Business

KARACHI — Four vessels, namely Hansa Europe, MSC Vida X, Meghna Venus, and Kouros Diamond, docked at Port Qasim on Monday. These ships are conducting cargo operations focused on containers and coal across the Container Terminal, HFP&S Terminal, and Bulk Terminal. Ship Movements at Port Qasim In the past 24 hours, Port Qasim Authority (PQA) managed 12 vessels at its berths. Four ships—Hansa Europe, Lebrethan, Corona, and Ginga Courage—departed on Tuesday morning. Meanwhile, MSC Vida X and Khairpur are set to sail later the same day. Cargo Volume and Trade Insights The port processed a substantial cargo volume of 168,476 tonnes over the last day. This includes: 130,247 tonnes of imported goods 38,229 tonnes of exported goods Containerized cargo operations saw 2,511 containers handled, with 1,249 TEUs for imports and 1,262 TEUs designated for exports. Anticipated Dockings and Shipments Presently, 12 ships remain at outer anchorage. TPT Heart and Gas Aurora, carrying palm oil and LPG, are expected to dock at the LCT and EVTL terminals on Tuesday. The container vessel Spirit of Bartram is expected on Wednesday, followed by Nileduth Lion on Thursday.

KARACHI — The Exchange Rates Committee of the Financial Markets Association of Pakistan has published the latest foreign exchange rates, effective as of June 16, 2026. These rates are used to guide forward cover for deposits, excluding FE-25 deposits. Exchange Rates Summary The following exchange rates have been set for June 16, 2026: US Dollar (USD): 278.2728 Pakistani rupees British Pound (GBP): 373.6647 rupees Euro (EUR): 322.9356 rupees Japanese Yen (JPY): 1.7377 rupees Effective Settlement Date These rates will be applicable for the State Bank of Pakistan’s settlement process, set to occur on June 18, 2026.

The Pakistani Rupee saw a slight appreciation, increasing by 1 paisa against the US Dollar in interbank trading on Tuesday. The Rupee settled at Rs278.30 compared to Monday’s close of Rs278.31. Foreign Exchange Market Overview The Forex Association of Pakistan reported the open market dollar rates, with the buying rate at Rs279.05 and the selling rate at Rs279.45. These rates reflect the day’s trading activities and foreign exchange market dynamics. Currency Exchange Rates Euro and Other Currencies The exchange rate for the Euro dipped by Rs0.26, closing at Rs322.73 against the Rupee, down from the previous Rs322.99, as reported by the State Bank of Pakistan. The Japanese Yen stayed consistent, closing at Rs1.73. The British Pound experienced a decline of Rs0.40, wrapping up at a rate of Rs373.35 versus the prior Rs373.75. The Emirate Dirham and Saudi Riyal kept steady, closing at Rs75.77 and Rs74.16, respectively.

The Punjab Assembly has begun its session to present the provincial budget for the fiscal year 2026-27. The session is held at the Assembly Hall on Tuesday, with Speaker Malik Muhammad Ahmad Khan presiding. Budget Presentation Provincial Finance Minister Mian Mujtaba Shuja-ur-Rehman is scheduled to present the budget. This significant financial session aims to outline the fiscal policies and budget allocations for the forthcoming year. Key Attendees Punjab Chief Minister Maryam Nawaz Sharif is present, accompanying provincial ministers. Numerous Members of the Provincial Assembly (MPAs) also attend to discuss and analyze the proposed budget measures.

LAHORE — The University of Veterinary and Animal Sciences (UVAS) Lahore and FonGrow Private Limited (FGPL) have entered a new Memorandum of Understanding (MoU) to boost livestock production and reproductive biotechnology. Objectives of the Partnership The MoU aims to promote education, advance research, and support capacity building. It is designed to facilitate technology transfer between the two organizations. Details of the Signing Ceremony The agreement was signed by Vice-Chancellor Prof Dr Masood Rabbani and Secretary FGPL Col (retd) Rai Kashif Amin Khan at a ceremony held at UVAS. The event saw the presence of faculty deans, including Prof Dr Habib-ur-Rehman, Prof Dr Kamran Ashraf, and Prof Dr Saima, as well as senior faculty members and FGPL officials. Key Areas of Cooperation The MoU outlines several collaborative initiatives: Joint student internship and training programs Professional short courses Capacity-building initiatives Student and faculty exchange programs Establishment of Standard Operating Procedures (SOPs) for essential activities The SOPs will encompass farm management, semen production units, in vitro fertilization, and knowledge transfer systems aimed at improving livestock practices.

