Business

ISLAMABAD — The Cabinet Committee on State-Owned Enterprises (CCoSOEs) has approved essential board appointments and reviewed important governance issues concerning state-owned entities. Meeting Overview Senator Muhammad Aurangzeb, the Federal Minister for Finance and Revenue, led the session at the Finance Division. The primary objective was to enhance control and management strategies for these enterprises. Key Participants and Discussions The meeting featured Federal Minister for Commerce Jam Kamal and other prominent officials. They discussed various policy measures aimed at refining the governance framework of state-owned enterprises. Core discussions focused on: Improving governance structures Strengthening financial management Enhancing accountability mechanisms Impact on the Corporate Sector The strategic decisions from the meeting are part of ongoing efforts to boost efficiency and accountability within the corporate sector. These newly sanctioned appointments are set to enhance both management and operational capabilities, contributing to economic growth.

ISLAMABAD — Karachi Port Trust (KPT) has set a new record in container throughput by processing over 2.651 million twenty-foot equivalent units (TEUs) during the fiscal year 2025-26. This achievement was announced by the Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry. Record-Breaking Achievement The port reached this milestone just weeks before the fiscal year’s end, representing a significant success for KPT. This achievement demonstrates notable improvements in capacity and efficiency in handling container traffic. Impact on Pakistan’s Trade The minister underscored the importance of this accomplishment for Pakistan’s maritime sector. He emphasized its crucial role in boosting trade activities and driving economic growth within the region.

ISLAMABAD — The Federal Board of Revenue (FBR) has announced that its field offices will remain operational on June 27 and 28, 2026, a Saturday and Sunday. Extended Working Hours for Tax Collection To ensure efficient tax collection, the FBR has planned extended working hours. A notification issued on Friday highlights that these measures aim to meet crucial financial targets. Efforts in Streamlined Revenue Collection The FBR continues efforts to enhance revenue collection efficiency. They consistently implement strategies that improve both effectiveness and efficiency. Special Measures for End of Fiscal Year Aligning Financial Operations with Economic Goals During critical periods like the end of the fiscal year, the FBR emphasizes special operational measures. This approach ensures financial operations align with national economic goals.

KARACHI — The Exchange Rates Committee of the Financial Markets Association of Pakistan has released a bulletin featuring the latest foreign exchange rates. This information is crucial for those in financial markets and investment sectors. Current Exchange Rates Overview As of June 19, 2026, the committee’s report includes conversion rates for several major currencies. The settlement date, provided by the State Bank of Pakistan, is June 23, 2026. Major Currency Conversion Rates The US dollar (USD) is valued at 278.2231. The British pound (GBP) stands at 369.2020. The euro (EUR) is listed at 319.8730. The Japanese yen (JPY) is at 1.7314. These conversion rates are essential for businesses and investors seeking to enhance their financial strategies effectively.

KARACHI — The National Bank of Pakistan (NBP) Treasury Management Division has released the latest foreign exchange rates. These updates are vital for businesses and investors keeping a close watch on market trends. Major Currency Rates NBP has shared the current figures for key currencies: US Dollar: TT selling rate is 278.65, and the buying rate is 278.15. Euro: TT selling rate is 318.83, with a buying rate of 318.25. British Pound: Selling rate stands at 367.42, while buying is at 366.76. Other Significant Currencies Additional important currency rates provided include: Japanese Yen: Selling at 1.7269, buying at 1.7238. Swiss Franc: Selling rate is 345.27, buying rate is 344.65. Canadian Dollar: Selling at 196.91, with a buying rate of 196.55. Additional Currency Information Other Foreign Currency Rates Rates for further foreign currencies are as follows: Australian Dollar: Selling at 194.91, buying at 194.56. Singapore Dollar: Selling at 215.62, with a buying rate of 215.24. Chinese Yuan: Selling at 41.01, and buying at 40.94. U.A.E. Dirham: Selling rate is 75.88, buying rate is 75.74. Saudi Riyal is included in the rate listing.

