Caretaker Federal Minister Dr. Shamshad Akhtar highlighted the success of the Asaan Mobile Account initiative during the Pakistan Spotlight Day at the WEF – Edison Alliance event, resulting in 8.5 million new bank accounts, including 3.2 million for women. She also commended the 1 Billion Lives Challenge’s achievements and stressed the crucial role of replicating such initiatives in sectors like healthcare and education across developing economies.
Remittances from overseas Pakistanis surged by 10% YoY to $2.46 billion in October 2023, reaching the highest level since March 2023. Notably, inflows from top contributors Saudi Arabia, the UAE, and the US increased, though the cumulative remittances for the first four months of fiscal year 2023-24 declined by 13% to $8.79 billion.
China has granted approval for the export of Pakistani milk and dairy products, including cow’s and camel’s milk, starting from November 6. Stringent requirements cover various aspects, from animal sourcing to processing and labeling.
Digitt+ is reshaping agri-fintech in Pakistan, providing farmers with tailored financial solutions. With a strong focus on financial inclusion, it aims to empower the agricultural community with technology-driven innovations.
National Foods secures four accolades, with three from the Dragons of Pakistan and one from Dragons of Asia, showcasing their marketing prowess in the FMCG sector. These awards underscore their global impact and leadership in enriching lives.
PSX hits a record high, surpassing 54,000 points, fueled by optimism in IMF negotiations, monetary policy expectations, and the prospect of political stability ahead of elections. IMF’s review mission may lead to a $700 million tranche release by December 2023 if talks prove successful.
Pakistan’s Himalayan pink salt, showcased at CIIE, comes from extensive salt deposits, including the world-famous Khewra Salt Mine. Pakistan aims to safeguard its salt’s origin through Geographical Indication, while its exports to China have shown growth, albeit with a slight decline in the first half of this year.
Meezan Apni Bike Financing offers flexibility with 1, 2, or 3-year terms, enabling customers to buy motorcycles from popular brands. Customers in major Pakistani cities can make payments through direct debit, and the financing follows Shariah-compliant Musawammah mode, with strict document requirements based on employment status.
The Pakistan Stock Exchange’s KSE-100 index achieved an “all-time high,” surpassing 53,000 points with a 1 percent gain, signaling improved market confidence. Analysts expect reduced economic and political uncertainties to continue driving the market upward, although valuations remain relatively low when considering dividends and bonuses.
General elections in the country have been set for February 8th next year following discussions between the President and the Chief Election Commissioner, in compliance with a Supreme Court directive. The meeting also assessed the progress of election preparations and delimitation by the Election Commission of Pakistan.
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