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KARACHI — The Financial Markets Association of Pakistan’s Exchange Rates Committee has issued the latest foreign exchange rates bulletin for July 10, 2026. This announcement, made on Friday, provides the conversion rates for major currencies applicable for forward cover and deposits, excluding FE-25 deposits, with the State Bank of Pakistan (SBP) settlement value date set for July 14, 2026. What Happened The Exchange Rates Committee released the conversion rates for several major currencies, reflecting the current economic conditions and market demand. As per the bulletin, the conversion rate for the US dollar (USD) stands at 278.0266, while the British pound (GBP) is at 372.9727. The euro (EUR) has been pegged at 317.8678, and the Japanese yen (JPY) is valued at 1.7125. These rates are crucial for businesses and individuals engaged in international trade and finance, as they provide a benchmark for currency conversion and risk management. The issuance of these rates is a routine yet essential function of the Financial Markets Association of Pakistan, aimed at ensuring transparency and stability in the foreign exchange market. The rates are determined based on various factors, including international market trends, domestic economic policies, and geopolitical developments that influence currency valuations. Background The Financial Markets Association of Pakistan plays a pivotal role in the country’s financial sector, particularly in the foreign exchange market. Established to promote the development of financial markets and enhance their efficiency, the association provides a platform for market participants to collaborate and share information. The Exchange Rates Committee, a key component of the association, is responsible for issuing regular bulletins that detail the prevailing exchange rates for major currencies. Historically, Pakistan’s foreign exchange market has been influenced by various factors, including trade balances, foreign investment inflows, and remittances from overseas Pakistanis. The State Bank of Pakistan, as the central bank, regulates the market to maintain monetary stability and manage inflation. The exchange rates released by the Financial Markets Association serve as a guide for financial institutions, businesses, and individuals engaged in foreign exchange transactions. Why It Matters The release of updated foreign exchange rates is significant for several reasons. Firstly, it provides businesses with the necessary information to make informed decisions regarding international trade and investment. Accurate and timely exchange rate information is crucial for pricing goods and services, managing currency risk, and optimizing financial performance. For the broader economy, stable and transparent exchange rates contribute to economic stability and investor confidence. By providing a reliable reference point for currency conversion, the Exchange Rates Committee helps mitigate the risks associated with exchange rate volatility, which can have far-reaching implications for inflation, interest rates, and economic growth. On a global scale, Pakistan’s exchange rates are closely watched by international investors and financial institutions. The country’s economic policies, trade relations, and geopolitical developments all play a role in shaping the perception of its currency’s stability and attractiveness. As such, the regular issuance of exchange rate bulletins is an essential component of Pakistan’s efforts to maintain its standing in the international financial community. Key Takeaways The Financial Markets Association of Pakistan released updated foreign exchange rates for July 10, 2026. The rates include USD at 278.0266, GBP at 372.9727, EUR at 317.8678, and JPY at 1.7125. These rates are crucial for businesses and individuals engaged in international trade and finance. The Exchange Rates Committee plays a vital role in ensuring transparency and stability in the foreign exchange market. Stable exchange rates contribute to economic stability and investor confidence in Pakistan. Source Attribution This article is based on official government statements, press releases, and public communications from relevant authorities. Author: NEN Editorial Desk | Editor: NEN Newsroom | Fact Checked By: NEN Editorial Team Author: NEN Editorial Desk  |  Editor: NEN Newsroom  |  Last Updated: July 10, 2026  |  Source: NEN Reporter This article was produced by the NEN Editorial Desk in accordance with NEN Agency’s Editorial Policy and Fact-Checking Policy.

