Business

ISLAMABAD — Pakistan’s food exports reached $4.598 billion in the first 11 months of the fiscal year, according to official data. Export Decline This represents a significant 31.86% decline compared to the $6.748 billion recorded in the same period last year. Economic Challenges The sharp drop in food exports reflects various economic challenges facing the sector. Contributing Factors Key Issues Analysts point to several factors contributing to the decline: Shifts in global demand Logistic constraints Domestic production issues These factors have collectively affected the export figures significantly.

ISLAMABAD — Pakistan’s technology exports have reached a record $4.2 billion in the first 11 months of the fiscal year 2025-26. This notable achievement represents a significant 20% increase from the previous year, based on insights from Khurram Schehzad, Advisor to the Finance Minister. Factors Driving Growth On Wednesday, Schehzad highlighted key factors contributing to the information technology sector’s growth. These include: Enhanced infrastructure Strong governmental policy support These elements together have established a robust foundation for the sector’s remarkable performance. Economic Impact The burgeoning technology sector underscores its vital role in Pakistan’s economy. This success reflects the country’s growing stature in the international market and the rising global demand for Pakistani technological services. Future Developments As Pakistan’s presence in the international market strengthens, the government remains dedicated to encouraging further growth in the tech sector. It aims to foster conditions that continue to support expansion and economic prosperity.

Gold prices have risen for the fifth consecutive session as of Wednesday. Spot gold increased by 0.3 percent, reaching $4,341.12 per ounce at 0230 GMT. This surge brings the precious metal close to a one-week high previously achieved on Monday. Gold Futures Upward Trend in the US In the United States, gold futures for August delivery also demonstrated an upward trend. These futures rose by 0.2 percent, reaching $4,361.10 per ounce. The persistent rise indicates a positive outlook for gold investments in the coming months. Gains in Other Precious Metals Alongside gold, other precious metals recorded gains. Spot silver increased by 0.3 percent, reaching $70.38 per ounce. Platinum saw a 0.5 percent rise, with prices moving to $1,812.80 per ounce. Additionally, palladium rose by 0.3 percent, reaching $1,355.65 per ounce.

ISLAMABAD — The Rawalpindi Chamber of Commerce and Industry (RCCI) conducted a post-budget session on Wednesday to review the Federal Budget 2026. The event attracted business leaders, members, and stakeholders for a comprehensive analysis of proposed fiscal measures. Analyzing Budget Implications The session served as a platform to discuss the implications of the new budget across various sectors. The business community provided valuable feedback concerning potential impacts. Effects on Trade and Commerce Participants examined how the budget may affect trade, commerce, and industry. They shared insights and expressed concerns over budgetary allocations and policies, highlighting critical areas requiring attention. Strengthening Government-Business Dialogue RCCI sessions like this one foster dialogue between the government and business entities. These discussions reflect the private sector’s perspective on national financial planning. The feedback is intended to help policymakers make informed adjustments to economic strategies, ensuring alignment with the business community’s needs.

The National Bank of Pakistan (NBP) has released its latest currency exchange rates, which impact buying and selling transactions for major currencies. Major Currency Rates The updated rates from NBP show the US dollar with a selling price of 280.09 and a buying rate of 277.09. The British pound has a selling rate of 376.13, with a buying rate of 371.68. Euro and Japanese Yen The euro is priced at a selling rate of 325.22, while the buying rate is 321.40. The Japanese yen shows a selling price of 1.7473, and its buying rate is 1.7267. Regional Currency Rates The UAE dirham has a selling price of 74.64 and a buying rate of 73.76. The Saudi riyal’s selling rate is 76.26, with a buying rate of 75.36. These updated exchange rates offer crucial insights for investors and businesses engaged in international trade.

ISLAMABAD — Federal Minister for Information Technology and Telecommunication, Shaza Fatima Khawaja, has unveiled an ambitious plan to expand fiber-to-home coverage. This initiative targets reaching 10 million households in the coming years, aiming to provide reliable internet access throughout Pakistan. Government’s Digital Strategy The government is focused on expanding access to high-speed internet, positively impacting sectors such as education, business, and daily activities. This initiative is part of a broader strategy to enhance the country’s digital infrastructure. Commitment to Digital Inclusion Minister Khawaja highlighted the government’s dedication to reducing the digital divide and ensuring equitable internet access for everyone. This development is expected to boost economic growth and promote digital inclusion across the nation.

ISLAMABAD — The Pakistan Stock Exchange (PSX) sustained its bullish trend on Wednesday. The benchmark KSE-100 Index rose by 118.05 points, or 0.07 percent, closing at 180,511.02 points, up from the previous day’s 180,392.98 points. Investor Confidence and Market Sentiment This upward movement underscores growing investor confidence and sustained market interest. Analysts link the gain to a mix of positive market sentiment and various factors prompting buying activity. Sectors with Increased Activity Numerous sectors experienced heightened activity during the trading session, reflecting investor optimism. Market analysts are monitoring developments that could affect future trading dynamics.

ISLAMABAD — The State Bank of Pakistan (SBP) has announced that Pakistan’s current account has reached a surplus of $255 million in the first 11 months of fiscal year 2025-26. This represents a significant decrease from the $1,618 million surplus during the same period in the previous fiscal year. Understanding the Current Account The current account is a crucial indicator of Pakistan’s financial health. It reflects the balance between income earned from international activities and payments made to other countries. A surplus signifies that Pakistan is earning more from overseas than it spends. This fiscal year’s reduced surplus suggests a more balanced state between earnings and expenditures. Economic Factors and Stability The State Bank of Pakistan closely monitors various factors affecting the current account, highlighting their impact on the nation’s financial stability. Reasons for Surplus Reduction A combination of external and domestic influences on trade and financial flows has led to the decreased surplus, according to officials.

Hussain Muhammad, the Consul General of Pakistan in Dubai, led a delegation at the International Day of Family Remittances ceremony. Organized in collaboration with the National Bank of Pakistan (NBP) UAE, the event underscored the critical role of remittances in supporting families and boosting the economy. Consulate Delegation and Attendees The Consul General was accompanied by several key officials from the consulate: Rashid-ul-Islam Asad Malik Muhammad Shabbir Merchant Saleem Akhtar Khalid Hussain Chaudhry Majid Rafiq Mohammad Shoaib The event attracted numerous distinguished guests, highlighting its importance in the region. Economic Impact of Family Remittances Family remittances are vital for economic development, providing direct financial support to households. The ceremony celebrated these significant contributions and acknowledged the collaborative efforts of institutions like NBP UAE in enhancing remittance processes.

KARACHI — The Exchange Rates Committee of the Financial Markets Association of Pakistan has issued a new foreign exchange rates bulletin. This document is vital for understanding key currency conversions used in various financial transactions. June 2026 Forex Update Released on June 17, 2026, this bulletin provides conversion rates applicable to forward cover transactions and deposits, excluding FE-25 deposits. This information is essential for those involved in financial planning. Settlement Date and Financial Implications The State Bank of Pakistan has designated June 22, 2026, as the settlement value date for these transactions. Comprehending these rates is critical for aligning investment strategies with the current market conditions. Key Currency Conversion Rates Here are the major currency conversion rates: US Dollar: 278.2560 British Pound: 373.1969 Euro: 322.6657 Japanese Yen: 1.7363 These rates offer a glimpse into the existing currency market, affecting trade and financial decision-making within Pakistan.