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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.

KARACHI — The National Bank of Pakistan (NBP) has released its latest currency exchange rates, offering insights into the buying and selling values of various currencies in the financial market. Major Currency Rates As of Thursday, the US dollar is sold at 280.04 and bought at 277.04. The British pound selling rate stands at 372.86 with a buying rate of 368.46. The euro is available for selling at 322.65 and buying at 318.85. Regional Currency Rates Japanese Yen and UAE Dirham The Japanese yen can be sold at 1.7440 and bought at 1.7234. The United Arab Emirates dirham rates are 74.62 for selling and 73.74 for buying. Saudi Riyal The exchange rate for the Saudi riyal is 76.25 for selling and 75.35 for buying.

ISLAMABAD — The Asian Development Bank (ADB) has approved a $700 million policy-based loan to drive crucial reforms in Pakistan’s insurance sector. Goals of the Loan The main objective of this initiative is to expand insurance coverage across Pakistan, effectively addressing existing protection gaps within the sector. Boosting Private Sector Investments According to an ADB press release, the loan is designed to foster private sector investments in the insurance industry. This step aims to promote sustainable economic growth within Pakistan. Strengthening Economic Growth and Stability This financial support is vital for enhancing the financial sector in Pakistan. It promotes both economic stability and financial inclusion for citizens.

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 Senate’s budget session began on Thursday at 12:48 p.m. Chaired by Syed Yousaf Raza Gilani, this session signifies the start of the legislative body’s examination of fiscal issues for the upcoming year. Key Agenda Items The agenda included presentations from various standing committees. These reports are vital in the discussion and assessment of proposed fiscal policies and plans. Emphasis on Finance Bill 2026 The Finance Bill for 2026 was a primary topic of discussion. These deliberations are crucial for shaping Pakistan’s financial landscape in the next fiscal year. They play a significant role in influencing economic growth and stability.

ISLAMABAD — Farah Naz Akbar, Parliamentary Secretary for the National Heritage and Culture Division, announced on Thursday that the Federal Budget for 2026-27 targets significant economic growth and public relief. Major Economic Initiatives During the National Assembly budget debate, Akbar outlined key measures aimed at providing relief to salaried individuals. She emphasized that these initiatives are crucial for maintaining financial stability. Comprehensive Strategy for Public Welfare Akbar highlighted the budget’s role within a comprehensive strategy designed to tackle economic challenges. The plan aims to promote public welfare while simultaneously fostering economic growth. Her statements demonstrate the administration’s commitment to aligning growth objectives with public relief initiatives, ensuring a balanced approach to national progress.

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.

KARACHI — Sindh Chief Minister Syed Murad Ali Shah has presented the 2026–27 provincial budget to the Sindh Assembly. The budget focuses on addressing the province’s diverse socio-economic needs. Key Investments in Sectors The budget earmarks significant investments in crucial sectors such as: Infrastructure Education Healthcare This strategic focus aims to enhance public services across the Sindh province. Emphasis on Sustainable Development Chief Minister Shah highlighted the importance of sustainable development and equitable resource distribution. His approach targets long-term economic growth and regional stability. Economic Review and Debate The legislative session featured in-depth debates and discussions with lawmakers. They scrutinized the budget proposals to ensure the advancement of economic growth and the maintenance of fiscal stability.

A Pakistani delegation is currently in Canada for the second round of negotiations on the Foreign Investment Protection and Promotion Agreement (FIPPA) and Bilateral Investment Treaty (BIT). These discussions aim to enhance economic cooperation and safeguard mutual investment interests between Pakistan and Canada. Strengthening the Legal Framework Negotiations focus on reinforcing a legal framework designed to protect investors and boost confidence in cross-border investments. This collaborative effort aims to foster an environment conducive to economic growth and new business opportunities. Commitment to Economic Growth The delegation, comprising senior officials, highlights Pakistan’s commitment to building strong trade and investment relations with Canada. Efforts focus on creating robust connections that can drive economic growth for both nations. Foundation for Future Agreements These discussions aim to lay the groundwork for future agreements that will facilitate bilateral economic growth. Both countries anticipate opportunities to enhance trade and investment dynamics through such agreements.

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