Tag: Pakistan economy

The Federal Board of Revenue successfully integrates 12,861 Tier-1 retailers into its POS system to meet IMF documentation requirements and curb tax evasion.

Federal Finance Minister Muhammad Aurangzeb announces the expansion of the Roshan Digital Account to foreign nationals and companies to boost international investment.

Pakistan’s Roshan Digital Account (RDA) initiative recorded $205 million in gross inflows in October 2025, signaling sustained investor confidence from overseas Pakistanis and continued growth in digital banking and investment channels.

Pakistan’s push toward a cashless economy under Prime Minister Shehbaz Sharif is struggling to gain momentum, with fewer than 700,000 retailers adopting digital payment systems. Despite strong government efforts, resistance from traders and growing cash circulation remain major barriers to digital transformation.

The State Bank of Pakistan reports that women’s active bank accounts have risen to 37 million under its Banking on Equality policy, narrowing the gender gap in financial inclusion. Governor Jameel Ahmad announced the progress during the World Bank Group meetings, emphasizing SBP’s commitment to advancing women’s entrepreneurship and inclusive economic growth.

Karachi’s iconic Bohra Bazaar has transitioned to a cashless ecosystem powered by JazzCash, with hundreds of merchants now using QR-based payments for safer and faster transactions. The initiative promotes financial inclusion, empowers small businesses, and marks a key milestone in Pakistan’s digital transformation journey.

ICMAP has proposed a detailed framework to regulate cryptocurrency and launch a CBDC in Pakistan, aiming to modernize the financial sector, attract investment, and enhance financial inclusion.

Pakistan’s mobile banking users have soared to 22.39 million, marking a 33% jump as the country’s digital banking landscape continues to expand rapidly. New SBP data highlights how smartphones are becoming the primary tool for managing money nationwide.

Pakistan General Insurance Company Limited has received a formal acquisition offer from Muhammad Shahzad Habib and associates for over 3.8 million shares, marking a potential shift in ownership that could reshape the insurer’s future strategy.