Roshan Digital Accounts (RDAs) in Pakistan recorded a substantial $6.898 billion in foreign exchange inflows by October 2023, showcasing the program’s success in attracting global investments. With $1.524 billion repatriated and $4.219 billion used locally, RDAs continue to play a crucial role in the country’s financial landscape.
PayFast, Pakistan’s top payment gateway, reinforces its collaboration with JazzCash, a leading fintech provider, allowing millions of Pakistanis to use JazzCash mobile wallets for online transactions, fostering financial inclusion and convenience. This partnership also offers businesses using PayFast an opportunity to tap into the growing e-wallet market, with JazzCash boasting over 43 million registered users.
The Caretaker Religious Affairs Minister, Aneeq Ahmed, revealed that the cost for Hajj 2024 under the government quota is set at Rs. 1.075 million, marking a notable decrease from the previous year. Other policy changes include returning unused slots, implementing financial monitoring, and allowing greater flexibility for individuals over 80 in private Hajj schemes.
The Pakistani government has lowered petrol and diesel prices by Rs2.04 and Rs6.47 per liter, respectively, for the next two weeks, citing lower international prices. However, the impact is tempered by a depreciating rupee and the government hitting the maximum Rs60 per liter levy limit.
Malaysia welcomes Pakistani travelers with an enhanced eVisa system, featuring a user-friendly portal and a 90-day validity for the 30-day visit visa, coupled with reduced fees and convenient payment options. The changes aim to make Malaysia a more accessible and affordable destination for Pakistani visitors.
MG Pakistan expands its electric vehicle portfolio with the launch of MG4, available in ‘Excite’ and ‘Essence’ variants, featuring swift acceleration, advanced technology, and impressive ranges of 350 km and 450 km, respectively, contributing to the country’s shift towards sustainable mobility.
Digital freight startup Voyage Freight has secured over $1 million in a pre-seed funding round, led by Indus Valley Capital, to modernize international shipping in Pakistan. The funding will accelerate Voyage’s mission to simplify export logistics, offering a tech-driven, end-to-end solution for Pakistani exporters.
Lucky Motor Corporation (KIA) unveils an enticing interest-free installment plan for car buyers, emphasizing simplicity with a 30% down payment and 18 post-dated cheques. Customers are reminded to cover upfront taxes and additional expenses for insurance, tracker, registration, and freight as part of the transparent payment structure.
Religious Minister Aneeq Ahmed plans to announce a more affordable Hajj policy on November 15, featuring reduced costs, a shorter 20-day program, and enhanced security measures, including QR-coded suitcases. These initiatives aim to simplify the pilgrimage experience for prospective pilgrims amidst economic challenges.
Avoid the news because it’s always too negative? Don’t worry! We focus on the positive in Pakistan.
