NADRA launches contactless biometric verification services for banking.
Service initially extended to five banks nominated by SBP for a pilot run.
Early adoption of this new technology will extend “great benefit” to financial sector as it will reduce operational costs, says SBP governor.
Economy
Parliamentary committee takes notice of overbilling issue.
Orders AGP to carry out a probe into the matter.
Minister Hammad Azhar had also issued directives to conduct screening of the bills issued since January 2021.
Banks will make use of the digital app on smartphones capturing and verifying biometrics of the potential account holders from their homes.
In terms of growth, remittances increased by 26.8 percent (y/y) in August, which is a decade high growth rate for that month. On a m/m basis, inflows were marginally lower than in July, reflecting the usual post-Eid slowdown. Nevertheless, this seasonal decline was far less this year compared to historical trends. Cumulatively, at $5.36 billion, remittances grew by 10.4% during the first two month of this year over the same period last year.
All recipient countries, including Pakistan, will have to apply for renewal of GSP Plus status beyond December 2023.
Compliance report for gauging Islamabad’s progress on 27 United Nations conventions is currently under preparation.
EU envoy says Pakistan’s progress and compliance will determine its ability to get status renewed for extended period.
Banks disbursed amounts in different stages of construction or purchase. Thus, the pace of disbursement is contingent upon the speed of construction and completion of purchasing process.
Sindh govt wants to collect around 9 billion rupees tax revenue annually through K-Electric in Karachi
AKD Securities takes an optimistic view of the Afghan situation, and sees Pakistan reaping benefits of peace and political stability.