Govt weighs ‘mini-budget’ or spending cuts ahead of IMF talks on November 8, 2024The government, led by Prime Minister Shehbaz Sharif, is gearing up for high-stakes discussions with the upcoming International Monetary Fund (IMF) staff mission, aiming to finalize a strategy by this weekend. One option under consideration is the introduction of a mini-budget, which could include seven proposed tax hikes across various sectors. However, the Federal Board […]
Pakistan’s Liquid Foreign Reserves Position on July 26, 2024July 25, 2024 The total liquid foreign reserves held by the country stood at US$ 14,335.4 million as of 19-July-2024. The break-up of the foreign reserves position is as under: i) Foreign reserves held by the State Bank of Pakistan: US$ 9,027.2 million ii) Net foreign reserves held by commercial banks : US$ 5,308.2 million […]
US dollar continues upward trajectory against Pakistani rupee on July 25, 2024The price of the US dollar reached Rs278.65 in the interbank trading against the Pakistani rupee on Wednesday. The American currency continued its upward trajectory in the interbank trading against the local unity. The KSE-100 index gained 302 points and reached the 79700 benchmark.
Workers Remittances Surge to $30.3 billion in FY2024 on July 10, 2024 KARACHI: Remittances sent by overseas Pakistanis from different countries crossed over $ 30 billion by the end of the financial year 2023-2024. According to the statistics released by the State Bank of Pakistan, the inflow of $30.3 billion in workers’ remittances increased by 10.7 percent during FY24 compared to the inflow of $27.3 billion […]
Workers Remittances Surge to $30.3 billion in FY2024 on July 10, 2024 KARACHI: Remittances sent by overseas Pakistanis from different countries crossed over $ 30 billion by the end of the financial year 2023-2024. According to the statistics released by the State Bank of Pakistan, the inflow of $30.3 billion in workers’ remittances increased by 10.7 percent during FY24 compared to the inflow of $27.3 billion […]
BIZNET24: Women’s Empowerment Key to Financial Inclusion on March 29, 2024Pakistan’s leading innovation hub, BizNet, held its highly successful third edition at the President House in Islamabad. Partnering with the Women Business Network, the event brought together industry leaders, policymakers, and startup founders. Their focus: promoting financial inclusion and advancements in technology. “Embracing Financial Inclusion & Business Transformation” served as the central theme. Iftikhar Hussain, […]
Downward slide of Dollar against Rupee By: Web Desk on August 5, 2022The US dollar continued its downward slide to the fifth consecutive day against the rupee on Friday. With the greenback shedding around Rs16 in a week in the interbank amid assurance from the IMF for the release of a USD1.17 billion tranche. In the interbank today, the US dollar shed Rs2.05 to trade at Rs224.10 […]
Kuda Technologies poised to drive financial inclusion in Pakistan By: APP on May 18, 2022ISLAMABAD: A UK-based financial services company ‘Kuda Technologies’ inwith Fatima Group and The City Schools Group has applied for a digital banking licence in Pakistan with the goal of driving financial inclusion in the country. Founded in 2019 and with over $90 million of funding from renowned institutional investors including Valar Ventures and Target Global, […]
Revenue collection surges by 28.6pc to Rs4.858t in 10 months By: APP on April 30, 2022The Federal Board of Revenue (FBR) collected net revenues of Rs4,858b during the first ten months of the current fiscal year (July-April 2021-22), showing growth of 28.6 percent over the collection of Rs3,778b during the corresponding period of last year. According to provisions figures shared by the board here on Saturday, the collection during July-April […]
NBP Exchange Rates By: APP on March 28, 2022KARACHI: Treasury Management Division of National Bank of Pakistan (NBP) on Monday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 182.40 181.90 EURO EUR […]