transactions.
Muhammad Hashir
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Assets of Civil Servants, Lawmakers to Go Public by Dec 31: Aurangzeb
Finance Minister Muhammad Aurangzeb says assets of civil servants and parliamentarians will be made public by Dec 31, calling it a practical reform, not an extra IMF condition.
Muhammad Hashir
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US $686m Defence Package to Upgrade Pakistan’s F-16 Fleet Through 2040
The US has approved a $686m defence package to modernise Pakistan’s F-16 fighter jets, extending their service life to 2040 with advanced avionics, secure communications and enhanced interoperability.
Muhammad Hashir
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IMF Tax Demand Poses Risk to Pakistan’s Refinery Upgrade, Fuel Prices Could Spike
Pakistan’s refinery upgrade project faces hurdles as IMF demands 18% tax on petroleum imports. Petrol could rise by Rs 47/liter and diesel by Rs 50/liter if condition is accepted. Govt seeks tax exemption on machinery.
Muhammad Hashir
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PVARA Grants NOCs to Binance and HTX, Moves Toward Regulated Crypto Market
Pakistan Virtual Assets Regulatory Authority (PVARA) grants NOCs to Binance and HTX, allowing initial preparations. Finance Minister highlights AI-powered oversight as Pakistan strengthens crypto regulation.
Muhammad Hashir
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Pakistan Receives $1.2bn IMF Tranche After Successful Programme Review
State Bank confirms receiving $1.2bn from the IMF after successful reviews of the EFF and RSF. Total disbursements now reach $3.3bn as Pakistan pushes ahead with reforms and stabilisation efforts.
Muhammad Hashir
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US Exim Bank Approves $1.25 Billion Investment for Mineral Mining Projects in Pakistan
US Exim Bank approves $1.25B investment for mineral mining in Pakistan, with potential to increase to $2B. The project will create thousands of jobs in Balochistan and strengthen US-Pakistan ties.
Muhammad Hashir
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ECC Approves Vehicle Import Rules, Petroleum Margins, and Key Development Funds
ECC approves new vehicle import rules, increases OMC & petrol pump margins, and allocates billions for development, PIA, and PASSCO liquidation.
Muhammad Hashir
