Author name: NEN News

QUETTA — The Balochistan government has achieved a remarkable milestone by utilizing 115 percent of its development budget for the fiscal year 2025-26. This marks a significant achievement in the province’s financial history. Record Development Fund Utilization Provincial Finance Minister Mir Shoaib Nosherwani announced that Balochistan has recorded its highest ever fund utilization rate. The funds have been strategically directed towards projects aimed at improving infrastructure and enhancing public services. Promoting Economic Growth The government’s financial strategies have been instrumental in promoting economic growth within the province. By focusing on strategic allocation, there are expected improvements in economic infrastructure, which will contribute significantly to public welfare. Implementing Digital Reforms In conjunction with effective fund usage, the Balochistan government has introduced digital reforms to streamline governance. These initiatives aim to enhance service delivery, improve operational efficiency, and increase transparency within government operations.

ISLAMABAD — Pakistan Single Window (PSW) has been recognized as a winner at the Asia-Pacific Trade Facilitation Innovation Awards 2026. The announcement came via a press release on Wednesday. Award Ceremony at Paperless Trade Week The prestigious award was presented during the Paperless Trade Week 2026 held in Bangkok. This significant event was organized by the Asian Development Bank (ADB) along with international partners. The focus was on innovations that enhance trade facilitation processes. PSW’s Impact on Trade Facilitation Winning this award on a global stage highlights PSW’s essential role in improving trade facilitation processes. It is a testament to PSW’s commitment to pioneering innovation throughout the Asia-Pacific region.

ISLAMABAD — Pakistan’s food exports reached $4.598 billion in the first 11 months of the fiscal year, according to official data. Export Decline This represents a significant 31.86% decline compared to the $6.748 billion recorded in the same period last year. Economic Challenges The sharp drop in food exports reflects various economic challenges facing the sector. Contributing Factors Key Issues Analysts point to several factors contributing to the decline: Shifts in global demand Logistic constraints Domestic production issues These factors have collectively affected the export figures significantly.

ISLAMABAD — Pakistan’s technology exports have reached a record $4.2 billion in the first 11 months of the fiscal year 2025-26. This notable achievement represents a significant 20% increase from the previous year, based on insights from Khurram Schehzad, Advisor to the Finance Minister. Factors Driving Growth On Wednesday, Schehzad highlighted key factors contributing to the information technology sector’s growth. These include: Enhanced infrastructure Strong governmental policy support These elements together have established a robust foundation for the sector’s remarkable performance. Economic Impact The burgeoning technology sector underscores its vital role in Pakistan’s economy. This success reflects the country’s growing stature in the international market and the rising global demand for Pakistani technological services. Future Developments As Pakistan’s presence in the international market strengthens, the government remains dedicated to encouraging further growth in the tech sector. It aims to foster conditions that continue to support expansion and economic prosperity.

Gold prices have risen for the fifth consecutive session as of Wednesday. Spot gold increased by 0.3 percent, reaching $4,341.12 per ounce at 0230 GMT. This surge brings the precious metal close to a one-week high previously achieved on Monday. Gold Futures Upward Trend in the US In the United States, gold futures for August delivery also demonstrated an upward trend. These futures rose by 0.2 percent, reaching $4,361.10 per ounce. The persistent rise indicates a positive outlook for gold investments in the coming months. Gains in Other Precious Metals Alongside gold, other precious metals recorded gains. Spot silver increased by 0.3 percent, reaching $70.38 per ounce. Platinum saw a 0.5 percent rise, with prices moving to $1,812.80 per ounce. Additionally, palladium rose by 0.3 percent, reaching $1,355.65 per ounce.

ISLAMABAD — The Rawalpindi Chamber of Commerce and Industry (RCCI) conducted a post-budget session on Wednesday to review the Federal Budget 2026. The event attracted business leaders, members, and stakeholders for a comprehensive analysis of proposed fiscal measures. Analyzing Budget Implications The session served as a platform to discuss the implications of the new budget across various sectors. The business community provided valuable feedback concerning potential impacts. Effects on Trade and Commerce Participants examined how the budget may affect trade, commerce, and industry. They shared insights and expressed concerns over budgetary allocations and policies, highlighting critical areas requiring attention. Strengthening Government-Business Dialogue RCCI sessions like this one foster dialogue between the government and business entities. These discussions reflect the private sector’s perspective on national financial planning. The feedback is intended to help policymakers make informed adjustments to economic strategies, ensuring alignment with the business community’s needs.

The National Bank of Pakistan (NBP) has released its latest currency exchange rates, which impact buying and selling transactions for major currencies. Major Currency Rates The updated rates from NBP show the US dollar with a selling price of 280.09 and a buying rate of 277.09. The British pound has a selling rate of 376.13, with a buying rate of 371.68. Euro and Japanese Yen The euro is priced at a selling rate of 325.22, while the buying rate is 321.40. The Japanese yen shows a selling price of 1.7473, and its buying rate is 1.7267. Regional Currency Rates The UAE dirham has a selling price of 74.64 and a buying rate of 73.76. The Saudi riyal’s selling rate is 76.26, with a buying rate of 75.36. These updated exchange rates offer crucial insights for investors and businesses engaged in international trade.