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Over Half of Pakistani Bureaucrats Own Properties in Portugal, Says Defence Minister

MInahil Abbasi
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Over Half of Pakistani Bureaucrats Own Properties in Portugal, Says Defence Minister

Pakistan’s Defence Minister revealed that more than 50% of the country’s bureaucrats have purchased properties in Portugal. The disclosure raises concerns about capital flight and possible misuse of public resources, sparking debate over transparency, accountability, and the financial priorities of senior government officials.

Over 50% of Pakistani bureaucrats reportedly own properties in Portugal, according to the Defence Minister. The revelation has fueled discussions on asset disclosure, financial transparency, and the potential implications for governance and public trust in the country’s administrative leadership.
Pakistani bureaucrats, Portugal properties, asset disclosure

Bank of Punjab Announces Recruitment for Banking Officers

MInahil Abbasi
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Bank of Punjab Announces Recruitment for Banking Officers

The Bank of Punjab has opened applications for the position of Banking Officers across multiple branches. The hiring initiative aims to attract qualified professionals to strengthen the bank’s workforce and enhance service delivery. Candidates are encouraged to apply as part of the bank’s expansion and talent development plans.

The Bank of Punjab is seeking applications for Banking Officers to boost operational capacity and service quality. This recruitment drive reflects the bank’s growth strategy and commitment to developing skilled human resources in the financial sector.
Bank of Punjab, banking jobs, recruitment drive

CCoSOEs Urges Timely Appointments for SOEs, Approves New Boards

MInahil Abbasi
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CCoSOEs Urges Timely Appointments for SOEs, Approves New Boards

The Cabinet Committee on State-Owned Enterprises (CCoSOEs) has emphasized the need for timely appointments in state-owned enterprises to improve governance and efficiency. The committee also endorsed the constitution of new boards, aiming to strengthen decision-making and operational performance in line with corporate governance best practices.

The CCoSOEs called for prompt appointments in SOEs and approved new boards to enhance governance, accountability, and operational performance. The move is part of broader reforms to ensure efficient management and improved service delivery in Pakistan’s public sector entities.
state-owned enterprises, governance reforms, Pakistan government

MCB Bank Reports Rs. 27.31 Billion Profit in First Half of 2025

MInahil Abbasi
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MCB Bank Reports Rs. 27.31 Billion Profit in First Half of 2025

MCB Bank Limited has announced a profit of Rs. 27.31 billion for the first half of 2025, reflecting strong financial performance amid challenging economic conditions. The bank’s earnings highlight robust operations, effective cost management, and steady growth in its core banking segments.

MCB Bank earned Rs. 27.31 billion in the first half of 2025, showcasing resilience despite economic headwinds. The bank attributed its strong results to stable revenue streams, prudent expense control, and consistent customer demand across retail and corporate segments, reinforcing its market position as one of Pakistan’s leading banks.
banking sector, Pakistan economy, corporate earnings

Zindigi Freelancer Connect Launches Nationwide Series from Peshawar

MInahil Abbasi
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Zindigi Freelancer Connect Launches Nationwide Series from Peshawar

Zindigi, in collaboration with Edversity and hosted at CECOS University in Peshawar, kicked off its first Freelancer Connect event on July 31, 2025. The event aimed to empower Pakistan’s freelance community through keynotes, networking sessions, and the introduction of Zindigi’s USD-based freelancer account with global transaction features.

Freelancers and digital professionals from across Khyber Pakhtunkhwa participated in panels, training programs, and mentorship sessions. Zindigi showcased its low-fee international payment solutions and invoice generation tools, tackling key challenges faced by freelancers. The initiative will now continue across major cities in Pakistan to promote digital financial inclusion and freelance growth.

freelancer finance access, Zindigi Freelancer Connect, Peshawar freelance event

Government Reduces Circular Debt by Rs 780 Billion

MInahil Abbasi
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Government Reduces Circular Debt by Rs 780 Billion

Pakistan’s power sector circular debt has been reduced by Rs 780 billion in the fiscal year 2024-25, bringing the total debt load down to approximately Rs 1.614 trillion. This reduction is attributed to improved distribution company performance, decreased line losses, enhanced revenue recovery, and renegotiated IPP contracts.