ISLAMABAD — The World Bank has approved $375.9 million in financing to enhance Pakistan’s electricity transmission network. Announced on Friday, this funding marks the commencement of the Grid Stability Enhancement Project, a decade-long initiative aimed at reducing power outages and integrating clean energy sources across the country. What Happened The World Bank’s Board of Executive Directors sanctioned the substantial financial package to support the first phase of Pakistan’s Grid Stability Enhancement Project. This initiative is designed to modernize the national power transmission grid, which has long been plagued by inefficiencies and frequent outages. The project seeks to address these issues by upgrading infrastructure and incorporating advanced technologies to ensure a more reliable and efficient electricity supply. The approved funds will be utilized to improve the grid’s capacity and stability, thereby facilitating the integration of renewable energy sources such as wind and solar power. This is particularly crucial for Pakistan, a country that has been striving to increase its share of clean energy in the overall energy mix. The project is expected to significantly reduce transmission losses and improve the quality of electricity supplied to consumers. In a statement, the World Bank emphasized the importance of this project in supporting Pakistan’s energy transition. “This project is a critical step towards enhancing the reliability of Pakistan’s electricity supply, which is essential for economic growth and improving the quality of life for its citizens,” the statement read. Background Pakistan’s power sector has historically faced numerous challenges, including outdated infrastructure, high transmission losses, and frequent power outages. These issues have been exacerbated by the increasing demand for electricity due to population growth and industrial expansion. In recent years, the government has made efforts to address these challenges through various reforms and investments in the energy sector. The focus has been on diversifying the energy mix, reducing reliance on imported fuels, and increasing the share of renewable energy. The Grid Stability Enhancement Project is part of these broader efforts to overhaul the power sector and ensure a sustainable and reliable electricity supply. Why It Matters The approval of this financing by the World Bank is a significant development for Pakistan’s energy sector. By modernizing the power transmission grid, the project aims to reduce the frequency and duration of power outages, which have long been a source of frustration for businesses and households alike. Reliable electricity supply is crucial for economic activities, and any improvement in this area is expected to have a positive impact on the country’s economic growth. Moreover, the integration of clean energy sources into the national grid aligns with Pakistan’s commitments to reduce carbon emissions and combat climate change. As the country seeks to meet its international obligations under the Paris Agreement, projects like the Grid Stability Enhancement Project are vital for transitioning to a more sustainable energy system. Additionally, the project is expected to create job opportunities in the energy sector, both during the construction phase and in the long term, as a more reliable power supply supports industrial growth and development. Key Takeaways The World Bank has approved $375.9 million for Pakistan’s Grid Stability Enhancement Project. The project aims to modernize the national power transmission grid and integrate clean energy sources. It is part of a 10-year program to reduce power outages and improve electricity supply. The initiative supports Pakistan’s efforts to transition to a sustainable energy system. The project is expected to have positive economic and environmental impacts. Source Attribution This article is based on official government statements, press releases, and public communications from relevant authorities. Author: NEN Editorial Desk | Editor: NEN Newsroom | Fact Checked By: NEN Editorial Team Author: NEN Editorial Desk  |  Editor: NEN Newsroom  |  Last Updated: July 10, 2026  |  Source: NEN Reporter This article was produced by the NEN Editorial Desk in accordance with NEN Agency’s Editorial Policy and Fact-Checking Policy.

ISLAMABAD — Prime Minister Shehbaz Sharif on Friday underscored the necessity of achieving balanced progress across the United Nations’ three foundational pillars: peace and security, development, and human rights. This call was made during his meeting with Rebeca Grynspan, a candidate for the United Nations Secretary-General position, held at the Prime Minister’s House. What Happened During the meeting, Prime Minister Shehbaz Sharif highlighted the interconnected nature of the United Nations’ core objectives, emphasizing that progress in one area should not come at the expense of another. “A holistic approach is essential to ensure sustainable and equitable global development,” he stated. The Prime Minister expressed Pakistan’s commitment to supporting the UN’s efforts in maintaining international peace and security while promoting human rights and development. Rebeca Grynspan, currently the Secretary-General of the United Nations Conference on Trade and Development (UNCTAD), was visiting Pakistan as part of her campaign for the top UN position. She acknowledged Pakistan’s contributions to UN peacekeeping missions and its role in advocating for the rights of developing nations. “Pakistan has been a steadfast partner in the UN’s mission, and its voice is crucial in shaping the future direction of our global efforts,” Grynspan remarked. The meeting also covered discussions on global challenges such as climate change, economic disparities, and the need for international cooperation in addressing these issues. Prime Minister Sharif reiterated Pakistan’s stance on climate justice, highlighting the disproportionate impact of climate change on developing countries. Background The United Nations was founded in 1945 with the primary objectives of maintaining international peace and security, promoting sustainable development, and protecting human rights. Over the decades, these pillars have guided the organization’s efforts in addressing global challenges. Pakistan has been an active member of the UN since its inception, contributing significantly to peacekeeping missions and advocating for the rights of developing countries. In recent years, the UN has faced criticism for perceived imbalances in its approach to these pillars, with some member states arguing that economic development and human rights have been overshadowed by security concerns. The call for balanced progress is part of a broader debate on how the UN can more effectively address the interconnected challenges