Business

ISLAMABAD — The State Bank of Pakistan (SBP) reports that Pakistan’s current account has achieved a surplus of $255 million during the first 11 months of the fiscal year 2025-26. This marks a significant decline from the $1,618 million surplus recorded in the same period of the previous fiscal year. Understanding the Current Account The current account serves as a critical indicator of Pakistan’s financial health. It measures the balance between income earned from overseas and payments made to other nations. A surplus is indicative of Pakistan earning more from international activities than it spends. The reduced surplus this fiscal year implies a closer balance between earnings and expenditures. Economic Factors and Stability The State Bank of Pakistan remains vigilant in monitoring the various factors that impact the current account, emphasizing their influence on the country’s financial stability. Reasons for Surplus Reduction Officials cite a range of external and domestic factors affecting trade and financial flows, which have contributed to the reduced surplus.

The Consul General of Pakistan in Dubai, Hussain Muhammad, led a delegation at the International Day of Family Remittances ceremony. Organized with the National Bank of Pakistan (NBP) UAE, the event highlighted remittances’ essential role in supporting both families and the economy. Consulate Delegation and Attendees Hussain Muhammad was accompanied by several key consulate officials, including: Rashid-ul-Islam Asad Malik Muhammad Shabbir Merchant Saleem Akhtar Khalid Hussain Chaudhry Majid Rafiq Mohammad Shoaib The ceremony attracted numerous distinguished guests, underscoring its regional importance. Economic Impact of Family Remittances Family remittances play a crucial role in economic development by providing direct financial support to households. The event celebrated these vital contributions and recognized the collaborative efforts of institutions like NBP UAE in facilitating remittance processes.

KARACHI — The Financial Markets Association of Pakistan’s Exchange Rates Committee has released an updated foreign exchange rates bulletin. This document highlights key currency conversions essential for various financial transactions. June 2026 Forex Update The bulletin provides conversion rates for June 17, 2026. These rates apply to forward cover transactions and deposits but do not include FE-25 deposits. This update is relevant for those engaged in financial planning. Settlement Date and Financial Implications The State Bank of Pakistan has set the settlement value date for these transactions as June 22, 2026. Understanding these rates is crucial for aligning investment strategies with current market conditions. Key Currency Conversion Rates Below are the significant currency conversion rates: US Dollar: 278.2560 British Pound: 373.1969 Euro: 322.6657 Japanese Yen: 1.7363 These rates provide a snapshot of the current currency market, influencing Pakistan’s trade and financial decision-making processes.

KARACHI — The Treasury Management Division of the National Bank of Pakistan (NBP) has announced the latest exchange rates. These rates reflect NBP’s current trading values in foreign currencies. Exchange Rates for Major Currencies The exchange rate for the US Dollar is 278.70 for TT Selling and 278.20 for TT Buying. The Euro is at 323.60 for selling and 323.02 for buying. The British Pound stands at 374.26 for selling and 373.59 for buying. The Japanese Yen is quoted at 1.7386 for selling and 1.7355 for buying. Other Notable Currencies Swiss Franc: 351.89 selling and 351.26 buying Canadian Dollar: 199.09 selling and 198.73 buying Australian Dollar: 196.84 selling and 196.48 buying Chinese Yuan: 41.25 selling and 41.18 buying Saudi Riyal: 74.27 buying and 74.14 selling Guidance for Businesses and Individuals NBP provides these exchange rates to guide businesses and individuals in currency exchanges. They offer vital insights into the financial market dynamics and support investment decisions.

KARACHI — The National Bank of Pakistan (NBP) has announced the updated buying and selling rates for major foreign currencies. This provides essential guidance for currency exchange in financial markets. Major Currency Rates The US dollar is currently sold at 280.09 and bought at 277.09. The latest rates for other significant currencies are: British Pound: Selling at 376.13, Buying at 371.68 Euro: Selling at 325.22, Buying at 321.40 Japanese Yen: Selling at 1.7473, Buying at 1.7267 Gulf Currencies The NBP has also released current rates for key Gulf currencies. These are as follows: United Arab Emirates Dirham: Selling at 74.64, Buying at 73.76 Saudi Riyal: Selling at 76.26, Buying at 75.36

