Daily Archives: January 4, 2021

Here’s How Petroleum Division Streamlined Oil and Gas Sector Operations in 2020

During the year 2020, the Petroleum Division (PD) aligned its strategy to streamline the matters related to the oil and gas sector, keeping in view the country’s existing and future energy needs, reported the state’s media agency. An ease-of-doing-business plan was introduced by the division along with other radical measures to ensure a level-playing field

Pakistani Rupee Begins the Year With a Slight Loss Against the US Dollar

The first shift for the Pakistani Rupee’s exchange rate against the US Dollar in 2021 came as a loss of 14 paisas on the opening day of the week. With a decrease of 14 paisas, PKR closed at Rs. 159.97 to the USD on Monday (January 4, 2021), as compared to Rs. 159.83 to the

Credit Card Users Decline Due to COVID-19

The number of credit cards’ base and its utility witnessed a decreasing trend among customers despite the reduction in mark-up rates. According to the State Bank of Pakistan (SBP), the number of credit cards declined to 1.63 million in the first quarter of the financial year 2020-21 (July to September) against the previous quarters in

NAB Has Recovered More Money in 3 Years Than It Did in 2 Decades

The National Accountability Bureau (NAB) released its three-year performance report on Sunday, showing a recovery of Rs. 487 billion. However, the report showed that since its formation in 1999, NAB recovered Rs. 714 billion with an overall conviction ratio of 68.8 percent. Of the Rs. 487 billion recovered in the last three years, Rawalpindi NAB

Investigation Exposes Corruption Worth Trillions in Sindh’s Pension Funds

A recent high-level investigation of Sindh’s Finance Department has revealed corruption involving Rs. 2.031 trillion that has been attributed to heavy misappropriation of the pension kitty by the Sindh Treasury. A detailed review of the investigation has revealed implicating evidence against the Finance Department that will undergo another probe by the National Accountability Bureau (NAB).

Sheikh stresses need to monitor demand supply position of daily use items at affordable rates

Minister for Finance and Revenue Dr. Abdul Hafeez Sheikh has stressed the need for effective functioning of authorities to monitor the demand supply position across the country for provision of daily use items to general public at affordable rates. He was chairing the meeting of the National Price Monitoring Committee in Islamabad today (Monday). The