Everything you need to know about Rs1500 prize bond draw
The National Savings Center in Multan will hold the upcoming 1500 prize bond draw in Multan on February 17th.
SBP grants first digital banking licence to easypaisa
The State Bank of Pakistan (SBP) has officially granted Easypaisa Bank Ltd. the first-ever digital retail bank (DRB) licence in Pakistan.
How much have Pakistan’s IT exports grown in five years?
ISLAMABAD: Developing countries like Pakistan aim to increase exports while limiting imports to improve economic indicators and keep the country on the path of development. Pakistan faces a high trade deficit, the gap between imports and exports. The efforts and priorities of various governments have been to reduce imports and
Pakistan to enter new currency notes in circulation in 2025
KARACHI: State Bank of Pakistan (SBP) Governor Jameel Ahmad has announced a major update regarding the introduction of new currency notes in circulation in 2025. In a media talk on Monday, the central bank chief said that newly designed currency notes will be printed in phases and will be marketed
Pakistan’s remittances increase by 29% in 2024
KARACHI: The State Bank of Pakistan has released its remittances report for December 2024. The State Bank said overseas Pakistanis sent $3.07 billion back home in December. The remittances sent by the Pakistani diaspora via official channels increased by 29.3 percent year-on-year and 5.6 percent month-on-month in December 2024. Pakistanis
Debt servicing drains dollar reserves, reports SBP
KARACHI: The State Bank of Pakistan has reported a reduction of $143 million in its foreign exchange reserves, attributed to external debt repayments. Details show that the impact of financial commitments caused the reserves to drop to $11.71 billion. However, throughout the preceding week, dollar deposits at commercial banks increased
SBP announces bank holiday on January 1
ISLAMABAD: The State Bank of Pakistan (SBP) has declared a holiday in all private banks and financial institutions on Wednesday, January 1, 2025. According to the notification issued on Saturday, all banks, Development Finance Institutions (DFIs), and Microfinance Banks (MFBs) will remain closed for public dealing on January 1. The
Pakistan’s KSE-100 index crosses 116,000 points mark again
KARACHI: Pakistan’s KSE-100 index continued its momentum marking an impressive gain of 1300 points on Wednesday as investors expressed confidence after the State Bank of Pakistan (SBP) reduced the policy rate. The PSX benchmark KSE-100 Index continued yesterday’s rally and 1300 points during the opening hours of trading on Wednesday.
PM Shehbaz praises 10-year high $729m current account surplus
WEB DESK: Prime Minister Shehbaz Sharif expressed his satisfaction on Tuesday as Pakistan recorded a remarkable $729 million current account surplus in November 2024, marking the highest surplus in a decade. This achievement reflects the government’s ongoing efforts to manage the country’s economic challenges and signals a positive shift in
Pakistan’s IT exports drop, ending year-long growth
WEB DESK: Pakistan’s IT exports dipped for the first time in just over a year, breaking a trend of 13 consecutive months of growth. According to the State Bank of Pakistan (SBP), IT exports in November 2024 decreased by $6 million from October, falling by 2 per cent month-on-month. IT