Additionally, the government has secured Rs 1.275 trillion in bank financing to further eliminate arrears—without imposing extra surcharges on consumers. Though progress is acknowledged, stakeholders warn that reliance on borrowing may impact long-term sustainability without structural reforms.

circular debt reduction, power sector reform, tariff adjustment ahead

Pakistan Posts 9-Year Low Budget Deficit in FY25

MInahil Abbasi
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Pakistan Posts 9-Year Low Budget Deficit in FY25

In fiscal year 2024-25, Pakistan recorded its lowest budget deficit in nearly a decade at 5.38% of GDP, equal to around Rs 6.17 trillion. This beat both government and IMF projections due to strong revenue growth, with tax and non-tax revenues rising by 36% year-on-year while expenditures increased by only 18%.

Tax revenue jumped 26%, supported by record Federal Board of Revenue collections, while non-tax income surged 66%, largely from a Rs 2.62 trillion dividend from the State Bank of Pakistan. The tax-to-GDP ratio reached 11.3%, a seven-year high. Pakistan also posted a primary surplus of 2.4% of GDP, the highest in more than 20 years.

This fiscal performance boosted investor confidence, helping the Pakistan Stock Exchange hit record highs as both foreign and local inflows grew.
budget deficit FY25, Pakistan fiscal discipline, revenue growth

FIA Launches Probe into Mardan-Based Tobacco Firm Over Tax Evasion & Money Laundering

MInahil Abbasi
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FIA Launches Probe into Mardan-Based Tobacco Firm Over Tax Evasion & Money Laundering

Pakistan’s Federal Investigation Agency (FIA) is conducting a detailed investigation into Universal Tobacco Company (UTC), based in Mardan, over serious allegations of Federal Excise Duty (FED) fraud, tax evasion, and money laundering. The inquiry—led by the FIA’s Corporate Crime Circle under Enquiry No. 46/2025—examines suspected underreporting of production, manipulated sales records, misuse of the FBR’s Track & Trace stamp system, and possible collusion with tax officials.

Authorities are reviewing income tax returns, excise duty filings, production data, and raw material import documents covering the past three years.The case highlights systemic vulnerabilities in Pakistan’s tobacco regulatory environment, where an estimated 40% of the cigarette market operates outside formal taxation, undermining authorities’ efforts. FIA officials are seeking to strengthen oversight, expose collusion, and recover substantial evaded revenues.

federal excise duty fraud, tobacco industry probe, FIA tax investigation

NAB to Auction Malik Riaz’s Bahria Town Properties

MInahil Abbasi
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NAB to Auction Malik Riaz’s Bahria Town Properties

The National Accountability Bureau (NAB) will auction six prominent Bahria Town properties linked to Malik Riaz in Rawalpindi and Islamabad on August 7, 2025, at its Rawalpindi office. The Islamabad High Court has allowed the proceedings to go ahead after rejecting petitions against the move. Previously seized under a plea-bargain agreement in the £190 million Al-Qadir Trust case, the assets include corporate offices, educational academies, and recreational facilities within Bahria Town developments.

The auction aims to recover significant funds through the sale of high-value Bahria Town properties.
NAB auction, Bahria Town properties, Malik Riaz asset sale

NADRA Launches Major Upgrades to Pak-ID Mobile App

MInahil Abbasi
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NADRA Launches Major Upgrades to Pak-ID Mobile App

NADRA has rolled out an upgraded version of its Pak-ID mobile application, introducing new features to make identity services more accessible and convenient. Key enhancements include real-time tracking of ID application status, facial biometric verification at the start of the process, viewing family records without biometric checks, appointment booking at NADRA centers, a redesigned interface, and integrated multiple payment options such as Visa, Mastercard, Easypaisa, JazzCash, and e-Sahulat.

These updates aim to digitize public services, improve user experience, and benefit citizens both in Pakistan and abroad.
Pak-ID upgrades, NADRA digital services, biometric verification app

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