Author name: NEN News

ISLAMABAD — Finance Minister Senator Muhammad Aurangzeb announced that Pakistan’s GDP growth has risen to 3.7% for the outgoing fiscal year. This marks an increase from last year’s 3.1% and indicates a move towards sustainable growth. Emphasis on Economic Stability During the concluding session of the Federal Budget 2026-27 debate, Aurangzeb emphasized the importance of achieving macroeconomic stability. He described this milestone as critical in securing Pakistan’s long-term economic stability. Strategies for Future Growth The government aims to maintain and advance the current positive economic momentum. Moving forward, it plans to implement policies that focus on growth and stability. Enhancing investment frameworks Strengthening fiscal policies Encouraging corporate growth These measures are part of a larger strategy to ensure further economic achievements in the upcoming years.

QUETTA — Balochistan Chief Minister Mir Sarfraz Bugti has directed the Quetta Electric Supply Company (QESCO) to ensure a continuous and stable electricity supply throughout the province. This directive was issued in a meeting held with a QESCO delegation led by Abdul. Commitment to Stable Electricity The Chief Minister stressed the importance of utilizing all available resources to maintain uninterrupted power for residents. The meeting highlights the provincial government’s commitment to addressing public concerns regarding power shortages. Immediate Action Required QESCO officials have been urged to swiftly implement measures to stabilize the electricity distribution system. This involves tackling existing challenges and ensuring a consistent power supply across the region. Infrastructure and Coordination Improvements Discussions focused on improving infrastructure and enhancing coordination among stakeholders. These efforts are intended to boost the operational efficiency of the power distribution network, ensuring reliable electricity for Balochistan’s residents.

KARACHI — The Treasury Management Division of the National Bank of Pakistan (NBP) has released the updated foreign exchange rates for Thursday. The updates cover telegraphic transfer (TT) selling and buying prices for major currencies. Key Currency Rates The US Dollar trades at a selling price of 278.65 and a buying price of 278.15. The Euro’s TT selling rate is 321.04, while its buying rate stands at 320.46. The British Pound is quoted at a selling rate of 371.00 and a buying rate of 370.33. The Japanese Yen is available with a selling rate of 1.7353 and a purchasing price of 1.7322. Other Significant Currencies Below are the revised rates for several other currencies: Swiss Franc: 348.88 selling, 348.25 buying Canadian Dollar: 197.62 selling, 197.26 buying Australian Dollar: 196.10 selling, 195.75 buying Singapore Dollar: 216.56 selling, 216.17 buying Additional Currency Rates NBP has also updated the rates for additional currencies: Swedish Krona Norwegian Krone Danish Krone New Zealand Dollar Hong Kong Dollar Korean Won Chinese Yuan Malaysian Ringgit Thai Baht UAE Dirham These updated exchange rates reflect the latest adjustments by NBP in the ever-evolving foreign currency market.

KARACHI — The National Bank of Pakistan (NBP) has released its latest currency exchange rates, offering insights into the buying and selling values of various currencies in the financial market. Major Currency Rates As of Thursday, the US dollar is sold at 280.04 and bought at 277.04. The British pound selling rate stands at 372.86 with a buying rate of 368.46. The euro is available for selling at 322.65 and buying at 318.85. Regional Currency Rates Japanese Yen and UAE Dirham The Japanese yen can be sold at 1.7440 and bought at 1.7234. The United Arab Emirates dirham rates are 74.62 for selling and 73.74 for buying. Saudi Riyal The exchange rate for the Saudi riyal is 76.25 for selling and 75.35 for buying.

ISLAMABAD — The Asian Development Bank (ADB) has approved a $700 million policy-based loan to drive crucial reforms in Pakistan’s insurance sector. Goals of the Loan The main objective of this initiative is to expand insurance coverage across Pakistan, effectively addressing existing protection gaps within the sector. Boosting Private Sector Investments According to an ADB press release, the loan is designed to foster private sector investments in the insurance industry. This step aims to promote sustainable economic growth within Pakistan. Strengthening Economic Growth and Stability This financial support is vital for enhancing the financial sector in Pakistan. It promotes both economic stability and financial inclusion for citizens.

ISLAMABAD — Pakistan’s government has reaffirmed its commitment to supporting electric vehicle manufacturing and localization. This initiative aligns with the strategic goal of establishing Pakistan as a regional hub for new energy vehicles. Government’s Strategic Initiative Finance Minister Senator Muhammad Aurangzeb announced the initiative on Thursday. He met with a delegation from BYD Group and Mega Motor Company (MMC) to discuss promoting a sustainable transportation network nationwide. Partnerships for Sustainable Growth Minister Aurangzeb stressed the importance of partnering with international companies. Such collaborations are expected to significantly benefit the local economy and environment. The government prioritizes electric vehicle adoption and infrastructure development. Boosting Foreign Investment Discussions with BYD Group and MMC highlight efforts to attract foreign investment into the electric vehicle sector. This sector plays a crucial role in Pakistan’s economic and environmental strategies. Through these partnerships, Pakistan aims to boost cooperation and investment in its automotive industry, paving the way for substantial growth and development.