FDI shrinks by 59% to $461m in first six months of FY 2023
Investment in power sector falls to $237 million from $345 million. FDI shrinks by 59% to $461m in first six…
State Bank of Pakistan
Illegal channels: Pakistan’s remittances fall 19% to $2bn in Dec
Remittances decline 11% to $14.052 billion in first half of FY23. Illegal channels: Pakistan’s remittances fall 19% to $2bn in…
Saudi Arabia ready to invest more in Pakistan amid currency crisis
Saudi Crown Prince Mohammad Bin Salman instructs studying investment increase to reach $10b, deposits to $5b. Saudi Arabia ready to…
Commercial banks refuse to issue letters of credit to edible oil importers
Edible oil importers, ghee manufacturers told their LoCs can’t be opened at interbank exchange rates. Commercial banks refuse to issue…
Markup rates for export financing raised to 13%
SBP raises export financing markup rates by 200 basis points. Markup rates for export financing raised to 13%. The State…
New Currency Notes with Governor Jameel Ahmad’s Signature to be Issued from Today: SBP
Jameel Ahmad was appointed SBP governor on August 19. New currency notes with Governor Jameel Ahmad’s signature to be issued…
Pakistan’s current account deficit plunges 86% to 19-month low
Pakistan posted deficit of $276 million in November, SBP data shows. Pakistan’s current account deficit plunges 86% to 19-month low….
Pakistan’s remittances drop 14% to $2.1bn in November
Receipts contract by 4.8% in Nov compared to Oct 2022. Pakistan’s remittances drop 14% to $2.1bn in November. Remittances sent…
Alarming: Foreign exchange reserves plunge to lowest since 2019
With the current foreign exchange reserves position, Pakistan has an import cover of less than one month. Alarming: Foreign exchange…
Gold price jumps over 1% in Pakisan
Gold is considered a hedge against higher inflation and a safe store of value in times of uncertainty. Gold price…