PBA refutes misleading claims on remittance subsidies

‘Allegations that banks manipulate remittance data, launder undeclared funds, or facilitate tax evasion are baseless’ The Pakistan Banks Association (PBA) rejected on Monday misleading assertions in recent press coverage suggesting that government subsidies to banks under remittance incentive schemes serve no economic purpose. Last week, an independent policy institute urged the government to reconsider subsidising profitable banks…

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ECP to convene on SC reserved seats ruling today

Meeting to formulate implementation strategy, notify candidates’ victories as per verdict In view of the Supreme Court’s ruling on reserved seats in Pakistan’s legislative bodies, the Election Commission of Pakistan (ECP) is set to hold an important meeting today (Monday) to discuss implementation of the top court’s decision. Sources confirm that the meeting will focus on formulating…

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Pak, China eye new bloc replacing SAARC

Both sides are convinced that a new organisation is need of the hour  ISLAMABAD: Pakistan and China are working on a proposal to establish a new regional organisation that could potentially replace the now-defunct South Asian Association for Regional Cooperation (SAARC). Discussions between Islamabad and Beijing are now at an advanced stage as both sides…

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