facing the world today. Why It Matters The Prime Minister’s emphasis on balanced progress across the UN’s pillars is significant for several reasons. Economically, it highlights the need for equitable development strategies that do not compromise human rights or peace initiatives. For Pakistan, a country grappling with economic challenges and security concerns, this approach underscores the importance of integrated policy-making that addresses multiple dimensions of development. Socially, the call for balance resonates with the global push for human rights, particularly in regions where these rights are under threat. By advocating for a comprehensive approach, Pakistan positions itself as a leader in promoting a more equitable international order. Politically, this stance reinforces Pakistan’s commitment to multilateralism and its role within the UN. As a member of various UN bodies, Pakistan’s advocacy for balanced progress could influence future policy directions and strengthen its diplomatic ties with other member states. Internationally, the emphasis on balanced progress aligns with global efforts to achieve the Sustainable Development Goals (SDGs), which aim to eradicate poverty, protect the planet, and ensure prosperity for all by 2030. By advocating for a holistic approach, Pakistan contributes to the broader discourse on sustainable and inclusive global governance. Key Takeaways Prime Minister Shehbaz Sharif calls for balanced progress across the UN’s peace, development, and human rights pillars. The meeting with Rebeca Grynspan highlighted Pakistan’s role in UN peacekeeping and advocacy for developing nations. Discussions included global challenges like climate change and economic disparities. Pakistan’s stance emphasizes integrated policy-making and multilateralism. The call aligns with global efforts to achieve the Sustainable Development Goals. Source Attribution This article is based on official government statements, press releases, and public communications from relevant authorities. Author: NEN Editorial Desk | Editor: NEN Newsroom | Fact Checked By: NEN Editorial Team Author: NEN Editorial Desk  |  Editor: NEN Newsroom  |  Last Updated: July 10, 2026  |  Source: NEN Reporter This article was produced by the NEN Editorial Desk in accordance with NEN Agency’s Editorial Policy and Fact-Checking Policy.

KARACHI — Workers’ remittances to Pakistan from overseas surged by 8.6% during the fiscal year 2025-26, reaching a total of $41.6 billion, according to the State Bank of Pakistan. This growth reflects the significant contributions of the Pakistani diaspora, with monthly inflows in June 2026 recorded at $3.5 billion. What Happened The State Bank of Pakistan reported that workers’ remittances for the fiscal year 2025-26 amounted to $41.6 billion, marking an 8.6% increase from the $38.3 billion received in the previous fiscal year. The remittances were primarily sourced from key countries including Saudi Arabia, the United Arab Emirates, the United Kingdom, and the United States. Specifically, Saudi Arabia contributed $9,783.1 million, the UAE $8,806.9 million, the UK $6,325.7 million, and the USA $3,623.8 million. European Union countries also played a significant role, contributing $5,226.6 million in total. Italy led the EU contributions with $1,547.3 million, followed by Spain with $905.6 million, Germany with $806.6 million, and France with $591.6 million. Other notable contributions came from Greece, Ireland, and Belgium. Beyond Europe, substantial remittances came from countries such as Australia ($1,142.1 million), Canada ($798.4 million), South Africa ($290.7 million), Malaysia ($167.6 million), Norway ($150 million), South Korea ($108.8 million), and Japan ($67.6 million). In June 2026 alone, remittances were recorded at $3.475 billion, a decrease of 18.3% from May 2026’s $4.25 billion. However, compared to June 2025, there was a 2% increase from $3.41 billion. The major contributors for June 2026 were Saudi Arabia ($829.6 million), the UAE ($792.2 million), the UK ($514.9 million), and the USA ($296.8 million). Background Remittances have historically been a critical component of Pakistan’s economy, providing a vital source of foreign exchange. The Pakistani diaspora, spread across the globe, has consistently supported the nation’s economy through these financial inflows. The State Bank of Pakistan regularly monitors and reports on these remittances, which are crucial for maintaining the country’s balance of payments and supporting its foreign exchange reserves. In recent years, remittances have shown resilience despite global economic challenges, including the COVID-19 pandemic. The government’s efforts to facilitate and streamline remittance processes have also contributed to the steady inflow of funds. Why It Matters The increase in workers’ remittances is significant for Pakistan’s economy, as these inflows help stabilize the country’s foreign exchange reserves, which are essential for international trade and debt servicing. A healthy reserve position can enhance investor confidence and potentially lead to improved credit ratings for the country. Economically, remittances provide a lifeline for many families in Pakistan, contributing to household incomes and supporting consumption. This, in turn, stimulates economic activity and can lead to improved living standards for recipients. Politically, the government’s ability to maintain and potentially increase remittance inflows is crucial for its economic strategy, especially in light of ongoing challenges such as inflation and fiscal deficits. The steady growth in remittances reflects the trust and confidence of overseas Pakistanis in the country’s economic management. On an international level, the increase in remittances underscores the strong ties between Pakistan and its diaspora, highlighting the global interconnectedness of the Pakistani community. Key Takeaways Workers’ remittances to Pakistan grew by 8.6% in FY26, reaching $41.6 billion. Major sources included Saudi Arabia, UAE, UK, and USA, with significant contributions from the EU. June 2026 remittances were $3.475 billion, a slight increase compared to June 2025. Remittances are crucial for Pakistan’s foreign exchange reserves and economic stability. The growth in remittances reflects strong ties between Pakistan and its global diaspora. Source Attribution This article is based on official government statements, press releases, and public communications from relevant authorities. Author: NEN Editorial Desk | Editor: NEN Newsroom | Fact Checked By: NEN Editorial Team Author: NEN Editorial Desk  |  Editor: NEN Newsroom  |  Last Updated: July 10, 2026  |  Source: NEN Reporter This article was produced by the NEN Editorial Desk in accordance with NEN Agency’s Editorial Policy and Fact-Checking Policy.

