Business

ISLAMABAD — On Friday, gold prices in Pakistan experienced a significant reduction. The price of 24 karat gold fell by Rs14,900 per tola, setting a new rate at Rs438,036, as reported by the All Pakistan Sarafa Gems and Jewellers Association. Market Influences The decline in gold prices is attributed to fluctuations in both local and international markets. These changes are affecting the buying decisions of both consumers and investors. Impact on Investments According to market analysts, the adjustment in gold prices could significantly alter gold sales and investment patterns across the country. This shift is being watched closely by financial experts as it reflects broader economic trends.

ISLAMABAD — The Pakistan Bureau of Statistics (PBS) reported a 0.46 percent rise in weekly inflation for the period ending June 18, 2026. This increase is based on the Sensitive Price Indicator (SPI) for the combined consumption group. SPI Points Increase The SPI moved upwards from 356.11 points to 357.76 points during the reviewed week. This indicator plays a crucial role in assessing the financial pressures on households, particularly when purchasing essential goods. Economic Challenges for Consumers According to PBS data, consumers continue to navigate challenges posed by fluctuating economic conditions in Pakistan. This rise in inflation emphasizes the financial strain households face in the current market.

ISLAMABAD — The Cabinet Committee on State-Owned Enterprises (CCoSOEs) has endorsed crucial board appointments while reviewing significant governance matters related to state-owned entities. Meeting Overview The session was led by Senator Muhammad Aurangzeb, the Federal Minister for Finance and Revenue, at the Finance Division. The primary focus was to enhance control and management strategies for these enterprises. Key Participants and Discussions The meeting included Federal Minister for Commerce Jam Kamal along with other key officials. They discussed several policy measures aiming to refine the governance framework of state-owned enterprises. Discussions focused on: Improving governance structures Strengthening financial management Enhancing accountability mechanisms Impact on the Corporate Sector The strategic decisions made during this meeting are part of ongoing efforts to improve efficiency and accountability within the corporate sector. These newly sanctioned appointments are expected to bolster both management and operational capabilities, ultimately contributing to economic growth.

ISLAMABAD — Karachi Port Trust (KPT) has achieved a new record in container throughput, processing over 2.651 million twenty-foot equivalent units (TEUs) during the fiscal year 2025-26. This announcement was made by the Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry. Record-Breaking Achievement The milestone was reached just weeks before the end of the fiscal year, marking a significant achievement for KPT. It highlights notable improvements in both capacity and efficiency in handling container traffic. Impact on Trade and Economy The minister highlighted the importance of this record for Pakistan’s maritime sector. He emphasized its crucial role in boosting trade 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. These dates are a Saturday and Sunday. Extended Working Hours for Tax Collection The decision aims to facilitate duties and ensure efficient tax collections. A notification from the FBR was issued on Friday, stating that the extended working hours are planned to help meet crucial fiscal targets. Efforts in Streamlined Revenue Collection The FBR continues its efforts to streamline revenue collection processes. They are consistently implementing measures that enhance both efficiency and effectiveness. Special Measures for End of Fiscal Year Special operational measures are emphasized during critical periods, such as the end of the fiscal year. This approach ensures all financial operations align with the national economic goals.

SIALKOT — Government College Women University Sialkot (GCWUS) has announced the opportunity for the prestigious Harvard Radcliffe Fellowship 2027. According to a press release, this fully funded program is open to exceptional researchers, scholars, writers, scientists, and professionals worldwide. Fellowship Benefits The Harvard Radcliffe Fellowship offers numerous benefits to participants, including: Financial support and stipends Assistance with housing and relocation expenses Access to global networking opportunities This initiative aims to enhance academic excellence and promote international research and professional collaboration. How to Apply GCWUS emphasized that application deadlines for the fellowship may vary depending on program categories. Eligible students are encouraged to apply and take advantage of this exceptional opportunity.

KARACHI — The Exchange Rates Committee of the Financial Markets Association of Pakistan has issued a bulletin with the latest foreign exchange rates. This data is essential for participants in financial markets and investment sectors. Current Exchange Rates As of June 19, 2026, the committee’s report provides conversion rates for key currencies. The settlement date, set 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 vital for businesses and investors aiming to optimize their financial strategies effectively.

KARACHI — The National Bank of Pakistan (NBP) Treasury Management Division has released the latest foreign exchange rates. These updates are crucial for businesses and investors monitoring market trends. Key Currency Rates NBP provides the latest figures for major currencies: The US dollar’s telegraphic transfer (TT) selling rate is 278.65, with a buying rate of 278.15. The euro’s TT selling rate is 318.83, while the buying rate is 318.25. The British pound has a selling rate of 367.42 and a buying rate of 366.76. Significant Currency Rates Additional notable currencies include: Japanese yen: selling at 1.7269, buying at 1.7238. Swiss franc: selling at 345.27, buying at 344.65. Canadian dollar: selling at 196.91, buying at 196.55. Additional Currency Information Other Foreign Currency Rates Details for further currencies are as follows: Australian dollar: selling at 194.91, with a buying rate of 194.56. Singapore dollar: selling at 215.62 and buying at 215.24. Chinese yuan: selling at 41.01, buying at 40.94. U.A.E. dirham: selling at 75.88, buying at 75.74. The Saudi riyal’s rate is included in the list.

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 apply for forward cover on deposits, other than FE-25 deposits, with a settlement date of June 23, 2026. Key Currency Exchange Rates The bulletin reveals the following key 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 exchange rates significantly affect financial markets. They play a crucial role in shaping trade and investment strategies within Pakistan’s economy.

FAISALABAD — The National Textile University Faisalabad (NTUF) recently collaborated with the State Bank of Pakistan (SBP) to host an insightful seminar on the dual banking system. The event aimed to bridge the gap between conventional and Islamic banking for aspiring finance leaders. Event 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 provided an educational platform for participants to understand the complexities of both banking systems. Insights into Banking Systems Participants engaged in discussions to receive a comprehensive overview of the operational dynamics and regulatory frameworks separating conventional banking from Islamic banking. This exploration was designed to enhance their understanding of the financial sector. Collaboration with Industry Experts Partnering with the SBP offered students a unique chance to interact with industry experts. Participants explored potential finance career paths, gaining valuable insights into the financial industry’s opportunities.