Author name: Yasir Zubairi

ISLAMABAD — During the first eleven months of the fiscal year 2025-26, Pakistan’s exports totaled Rs 7,827,925 million, according to the Pakistan Bureau of Statistics (PBS). This figure reflects a 5.08% decrease compared to Rs 8,246,790 million recorded in the same period last year. Monthly Export Performance In May 2026, the year-on-year export growth was marginal at 0.39%, with exports reaching Rs 749,452 million. This marks a slight increase from the Rs 752,392 million recorded in May 2025. However, on a month-to-month basis, exports climbed significantly by 8.83%, from Rs 688,656 million in April 2026. Key Export Commodities In May 2026, primary export commodities included: Knitwear: Rs 124,251 million Readymade garments: Rs 115,407 million Bed wear: Rs 79,514 million Additionally, exports of cotton cloth reached Rs 40,641 million, rice products totaled Rs 31,511 million, and petroleum products amounted to Rs 14,955 million. Import Trends Between July and May, imports increased by 7.04%, reaching Rs 17,668,819 million, compared to Rs 16,506,992 million the previous year. In May 2026, imports were recorded at Rs 1,536,547 million, marking an 18.30% decrease from April 2026 and a 3.66% decline from May 2025. Significant import items included petroleum crude, valued at Rs 195,538 million, and petroleum products, totaling Rs 141,630 million.

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.

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.

ISLAMABAD — The Asian Development Bank (ADB) has approved a $700 million policy-based loan to support reforms in Pakistan’s insurance sector. This initiative focuses on enhancing financial resilience and expanding market coverage. Insurance Transformation Program The Insurance Transformation Program aims to close protection gaps and increase private sector participation. This strategy is expected to promote sustainable economic growth by providing financial security to households, businesses, and farmers. The loan particularly emphasizes protection against extreme weather events, disasters, and life-cycle risks, ensuring comprehensive coverage. Modernizing Pakistan’s Insurance Framework Emma Fan, ADB Country Director for Pakistan, highlighted that the program will modernize the insurance framework. Transitioning towards a risk-based, market-oriented system aims to mobilize capital for development and improve financial protection. These efforts are crucial in building a more competitive and resilient insurance market, preparing it for future challenges. Current Financial System With banking dominating Pakistan’s financial system, the insurance sector accounts for only 0.7% of GDP. The loan seeks to develop inclusive and shock-responsive insurance models, particularly benefiting farmers, women, and vulnerable households. Innovative Insurance Solutions This initiative emphasizes digital distribution and satellite-based risk assessment, alongside tailored insurance products. It also focuses on improving claims processing and enhancing access to services. These innovations are set to significantly strengthen the insurance sector, making it more robust and accessible.

The Sindh government has set a substantial revenue target of over Rs 775 billion for the fiscal year 2026-27. This plan focuses on increasing both provincial taxes and non-tax revenue to strengthen financial resources. Provincial Tax Revenue Sindh plans to raise approximately Rs 690 billion from various provincial taxes. To achieve this goal, new tax collection mechanisms are being enhanced. Strategies for Tax Collection Implementing advanced tax collection systems Strengthening compliance measures Expanding the tax base Non-Tax Revenue Sources An additional Rs 85 billion is expected from non-tax revenues, crucial for boosting Sindh’s financial resources in the upcoming fiscal year. Sources of Non-Tax Revenue Public sector enterprise dividends Fees and services Resource-based income Economic Growth and Development Meeting this revenue target is essential for enhancing Sindh’s economic autonomy. The funds will support numerous development projects aimed at ensuring long-term economic growth. Impact on Sindh’s Economy Increased investment in infrastructure Enhanced public services Job creation and skill development

OTTAWA — A high-level Pakistani delegation led by Additional Secretary of the Board of Investment, Zulfiqar Ali, has arrived in Ottawa. The team is set to discuss the proposed Foreign Investment Protection and Promotion Agreement (FIPPA) with Canadian officials. Objective of the Bilateral Investment Treaty The Bilateral Investment Treaty (BIT) seeks to enhance economic cooperation between Pakistan and Canada. This agreement aims to strengthen bilateral ties and boost investment opportunities in both countries. Delegation Composition and Importance The Pakistani delegation consists of senior officials from various sectors. Their presence highlights the importance both nations place on strengthening economic connections. The inclusion of diverse sectors demonstrates the comprehensive approach to these negotiations. Key Discussion Points During the talks, the parties are expected to address mutual interests and concerns. The framework aims to promote investment flows between Pakistan and Canada. Key discussion areas include: Investment agreements and frameworks Legal protections for investors Economic growth opportunities Anticipated Outcomes The negotiations mark a significant step in fortifying bilateral relations. The proposed treaty is expected to offer legal protection for investors from both countries. It should encourage greater economic engagement and foster a robust economic partnership.