The government has launched a Rs1.1 trillion scheme for small and medium enterprises (SMEs) to bring growth and create jobs on a larger scale. According to a circular issued by the SBP on Thursday, the scheme is part of the government and SBP’s efforts to double the size of SME financing to Rs1,100 billion over the next five years. Taking cognisance of the SMEs’ importance in inclusive econo
The State Bank of Pakistan’s (SBP) foreign exchange reserves increased by $75 million to $9.102 billion during the week ending July 26, announced the central bank on Thursday. The SBP did not mention the source of this inflow. However, the market people know the central bank regularly buys dollars from the interbank market to build its reserves. “Before this increase, the SBP’s forex holding
Pakistan’s merchandise exports rose 11.83 per cent to $2.31 billion in the first month of the new fiscal year from $2.06bn in the corresponding month last year, according to data released by the Pakistan Bureau of Statistics (PBS) on Thursday. On a month-on-month basis, exports saw a decline of 9.77pc from June. In FY24, exports rose 10.54pc to $30.64bn from $27.72bn in the preceding year. E
An investigation by the National Electric Power Regulatory Authority (Nepra) has revealed that millions of consumers across the country were subjected to ‘inflated bills’ during the April-June period as they lost their entitlement to subsidised rates and slab benefits. A report based on information and data provided by Power Information Technology Company (PITC) — a subsidiary of the power divi
The stock market staged a robust rally ahead of Monday’s anticipated interest rate cut, helping the benchmark KSE 100 index snap its losing streak triggered by growing political noise last week. Contrary to last week’s trend, Topline Securities Ltd noted in its market report that equities initiated the week on a bullish note ahead of the State Bank of Pakistan’s Monetary Policy Committee meetin