KARACHI — The Exchange Rates Committee of the Financial Markets Association of Pakistan has announced the foreign exchange rates effective from June 18, 2026. These rates are applicable for forward cover on deposits, excluding FE-25 deposits, settling on June 23, 2026. Key Currency Exchange Rates US Dollar (USD): 278.2464 British Pound (GBP): 373.2953 Euro (EUR): 322.9049 Japanese Yen (JPY): 1.7370 Impact on Financial Markets These currency exchange rates have a significant impact on financial markets. They are vital in shaping trade and investment strategies within Pakistan’s economy. The rates influence decisions regarding imports, exports, and overall economic growth strategies.

FAISALABAD — The National Textile University Faisalabad (NTUF) collaborated with the State Bank of Pakistan (SBP) to host an insightful seminar on the dual banking system. This event aimed to bridge the gap between conventional and Islamic banking for budding finance leaders. Objectives and Audience Held at the Faisalabad Business School, the seminar targeted students in the BS Accounting & Finance and Bachelor of Business Administration (BBA) programs. It served as an educational platform for participants to grasp the complexities of both banking systems. Insights into Banking Systems Participants engaged in discussions that provided a comprehensive overview of the operational dynamics and regulatory frameworks distinguishing conventional banking from Islamic banking. This exploration aimed to deepen their understanding of the financial sector. Collaboration with Industry Experts Partnering with the SBP offered students a unique opportunity to interact with industry experts. Participants explored potential finance career paths and gained valuable insights into the financial industry’s opportunities.

In the second week of June, Pakistan’s total liquid foreign reserves climbed to $22.74 billion, according to data from the Associated Press of Pakistan. State Bank of Pakistan’s Role The State Bank of Pakistan has reported a significant increase in its foreign reserves, which now stand at $17.22 billion. This development signals a positive shift in Pakistan’s foreign exchange status. Strategies for Economic Stabilization Pakistan’s economy is seeing this growth as the country continues efforts to stabilize and enhance its foreign currency reserves. Government strategies are concentrated on strengthening economic infrastructure.

ISLAMABAD — Federal Minister for Planning, Development and Special Initiatives, Professor Ahsan Iqbal, has emphasized the need for enhanced market monitoring and improved supply chain mechanisms. This call to action was made during a National Price Monitoring Committee (NPMC) meeting on Thursday, where the minister assessed the current pricing of essential commodities. Addressing Price Stabilization In the meeting, Minister Ahsan Iqbal highlighted the critical role of price stabilization in safeguarding consumer interests, especially during fluctuating market conditions. Senior officials have been tasked with developing effective strategies for closely monitoring market dynamics. Ensuring Consistent Supply Chains Discussions during the session centered on maintaining a steady supply of essential goods to avert sudden price increases. A reliable supply chain is fundamental to maintaining economic stability and consumer confidence. Enhancing Transparency and Accountability The NPMC is exploring several initiatives aimed at boosting transparency and accountability within the supply chain. These measures are intended to directly address consumer concerns, making the market more predictable and trustworthy.

ISLAMABAD — Federal Minister for Board of Investment, Qaiser Ahmed Sheikh, recently met with Reza Amiri Moghadam, the Iranian Ambassador to Pakistan, to discuss improving bilateral investment opportunities and strengthening economic ties between the two countries. Exploring Collaboration Opportunities The officials identified several potential areas for collaboration. They emphasized the importance of increasing mutual investments to enhance both nations’ economic landscapes. Sheikh highlighted Pakistan’s favorable investment environment and reiterated the government’s commitment to facilitating Iranian investors. Strengthening Economic Cooperation Ambassador Moghadam expressed optimism about expanding economic cooperation. He welcomed initiatives aimed at fostering greater connectivity between the business sectors of Pakistan and Iran. Strategic Importance of Bilateral Relations The meeting underscored the strategic importance of enhancing bilateral relations amidst evolving regional dynamics. Both parties recognized the potential for economic growth through strengthened partnerships.