The foreign exchange reserves of the State Bank of Pakistan (SBP) declined $276 million to $11.448 billion during the week ended on Jan 17 due to external debt repayments, reported the central bank on Thursday. Finance Minister Mohammad Aurangzeb said in Davos that Pakistan had agreed terms for a $1bn loan with two Middle Eastern banks at 6 to 7pc interest rate. The country is in a problema
Pakistan State Oil Managing Director Syed Muhammad Taha has said that empowering the board of management with regulatory powers is critical to ensuring the company’s sustainability and enabling it to compete effectively in an increasingly challenging market. During a meeting of the Senate Standing Committee on Petroleum held at the PSO headquarters on Thursday to review the challenges facing th
A high-ranking delegation from the World Bank on Thursday visited National Database and Registration Authority (Nadra) and was briefed over the progress made under the Digital Economy Enhancement Project (Deep), a key initiative designed to strengthen Pakistan’s digital economy and digital ID systems. The World Bank delegation was led by Mr Martin Raiser, Vice President for the
Pakistan’s raw food exports grew 13.83 per cent to $3.96 billion in July-December 2024-25 compared to $3.48bn in the same period last year, mainly due to increased rice shipments. Exports of foodstuffs have risen for the past 17 months despite unprecedented food inflation. As a result, consumers are paying higher prices because of supply and demand gaps. Official figures compiled by the Paki
Planning and Development Minister Ahsan Iqbal has assured the foreign investors of consistency in the policies to make Uraan Pakistan successful. He recalled three such initiatives had crashed in the past owing to inconsistent policies and political instability, he told a press conference after a meeting with the members of Overseas Investors Chambers of Commerce and Industry (OICCI) on Thursday.