
Dr Imtiaz Ahmad made economic adviser to Finance Division
Dr Ahmad, a career economist belonging to the Economist Group, previously served as economic adviser at the Ministry of Finance.
He was appointed as chief economist in April 2025, filling a position that had remained vacant for several years.
Copyright Business Recorder, 2025
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Recorder
3 hours ago
- Business Recorder
Petrol price cut by Rs7.54, HSD's up by Rs1.48
ISLAMABAD: Federal government announced Rs 1.48 per litre increase in high-speed diesel (HSD) prices, despite the premium on HSD remaining stable at $3.20 per barrel. However, there is a significant relief for petrol consumers as the ex-depot petrol price has reduced by Rs 7.54 per litre, driven by a decrease of approximately $3 per barrel in global prices. The decision has been taken in fortnightly review with effect from August 1, 2025. The new price of HSD has been increased from Rs 284.35 to Rs 285.83 per litre and petrol price has come down from Rs 272.15 to Rs 264.61 per litre. Finance Division stated, 'Following a review of prevailing international market trends and upon the recommendations of OGRA and relevant ministries, the government has revised the prices of petroleum products for the next fortnight'. In the previous fortnight, the price of petrol increased by Rs5.36 per litre, while the price of HSD rose by Rs11.37 per litre. Copyright Business Recorder, 2025


Business Recorder
3 hours ago
- Business Recorder
PQFTL rating upgraded to ‘AA' (IFS) by VIS
Karachi: Pak-Qatar Family Takaful Limited (PQFTL) has been upgraded to an 'AA' Insurer Financial Strength (IFS) rating with a Stable Outlook by VIS Credit Rating Company Limited, becoming the first and only Family Takaful operator in Pakistan to achieve this milestone. The upgrade from A++ reflects PQFTL's strong financial position and commitment to Shariah-compliant practices, setting a new industry benchmark. As of end-2024, PQFTL has grown its market share from 26% in 2022 to an impressive 47%, reaffirming its role not only as a key player but also as a trailblazer in the Family Takaful sector. Commenting on this milestone, Waqas Ahmad, CEO of Pak-Qatar Family Takaful, stated: 'We are immensely proud to be the first dedicated Takaful company in Pakistan to achieve the prestigious 'AA' rating. This upgrade is a testament to the strength of our strategy, the commitment of our team, and the trust our members place in us.' VIS also noted PQFTL's strong corporate governance, guided by an experienced Shariah Supervisory Board and a well-structured Wakalah-Waqf model that ensures clear segregation between participant and shareholder interests. The company continues to enhance its IT infrastructure and cybersecurity to better serve members in an increasingly digital world. Copyright Business Recorder, 2025


Business Recorder
3 hours ago
- Business Recorder
Bank Alfalah announces Rs15.27bn PAT for H1CY25
KARACHI: The Board of Directors of Bank Alfalah Limited (BAFL), in its meeting held on Thursday, approved the Bank's financial results for the half year ended June 30, 2025. Bank Alfalah reported profit after tax (PAT) of Rs 15.27 billion for the half year ended June 30, 2025, translating to earnings per share of Rs 9.68 (June 2024: Rs 13.06). The Board of Directors declared a second interim cash dividend of Rs 2.50 per share (25%), cumulatively bringing the cash dividend for the year to Rs 5.00 per share (50%) (HY 2024: Rs 4.00 per share (40%). The Bank was able to offset the impact of interest rate cut through current account growth. Further, balance sheet positions taken last year supported both net interest income as well as resulted in opportunities for capital gains. The changing dynamics of pricing of some products and remittances added pressure on the bottom line; we expect these will majorly settle in the second half of the year. Total deposits closed at Rs 2.29 trillion. The Bank had shifted its deposit strategy towards mobilizing current account balances and granular sticky deposits to build a diversified and stable deposit base. Driven by the Bank's strategic shift towards growing low risk corporate lending while gradually increasing consumer finance as interest rates become more conducive, the Bank's loan book grew by 34.5% YoY to close at Rs 1,057.72 billion. Further, following noticeable growth in the agriculture and small and medium enterprises (SMEs) segments over the years, the Bank will continue to prioritise credit expansion towards these segments, with tailored financing solutions to foster financial inclusion. The Bank exercises strong capital management with a Capital Adequacy Ratio of 17.67% as at June 30, 2025, which is well above the minimum regulatory requirement. Copyright Business Recorder, 2025