UNITED NATIONS — Pakistan has called for an immediate and complete cessation of hostilities between Ukraine and Russia, urging both nations to resume meaningful dialogue aimed at achieving a comprehensive, durable, and peaceful resolution to the ongoing conflict. The appeal was made during a session at the United Nations on Thursday, highlighting the urgent need for diplomatic engagement to address the humanitarian crisis exacerbated by the conflict. What Happened During a United Nations meeting on July 10, Pakistan’s representative emphasized the critical need for an immediate halt to the escalating violence between Ukraine and Russia. The call was made in response to the worsening humanitarian situation, which has seen a significant increase in civilian casualties and displacement. “The sharp uptick in fighting and expansion of the battlefield is not only compounding the humanitarian plight in the region but also poses a threat to international peace and security,” stated the Pakistani envoy. The conflict, which has persisted for over four years, has seen renewed intensity in recent months, with both sides engaging in aggressive military operations. Pakistan’s appeal was part of a broader international effort to de-escalate tensions and promote peace talks. The representative stressed that dialogue remains the most viable path to a lasting solution, urging both parties to prioritize diplomatic channels over military confrontation. Background The conflict between Ukraine and Russia began in 2014 following Russia’s annexation of Crimea, leading to a protracted and complex geopolitical struggle. The situation has been marked by intermittent ceasefires and failed peace negotiations, with the Minsk agreements of 2014 and 2015 being the most notable attempts at resolution. Despite these efforts, hostilities have continued, resulting in thousands of deaths and widespread displacement. International bodies, including the United Nations and the Organization for Security and Co-operation in Europe (OSCE), have been actively involved in monitoring the situation and facilitating dialogue. However, the conflict remains unresolved, with both sides accusing each other of violating ceasefire agreements and engaging in aggressive military actions. Why It Matters The ongoing conflict between Ukraine and Russia has significant implications for regional stability and international relations. The humanitarian impact is severe, with millions of people affected by the violence, facing displacement, food insecurity, and limited access to essential services. The conflict has also strained relations between Russia and Western nations, leading to economic sanctions and increased military presence in Eastern Europe. Pakistan’s call for a ceasefire and dialogue underscores the global concern over the potential for further escalation, which could have dire consequences for international peace and security. The appeal aligns with Pakistan’s longstanding policy of advocating for peaceful resolution of conflicts through dialogue and diplomacy. By urging both parties to engage in negotiations, Pakistan is contributing to the international effort to prevent further humanitarian suffering and promote stability in the region. The resolution of the Ukraine-Russia conflict is crucial not only for the affected populations but also for maintaining global stability. A peaceful settlement would alleviate the humanitarian crisis, reduce regional tensions, and pave the way for economic recovery and development. Moreover, it would serve as a precedent for resolving other protracted conflicts through diplomatic means. Key Takeaways Pakistan has called for an immediate ceasefire and resumption of dialogue between Ukraine and Russia. The conflict has been ongoing for over four years, with significant humanitarian consequences. International efforts, including the Minsk agreements, have so far failed to resolve the conflict. The situation poses a threat to regional stability and international peace and security. Pakistan’s appeal aligns with its policy of promoting peaceful resolution of conflicts through diplomacy. Source Attribution This article is based on official government statements, press releases, and public communications from relevant authorities. Author: NEN Editorial Desk | Editor: NEN Newsroom | Fact Checked By: NEN Editorial Team Author: NEN Editorial Desk  |  Editor: NEN Newsroom  |  Last Updated: July 10, 2026  |  Source: NEN Reporter This article was produced by the NEN Editorial Desk in accordance with NEN Agency’s Editorial Policy and Fact-Checking Policy.