Pakistan’s remittance surge 35 per cent in first four months of FY25
KARACHI: The latest statistics from the State Bank of Pakistan (SBP), issued on Friday, show that remittances by expatriate Pakistani laborers rose by 34.7 per cent in the first four months of the current financial year 2025, hitting $11.8 billion as opposed to $8.8 billion during the same interval last
SBP reserves rise by $18 million, reaching $11.17 billion
The State Bank of Pakistan’s foreign exchange reserves have risen by $18 million, reaching a 30-month high. on Thursday. The State Bank of Pakistan has released the weekly data of foreign exchange reserves, according to which reserves have reached a 30-month high. According to the State Bank, the dollar reserves
Legendary cricketer Zaheer Abbas appointed to PCB governing board
Pakistan cricket legend Zaheer Abbas became part of the Pakistan Cricket Board (PCB) governing board. According to the spokesperson, Asian Bradman has been nominated by the State Bank to the Governing Board. The spokesman said that the number of governing boards of PCB has not been increased, Zaheer Abbas has
Pakistan receives first tranche from IMF Program
The State Bank of Pakistan (SBP) has received the first tranche of $1.027 billion from the International Monetary Fund (IMF) as part of the 37-month Extended Fund Facility (EFF) worth $7 billion. Moreover, this inflow, equivalent to 760 million SDR, was confirmed in a statement by the central bank on
SBP foreign reserves reach $9.53 billion following $24 million increase
The State Bank of Pakistan (SBP) has reported a weekly increase of $24 million in its foreign exchange reserves, bringing the total to $9.53 billion as of September 20. Moreover, total liquid foreign reserves for the country stand at $14.87 billion, with commercial banks holding $5.34 billion in net foreign
SBP records Rs3.4 trillion profit in FY24
The State Bank of Pakistan (SBP) posted a historic profit of Rs3.4 trillion for FY24, marking a significant boost to the cash-strapped federal government. According to audited accounts, the central bank’s earnings saw a remarkable rise from Rs1.1 trillion in FY23. Mohammed Sohail, CEO of Topline Securities, highlighted that the
Pakistan’s remittances reach $2.94 billion in August
According to the State Bank of Pakistan, remittances reached $2.94 billion in August. Additionally, Pakistan received $150 million in other foreign inflows during the same month. Moreover, Pakistan imported goods worth $4.71 billion and exported goods worth $2.48 billion in August. In addition, the trade deficit for the month stood
Economy shows signs of recovery amid govt-military collaboration
Pakistan’s economy is showing significant signs of recovery due to the coordinated efforts of the federal government and military leadership, dispelling widespread rumors of a possible default. Moreover, positive economic developments in recent days have signaled a brighter future of growth and prosperity for the country. The State Bank of
IMF board set to review Pakistan’s programme on Sept 25
The International Monetary Fund (IMF) has scheduled a board meeting for September 25 to review Pakistan’s $7 billion Extended Fund Facility (EFF). This follows the completion of the previous $3 billion loan program and significant policy adjustments by Pakistan, including a 40% tax revenue increase and energy price hikes. Moreover,
Art competition designs not shortlisted for future banknotes: SBP
The State Bank of Pakistan (SBP) has clarified that the recent art competition winners are not the shortlisted designs for the new banknote series. Moreover, the actual designs are being developed by internationally renowned firms, set to submit proposals by December 2024, with final approval expected in January 2025. Read
