2 h. ago Exchange companies contribute $5 billion in remittances during FY2024

Foreign currency exchange companies in Pakistan contributed nearly $5 billion in remittances during the fiscal year 2024–25, marking a growing role in stabilizing the currency market. In June alone, they sold around $450 million to banks, according to the Exchange Companies Association of Pakistan (ECAP). ECAP Secretary General Zafar Paracha praised the State Bank of […]

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27 h. ago ECC demands fair access for farmers left out of Rs37.5bn loan scheme

The Economic Coordination Committee (ECC) has expressed concern over the exclusion of small farmers from Punjab and Sindh in a new Risk Coverage Scheme. The scheme, developed to provide financial support to farmers in underserved areas, currently covers only Khyber Pakhtunkhwa and Balochistan. The ECC has now asked the State Bank of Pakistan (SBP) to […]

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28 h. ago Pakistan’s federal debt hits Rs76 trillion – A new record high

Pakistan’s federal government debt has reached an unprecedented level of Rs76,045 billion (Rs76.045 trillion) as of May 2025, marking the highest figure in the country’s history, according to official data released by the State Bank of Pakistan (SBP). The SBP’s monthly debt bulletin shows that domestic debt accounts for Rs53,460 billion, while external debt stands […]

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28 h. ago SBP pumps Rs13 trillion into banks to calm liquidity jitters

The State Bank of Pakistan (SBP) injected over Rs13 trillion into the banking system on July 4, 2025. The move aimed to maintain short-term liquidity and support banks during inflationary pressure. This included Rs12.647 trillion through conventional Open Market Operations (OMOs), mostly in 14-day instruments at an 11.03% return. Additionally, SBP carried out a Shariah-compliant […]

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30 h. ago How many bank accounts hold deposits below Rs 50,000 in Pakistan?

KARACHI – A recent breakdown of commercial bank accounts’ balances in Pakistan reveals a significant concentration of low-value deposits, highlighting

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32 h. ago World bank injects $55M to digitally upgrade Pakistan’s power discos

The World Bank has approved an additional $55 million in financing to support Pakistan’s power sector reforms, specifically targeting Hyderabad Electric Supply Company (HESCO) and Peshawar Electric Supply Company (PESCO). The funding is part of the Electricity Distribution Efficiency Improvement Project (EDEIP), designed to modernize outdated systems and enhance the operational and financial performance of […]

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2 d. ago State Bank of Pakistan’s foreign reserves jump by $3.663 billion

KARACHI – Pakistan’s liquid foreign reserves stood at $18,091.1 million as of June 27, 2025. According to the data shared

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6 d. ago PBA Strongly Refutes Misleading Claims on Remittance Subsidies

  Karachi, June 30, 2025 – The Pakistan Banks Association (PBA) strongly rejects misleading assertions in recent press coverage suggesting that government subsidies to banks under remittance incentive schemes serve no economic purpose. Such narratives dangerously undermine public confidence at a time when Pakistan’s financial stability depends on robust formal remittance flows. When the Pakistan […]

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8 d. ago Pakistan lauds AIIB’s governance model for developing nations

Pakistan praises the Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) as a new model of multilateralism, citing its critical support after the country’s 2022 floods, and called for developing nations to have a greater voice, and even veto power, at global financial institutions, Gwadar Pro reported on Friday. Speaking at a roundtable for the AIIB’s 10th […]

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9 d. ago SBP injects Rs12.37 trillion in dual OMOs to stabilize banking liquidity

Karachi – The State Bank of Pakistan (SBP) has supplied a massive Rs12.37 trillion into the banking system via Open Market Operations (OMOs) on Friday. These injections aim to ease the short-term liquidity crunch gripping many banks. A substantial amount—Rs12.2 trillion—was provided through a conventional seven-day reverse repo, where banks deposit government securities and earn […]

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9 d. ago State bank of Pakistan declares bank holiday on july 1, public services to pause

KARACHI — The State Bank of Pakistan (SBP) has announced a bank holiday on Tuesday, July 1, 2025, during which all banks, Development Finance Institutions (DFIs), and Microfinance Banks (MFBs) will close their doors to the public. This closure means no public banking services will be available on that day. According to an official notification […]

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9 d. ago SBP reserves drop by $2.66 billion — largest weekly fall in over 3 years

The State Bank of Pakistan’s (SBP) foreign exchange reserves dropped sharply by $2.66 billion, reaching $9.06 billion as of June 20, 2025. This marks the biggest weekly decline in over three years, driven mainly by external debt repayments, including commercial loans. The last time such a steep fall occurred was in March 2022, when reserves […]

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9 d. ago State Bank of Pakistan’s foreign reserves drop by $2.657 billion

KARACHI – Pakistan’s liquid foreign reserves stood at $14,397.4 million as of June 20, 2025. According to the data released

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1 week ago World bank: Pakistan’s energy intensity twice that of regional neighbors

Pakistan uses much more energy to produce its goods compared to nearby countries, says a new World Bank report. The country’s energy intensity is 4.2 megajoules per dollar of GDP. In contrast, Bangladesh uses only 1.9 and Sri Lanka just 1.7. This means Pakistan uses more than double the energy to make the same amount […]

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1 week ago Fake Rs 1000 note goes viral on social media; state bank issues official warning

KARACHI – A new Rs 1000 currency note has gone viral on social media platforms, sparking widespread curiosity and confusion. Many users claimed that the note was recently issued by the State Bank of Pakistan. However, the State Bank has officially rejected these claims. According to a private news channel, videos and images of the […]

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1 week ago Digital payments in Pakistan jump 12% as mobile banking grows

Digital payments in Pakistan are growing fast. In the third quarter of fiscal year 2024-25, transactions rose by 12%. The total number reached 2.408 billion. Meanwhile, the overall value of these transactions also increased by 8%, reaching Rs164 trillion. The State Bank of Pakistan (SBP) shared these numbers in its latest report on payment systems. […]

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1 week ago Pakistan witnesses notable changes in digital payment landscape

KARACHI – The State Bank of Pakistan (SBP) has released its Quarterly Payment Systems Review for Q3 FY25, providing a

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1 week ago World Bank approves $194 million for two projects in Pakistan

WASHINGTON – The World Bank Board of Executive Directors has approved $194 million for two projects to enhance educational opportunities

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1 week ago Pakistan opposes India’s request to world bank over Kishanganga project

ISLAMABAD/NEW DELHI – Pakistan has strongly opposed India’s request to halt the World Bank’s proceedings against the controversial Kishanganga and Ratle hydropower projects being constructed by India in Indian-occupied Jammu and Kashmir. According to Indian media reports, India sent a letter to the World Bank-appointed neutral expert, Michael Lino, claiming that India has suspended the […]

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1 week ago Pakistan seeks 4th extension for $393m higher education project to finish IT upgrades

ISLAMABAD – The government of Pakistan has asked the World Bank for a fourth extension of its $393.73 million Higher Education Development in Pakistan (HEDP) project. The request aims to allow four more months to finish key IT and digital infrastructure work at public universities, which officials say will have a long-term impact beyond the […]

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