Islamabad, Mar 28, 2025: The Securities and Exchange Commission of Pakistan (SECP) has embarked on a new phase of its digital transformation journey, unveiling enhanced regulatory procedures through the upgraded eZFile platform. This significant advancement highlights SECP’s dedication to modernizing corporate governance via automation, streamlining compliance, and enhancing business accessibility. With this upgrade, key regulatory functions are now exclusively processed through eZFile, replacing the former eServices system. Among the pivotal processes integrated into this platform are the registration of foreign firms and their compliance post-registration; the creation, modification, and discharge of mortgages, charges, and pledges; amendments in the principal business…
Author: Mawadat Fatima
Islamabad, Mar 28, 2025: The UAE’s Central Bank (CBUAE) has unveiled a fresh emblem for the Dirham, the nation’s official currency, as part of its strategy to reinforce the UAE’s stature as a leading financial center. The revamped Dirham symbol, modeled after the English letter “D,” incorporates two parallel lines that signify financial stability, drawing inspiration from the UAE flag. This new insignia aims to bolster the Dirham’s global presence and enhance its recognition in international markets. Furthermore, the Digital Dirham—the electronic form of the currency—will showcase a circular motif infused with the colors of the UAE flag, symbolizing national…
Islamabad, Mar 28, 2025: The exchange rate of the Saudi Riyal (SAR) in Pakistan’s open market stood at Rs74.40 on Friday. The selling price of the Riyal witnessed minor fluctuations, now being offered at Rs74.90. Saudi Riyal to PKR 1 SAR = Rs74.40 (March 28, 2025) The Saudi Riyal (SAR) serves as the official currency of Saudi Arabia and is divided into 100 halalas. Currency exchange involves converting one form of money into another, such as exchanging Pakistani Rupees for US Dollars, UAE Dirhams, or other prominent global currencies. Pakistan and Saudi Arabia maintain deep-rooted fraternal relations, consistently reinforcing their…
Islamabad, Mar 28, 2025: Despite telecom companies contributing billions of rupees to the Universal Service Fund (USF), not a single initiative has been launched in the last two years to enhance internet accessibility in Pakistan’s underserved regions. The situation has further deteriorated due to the absence of telecom industry representatives on the USF board for over two years, raising concerns about transparency and efficiency. For years, telecom operators have been allocating significant funds to USF and Ignite, yet there is little evidence of how these resources have been utilized. The government’s reluctance to include industry professionals on these boards has…
Islamabad, Mar 28, 2025: Industry analysts predict that Pakistan’s real estate sector is poised for a strong recovery after a two-year slowdown, driven by improved macroeconomic conditions and a consistent rise in remittances from overseas Pakistanis. With commercial banks reducing savings rates in line with policy rate cuts, investors are now seeking alternative opportunities. The stock market, having reached its peak with increased risks, has prompted many to turn to real estate as a secure and lucrative investment option. According to Anosh Ahmed, a real estate investor based in the United States, high-end residential communities and luxury housing schemes remain…
Islamabad, Mar 28, 2025: In a groundbreaking effort to enhance regional stock market collaboration, the Pakistan Stock Exchange (PSX) has officially signed a tripartite Memorandum of Understanding (MoU) with the Colombo Stock Exchange (CSE) and the Dhaka Stock Exchange (DSE). This agreement, finalized today in Colombo, seeks to create a unified platform for advancing technological capabilities, exchanging expertise, developing financial products, and strengthening regulatory cooperation. The initiative is set to improve investor protection and deepen ties between the three markets. The signing ceremony saw the presence of prominent officials from all three exchanges, including Farrukh H. Sabzwari, Managing Director and…
Islamabad, Mar 28, 2025: Federal Finance Minister Muhammad Aurangzeb has suggested that Pakistan may issue Panda Bonds in Chinese Yuan this year to tap into China’s extensive and liquid financial markets, according to APP. During an interview with Chinese media outlets, including CGTN English and China Daily, Aurangzeb stated that while Pakistan has previously floated bonds in US dollars and Euros, it is now strategically positioning itself to benefit from China’s robust capital market. The introduction of Panda Bonds is expected to enhance Pakistan’s financial connectivity with China and further underscore Beijing’s pivotal role in Pakistan’s ongoing digital transformation. Expressing…
Islamabad, Mar 27, 2025: Google has resolved a major security loophole in its Chrome browser for Windows, which was actively leveraged by cybercriminals to gain unauthorized access to users’ devices. This flaw, cataloged as CVE-2025-2783, was first detected earlier this month by cybersecurity experts at Kaspersky. Researchers linked the breach to a sophisticated phishing scheme dubbed “Operation ForumTroll.” On Tuesday, Google acknowledged that this vulnerability had already been exploited in real-world attacks before they could deploy a fix, categorizing it as a zero-day exploit. The company has since rolled out a security update to neutralize the threat, urging users to…
Islamabad, Mar 27, 2025; The Pakistan Meteorological Department (PMD) has sounded the alarm over an anticipated rise in temperatures nationwide, forecasting an increase of 3°C to 5°C above the usual levels in the coming months. Drastic Drop in Rainfall & Water Scarcity During a recent press briefing, Chief Meteorologist Muhammad Afzal disclosed that winter precipitation was 42% below average. The province-wise deficit stands at 63% in Sindh, 53% in Balochistan, and 41% in Punjab. This significant decline has severely impacted water reserves, leaving dams and reservoirs at dangerously low levels. As a result, concerns are growing over water availability for…
Islamabad, Mar 27, 2025: The Parliamentary Public Accounts Committee (PAC) has formally requested detailed records of PhD scholarship defaulters who traveled abroad but did not honor their commitments. Additionally, the committee has instructed authorities to provide explanations for the termination of Fulbright scholarships within a week. The meeting, led by Junaid Akbar Khan at Parliament House, included participation from PAC members, the Chairman of the Higher Education Commission (HEC), the Auditor General of Pakistan, and vice-chancellors from various universities. The session primarily examined the HEC’s audit reports for the fiscal year 2023-24, exposing financial discrepancies and governance concerns. During the…