ISLAMABAD — A new Rs50 million trout farming project has been launched in District Ghizer, Gilgit-Baltistan. This venture aims to enhance food security and drive economic growth in the region. Focus on Food and Nutrition Security The Government of Gilgit-Baltistan is prioritizing food and nutrition security through initiatives in fisheries, modern agriculture, and childhood development. The trout farming project, officially named ‘Ensuring Food Security and Economic Growth through Extension of Trout Farming in District Ghizer’, plays a crucial role in this strategy. Funding and Broader Strategy This year, Rs22.8 million has been allocated to the trout farming project. It is part of a larger strategy to enhance the region’s food and nutrition security. This includes the Rs80 million ‘Targeting Blue Revolution’ program, which aims at conserving local species. Additional Initiatives in the Region Several other programs complement these efforts: Improving Rural Livelihood: A Rs30 million initiative focusing on modern agricultural techniques. Food Fortification Programme: With a budget of Rs99 million, this aims to enhance nutritional intake. School Meal Programme: A Rs112.7 million project supporting female primary schools. These development projects adapt to Gilgit-Baltistan’s unique ecological and geographic needs, aiming to bolster fisheries, agriculture, and childhood nutrition policies. The trout farming project remains a key component of the government’s developmental agenda.

ISLAMABAD — Minister of State for Finance and Railways Bilal Azhar Kiyani announced the federal budget for the fiscal year 2026-27 this Wednesday. The budget is crafted to provide relief and support public welfare, positively impacting various sectors and demographics. Main Targets of the Budget The budget specifically aims to support: Working-class individuals Industry and exporters The construction sector Women and youth Low-income segments In addition to these targets, the plan seeks to broaden the tax base for sustainable economic growth. Driving Economic Growth and Expanding Taxes Kiyani emphasized the government’s commitment to introducing measures that facilitate industrial growth and uplift various sectors. By broadening the tax base, the government intends to enhance revenue generation without burdening existing taxpayers further. This approach aims to cultivate a more inclusive economic environment. Promoting Economic Resilience The budget presentation outlines a strategic plan to enhance economic resilience. It focuses on crucial sectors, such as construction and exports, which are vital for national development. Supporting diverse groups underscores the government’s dedication to equitable growth and social welfare.

ISLAMABAD — The Federal Public Procurement Regulatory Authority (FPPRA) has partnered with the World Bank to develop the Draft National Procurement Strategy (NPS) for 2026–2030. Consultative Session Overview A consultative session was held on Tuesday, gathering representatives from federal, provincial, and Gilgit-Baltistan regulatory authorities. Key multilateral development banks, including the Asian Development Bank, Asian Infrastructure Investment Bank, and Islamic Development Bank, participated. Importance of Public Procurement Hasnat Ahmed Qureshi, Managing Director of the Federal PPRA, emphasized public procurement’s significance to the Pakistan economy, as it represents 19 to 20 percent of GDP. He explained how the strategy aligns with the federal government’s reform agenda by: Enhancing transparency Increasing accountability Boosting competition Improving efficiency Strategic Developments Qureshi highlighted the World Bank’s technical support and the combined efforts of federal and provincial authorities via the Advisory Group on Public Procurement. The new strategy addresses critical modern priorities, including: Digitization Sustainability Performance monitoring Contract management Workforce professionalization World Bank’s Analysis During the session, World Bank consultant Fayeq Deek presented an analysis of the current procurement landscape. He proposed strategic objectives alongside a comprehensive reform plan and an implementation framework.

ISLAMABAD — Easypaisa has partnered with the Pakistan Airports Authority and the State Bank of Pakistan to digitize consumer payments at Islamabad International Airport. This strategic initiative aims to establish a seamless cashless travel experience for passengers. Introducing Digital Payment Solutions The collaboration targets the deployment of digital payment solutions across numerous airport touchpoints. By implementing these systems, the partnership enhances traveler convenience and supports the evolution of a modern travel ecosystem. Commitment to Financial Technology This project underscores Easypaisa’s commitment to promoting digital financial solutions. It aligns with Pakistan’s broader objective to integrate financial technology across sectors.

ISLAMABAD — The Securities and Exchange Commission of Pakistan (SECP) Chairman Dr. Kabir Ahmed Sidhu has unveiled a comprehensive reform agenda aimed at strengthening Pakistan’s capital markets. The initiative is designed to enhance the investor base and improve financial literacy nationwide. Expanding Market Accessibility During a press briefing on Tuesday, Dr. Sidhu stressed the significance of increasing market accessibility. He highlighted that expanding this accessibility is crucial for attracting a diverse range of investors. This strategy aims to foster a more inclusive investment environment. Strengthening Regulatory Frameworks A key aspect of the reform is the strengthening of regulatory frameworks. Improving these frameworks is vital to ensure robust market growth and stability. Dr. Sidhu pointed out that these changes are essential for developing a more vibrant marketplace. Enhancing Market Transparency The reform agenda also emphasizes market transparency. The SECP plans to implement measures enhancing transparency to promote investor education. This effort is expected to attract both domestic and foreign investment, making the market more dynamic and appealing.