ISLAMABAD — The government has authorised Rs835.64 billion in development funds for the first 11 months of the fiscal year 2025-26. This allocation is part of the Public Sector Development Programme (PSDP). Fiscal Allocation and Progress Between July and May, the authorised funds nearly reached the full federal allocation of Rs837.16 billion. This reflects significant progress in the government’s development initiatives. Strategic Economic Objectives The PSDP is crucial to the government’s strategy to enhance infrastructure and implement various projects. These efforts are aligned with the nation’s strategic economic goals.

KARACHI — The Financial Markets Association of Pakistan’s Exchange Rates Committee has published the latest foreign exchange rates bulletin. June 16, 2026 Exchange Rates The conversion rates for June 16, 2026, are designated for forward cover transactions and do not include FE-25 deposits. These rates play a crucial role for businesses and investors as they plan their financial activities. The State Bank of Pakistan has set the settlement value date for June 18, 2026. Key Currency Exchange Rates Major Currency Conversions US Dollar: 278.2728 PKR British Pound: 373.6647 PKR Euro: 322.9356 PKR Japanese Yen: 1.7377 PKR

KARACHI — The National Bank of Pakistan’s Treasury Management Division has updated its exchange rates as of Tuesday. These rates are crucial for guiding currency transactions across the bank’s branches. Key Exchange Rates The current exchange rate for the US dollar is PKR 287.70 for TT Selling and PKR 278.20 for TT Buying. Meanwhile, the euro is listed at PKR 322.82 for TT Selling and PKR 322.24 for TT Buying. Other Major Currencies Additionally, the following rates apply to other prominent currencies: British Pound: PKR 373.48 for TT Selling, PKR 372.81 for TT Buying Swiss Franc: PKR 350.48 for TT Selling, PKR 349.85 for TT Buying Canadian Dollar: PKR 199.05 for TT Selling, PKR 198.69 for TT Buying Japanese Yen: PKR 1.7394 for TT Selling, PKR 1.7363 for TT Buying Usage and Notice These exchange rates are vital for financial and trade transactions involving foreign currencies at the National Bank of Pakistan. Keep in mind that rates are subject to change and may vary throughout the trading day.

KARACHI — The National Bank of Pakistan (NBP) has released the latest currency exchange rates for major currencies on Tuesday. These rates are applicable for both buying and selling in the financial market. US Dollar Exchange Rate The US dollar exchange rate is crucial for the economy, with a selling rate of 280.09 rupees and a buying rate of 277.09 rupees. British Pound and Euro Rates Exchange rates for the British pound and euro are significant for corporate investments. The British pound is being sold at 375.34 rupees, with a buying rate of 370.92 rupees. Meanwhile, the euro is offered at a selling rate of 324.44 rupees and a buying rate of 320.62 rupees. Asian and Middle Eastern Currencies Japanese Yen The Japanese yen, an important currency for trade, shows a selling rate of 1.7481 rupees and a buying rate of 1.7276 rupees. United Arab Emirates Dirham The UAE dirham is exchanged at a selling rate of 74.64 rupees, while its buying rate is 73.76 rupees. This rate affects trade and investment in the region. Saudi Riyal The Saudi riyal, pivotal in Middle Eastern markets, is sold at 76.27 rupees with a buying rate of 75.37 rupees.

MUZAFFARGARH — A 1.5-year-old girl named Shahzadi is missing after falling into the Adil Canal near Basti Dhol Wala in Usman Koria, Muzaffargarh. Rescue officials reported the incident on Tuesday. Incident Details Eyewitnesses stated that the infant was sitting on the canal bank when she accidentally slipped and was swept away by the strong current. Search and Rescue Operation The Rescue 1122 teams responded swiftly, initiating a search effort to locate the child as rapidly as possible. Search Techniques Employed Officials utilized the line search technique over a three-kilometer stretch of the canal in the initial phase. Despite exhaustive efforts, the child remains missing. The search operation is ongoing, and further investigations are underway.