In Pakistan, foreign banks initiated in mid 1990 the concept of electronic banking practices. Domestic banks also adopted the technology and E-banking services like ATM cards and debit cards in late 90s were introduced. The swift improvement in electronic distribution channels has produced tremendous changes in the financial industry, especially with a rising rate of change in technology. The developments happen in information and communication technology are escalating competition …

  For the past two decades, the banking sector has chosen a new service channel based on the progress of information technology – internet to respond to the changes in customer preferences and needs, increasing competition from non-banks, changes in demographic and social trends, and government deregulations of the financial service sector. In the search for sustainable competitive advantages in the technological financial service industry, banks have acknowledged the value …

  According to World Bank, Pakistan becomes the seventh largest recipient of workers remittances in 2013, with net inflows of about $15 billion. In the first nine months (July-March) of the current fiscal year (FY) under the leadership of Prime Minister Nawaz Sharif government, it has received about $11.6 billion in remittances, up 12 percent from $10.354 billion in the same period of last year. The inflows from all the …

  No doubt in terms of promoting investment and encouraging competition, Pakistan Telecommunication Authority (PTA) to some extent fulfilling its vision as at present Pakistan stands in all over the world in 9th place and in Asia it ranks 5th in Mobile phone user. The subscribers of cellular mobile in Pakistan attained the level of 128.93 million at the end of June 2013. However, in terms of protect consumer interest, PTA failed …

  Power shortfall was recorded at 2,400MW despite descending temperature due to rain. However, it may be noted that power shortfall has started rising from the level of 2,000MW and more is likely to take place soon the rainy weather is over. Present government took several initiatives to overcome the energy crisis and started enormous plan to develop not only energy resources but also energy conservation program. And one of …

  When last year at the eve of World Islamic Economic Forum, British Prime Minister David Cameron announced a plan to issue $323 million sovereign sukuk, or Islamic bond, to attract new money to London, then his announcement not come out as a surprise for in and outside Muslim countries. No doubt, Islamic finance is naturally more popular among Muslims because of their religious beliefs, with Malaysia leading the rest …

  Prime Minister Nawaz Sharif and former President Asif Ali Zardari finally inaugurated the work on the Sindh Engro Coal Mining (SECMC) project, a joint venture between government of Sindh and Engro Corporation. This marks the beginning of not only clean coal extraction from Thar Coal Block II, however, inauguration also reflects the complete political consensus on Thar Coal, as a sustainable indigenous solution for Pakistan’s energy security. The initial …

  The People’s Republic of China has reaffirmed its commitment for the multi-billion dollar project of China-Pakistan Economic Corridor (CPEC), in a letter from the Chinese President to the Pakistan premier, which further reinforce the friendship between the “iron brothers”. On the other hand, Prime Minister of Pakistan ordered Cabinet minister to remove all the “irritants” as described by Minister for Planning and Development and take them into confidence, in …