Pakistan Media Network

Latest & Trendy News All Around Pakistan

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State Bank Amendment Bill Breaches the Constitution: Farogh Naseem

The law minister, in a briefing session with the IMF, mentioned that section 46B (8) in the State Bank (Amendment) Bill breaches the constitution.Talking through a video link, the minister highlighted the newly introduced provision which suggests that …

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Privatization of Two RLNG-based Power Plants Hits a Snag Due to Circular Debt

In pursuit of meeting IMF’s requirement, the government is struggling to privatize two RLNG-based power plants due to pandemic and accumulation of circular debt of Rs. 145 billion.The Cabinet Committee on Privatization cleared two re-gasified liquefied…

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Pakistan’s Trade Deficit Doubled in First Four Months of FY 2022: Pakistan Bureau of Statistics

In the first four months (July-Oct) of FY22, Pakistan’s import expenditure more than doubled primarily due to investment-related imports. Exports also grew but were unable to contain the trade deficit. Consequently, the trade deficit also more than dou…

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NBP Provides Latest Update on Recovery After Cyberattack

The National Bank of Pakistan (NBP) has reported a continuing successful operational recovery from the cyberattack on its systems that occurred on October 29.According to details, NBP has confirmed that over 1,000 branches of the bank operated on Monda…

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Finance Advisor Provides Important Update on Pakistan’s Talks with IMF

Advisor to the Prime Minister on Finance, Shaukat Tarin, informed that the matters with IMF have been settled and a formal agreement would be reached within a couple of days to revive the 6 billion USD Extended Fund Facility (EFF).He was talking to the…

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Pakistan’s Power Sector is Reducing Efficiency of Businesses: Report

Pakistani businesses are suffering heavily from the existing framework of the power sector, according to the report: “State-Owned Electricity Distribution Companies — A 5-year Performance Review” published by Prime Institute.As per the report, even sur…

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Here is How Petrol Prices Are Calculated in Pakistan

As the prices of petroleum products are expected to jack up to a historic high, there is a lot of dismay among people over its devastating economic impact as it leads to an overall hike in inflation and commuting costs. However, there is a lack of info…

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Salaried Class & Pensioners Suffer As NBP Fails to Restore System After Cyberattack

Millions continue to suffer as the National Bank of Pakistan (NBP) has not yet fully restored its banking system after hackers targeted the bank on Friday and caused disruption in its services, including the disbursement of payments and pensions for pu…