The government’s efforts to artificially bring down the dollar rate are faltering, with market forces pushing back against a Rs250 exchange rate target and foreign currencies reportedly vanishing from the open market.
A crackdown on dollar smuggling launched on July 23 has led to a minor depreciation of around Rs3 in both...
On the occasion of Labor Day, ABHI and Soorty have released a documentary reflecting on transformative change and showcasing the impact of their collaboration on the lives of workers. From blue-collar workers to C-level executives, individuals from all walks of life have benefited from Earned Wage Access, experiencing financial...
Banks and exchange companies are facing mounting pressure to lower the dollar rate below prevailing market levels, according to sources in the financial sector.
An important meeting in Islamabad on Monday, involving senior officials from the State Bank of Pakistan (SBP), the Ministry of Finance, and bankers, discussed measures to...
Pakistan took a significant step forward in its digital transformation journey, as leaders from government, finance, and technology came together at the National Incubation Center (NIC) Karachi for a high-profile event focused on the future of digital economy and virtual assets.
The event, jointly organized by REIT Academy Pakistan, IRADAM,...
In a noteworthy development for Pakistan's economic landscape, the State Bank of Pakistan (SBP) witnesses a substantial increase in reserves, amounting to $243 million. This surge in reserves is attributed to the recent disbursement of a tranche from the International Monetary Fund (IMF), marking a positive stride in the...
Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal announced that Pakistan recorded a current account surplus of $2.1 billion in FY2025, compared to a $2.1 billion deficit the previous year— marking a positive turnaround of $4.2 billion, the highest surplus in 22 years.
While addressing a press conference...
The National Electric Power Regulatory Authority (NEPRA) has indicated a possible reduction of Rs1.80 per unit in electricity prices under the Quarterly Tariff Adjustment (QTA) for the quarter ending June 2025.
The proposed relief, if approved, could provide consumers across Pakistan with financial relief amounting to Rs53.393 billion.
The proposal was...
The Federal government has approved billions of rupees’ subsidy for the State Bank of Pakistan (SBP) to promote large scale adoption of Raast QR code-based payments at merchants’/ retail outlets.
According to the Finance Ministry to promote the adoption of digital payment methods and to ensure financial inclusion, the government...
Years of effort to install the Track & Trace System (TTS) across various sectors have fallen short of completion, painting a grim picture of the Federal Board of Revenue's (FBR) performance.
The track and trace system, inaugurated by the former government in 2021, aimed to modernize tax evasion detection and...
The Pakistani rupee strengthened against the US dollar, appreciating 0.42% during the opening hours of trading in the inter-bank market on Friday.
At 10:30am, the currency was hovering at 283.03, a gain of Rs1.19.
On Thursday, the currency settled at 284.22.
Globally, the US dollar steadied near two-week lows on Friday, on track for its...
