National
January 29, 2021
ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Asad Umar has said that the biggest challenge for the government was fixing the cash bleeding energy sector and the government had finalised a roadmap for bringing reforms.
“The whole electricity sector from generation to transmission and distribution has been strangulated by the Government of Pakistan and the main reforms are doing away from clutches of GoP and to introduce market driven private sector-owned reforms,” Federal Minister Asad Umar said while addressing the 13th All Pakistan Chambers President Conference (APCPC), organized by the Rawalpindi Chambers of Commerce and Industries (RCCI) in collaboration with the Jang Media Group here on Thursday.
Foreign Direct Investment (FDI) to Pakistan decreased by 29 percent during the first half of the fiscal year 2020-21 (July to December 2020), central bank
CDC launches Pakistan’s first fintech platform
Objective is to raise share of mutual fund asset class from 1.6% to 5% of GDP
A Reuters file image
KARACHI:
The Central Depository Company (CDC) has launched Pakistan’s first fintech platform allowing masses to compare and invest in various mutual funds with the aim of enhancing the share of mutual fund asset class from a meagre 1.6% of gross domestic product (GDP) to 5% over the next two to three years.
The company, through its subsidiary ITMinds, has launched pilot version of a digital platform to support the mutual fund industry.
This platform, named Emlaak Financials, will function as a digital distribution channel initially for mutual funds and later for other asset classes as well.
Naya Pakistan Certificates Bring Investments at Your Fingertips
The State Bank of Pakistan and the Government of Pakistan launched the Roshan Digital Account in collaboration with eight of the leading banks of Pakistan including Bank Alfalah.
This revolutionary product allows millions of Pakistanis across the world to instantly open an account through a completely digitized process and gain access to a plethora of services.
In addition to utility bill payments and e-commerce transactions, the Roshan Digital Account also provides lucrative investment opportunities in the Government of Pakistan’s latest offering, the Naya Pakistan Certificates.
The Government of Pakistan has collaborated with the State Bank of Pakistan to develop the Naya Pakistan Certificates, which are high yielding sovereign investment certificates for Foreign Currency Value Account (FCVA) holders, and Pakistani Rupee Value Account (NRVA) holders.