Category: bussines

KARACHI: The State Bank of Pakistan (SBP) said on Monday that Pakistan’s workers’ remittances surged to an all-time high of $4.1 billion in March 2025, marking the first time that monthly inflows have crossed the $4 billion milestone. A 37.3% year-on-year increase from March 2024 and a 29.8% month-on-month rise compared to February 2025 have been represented by this historic inflow. It is the highest level of monthly remittances ever recorded in the country’s history. According to Mustafa Mustansir, Director of Research and Business Development at Taurus Securities Limited, the surge…

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KARACHI: State Bank of Pakistan (SBP) Governor Jameel Ahmad on Monday revealed that Pakistan’s external payment obligations stood at $26 billion, of which $16 billion were expected to be rolled over or refinanced, while $8 billion out of the remaining $10 billion had already been repaid. Speaking at the opening ceremony of Pakistan Literacy Week, Ahmad spoke on the country’s economic outlook, monetary policy, and financial literacy. Noting that the country’s foreign exchange reserves were likely to exceed $14 billion by June 2025, the governor said that the current account was expected…

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Pakistan imported more solar panels than almost any other nation in the world by the end of 2024 despite no sweeping law, no global investment blitz, no prime minister announcing a green revolution. While facing economic challenges and high energy poverty, the country is witnessing one of the most unexpected clean energy success stories of the decade, reported The Independent. According to the Global Electricity Review 2025 by Ember, an energy think tank in the UK, Pakistan has joined the ranks of the world’s leading solar markets, importing 17 gigawatts of solar…

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The stock market staged a robust rebound on Monday as investor confidence returned following reassuring signals from the central bank about the country’s external financing outlook. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index climbed to an intraday high of 116,177.18 points in early trading, gaining 1,323.85 points, or 1.15%, over the previous close of 114,853.33. The session’s low was recorded at 115,246.20 points, still reflecting a gain of 392.87 points or 0.34%. “Equity market participants are reacting positively to the SBP Governor’s announcements made today: expected record remittances of…

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BEIJING: Beijing urged the United States on Sunday to “completely cancel” its reciprocal tariffs after Washington put forward some exemptions for electronics and key chipmaking equipment. “We urge the US to […] take a big step to correct its mistakes, completely cancel the wrong practice of ‘reciprocal tariffs’ and return to the right path of mutual respect”, a commerce ministry spokesperson said in a statement. A notice late on Friday by the US Customs and Border Protection office said smartphones, laptops, memory chips and other products would be excluded from…

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KARACHI: The federal government is expected to announce a major cut in petroleum product prices of more than Rs8 per litre on April 15 following variations in global oil rates, Geo News reported citing sources on Sunday. Hinting at relief to consumers reeling amid skyrocketing inflation, the sources said the petrol price likely to be dropped by Rs8.27 per litre, whereas the diesel rate may see a reduction of Rs7 per litre for the next fortnight. Likewise, a Rs7.47 per litre drop is expected in kerosene oil and a Rs7.21 per litre…

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LONDON: The UK government has announced $26 billion (£20 billion) in extra funding to help British exporters, especially those affected by US tariffs, as part of efforts to support businesses facing growing pressures from global trade tensions. Britain made the announcement on Sunday as the tariffs, introduced by US President Donald Trump, have deepened uncertainty for UK businesses about their exposure to the new trade regime. The tariffs, introduced by US President Donald Trump, have deepened uncertainty for UK businesses about their exposure to the new trade regime. The United States…

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LONDON: The UK government has announced $26 billion (£20 billion) in extra funding to help British exporters, especially those affected by US tariffs, as part of efforts to support businesses facing growing pressures from global trade tensions. Britain made the announcement on Sunday as the tariffs, introduced by US President Donald Trump, have deepened uncertainty for UK businesses about their exposure to the new trade regime. The tariffs, introduced by US President Donald Trump, have deepened uncertainty for UK businesses about their exposure to the new trade regime. The United States…

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Finance Minister Muhammad Aurangzeb on Saturday said Pakistan was eyeing an economic boost through its high-potential sectors, drawing inspiration from Singapore’s export-driven model, and also hinted at easing the tax burden on the salaried class. “The IT and mineral sectors would be game changers for Pakistan’s economy, with Prime Minister Shehbaz Sharif leading efforts to deliver results soon,” Aurangzeb said, speaking to the business community at the Lahore Chamber of Commerce and Industry (LCCI). The finance minister said only nickel had become a major export driver for Singapore with $22…

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The Wall Street Journal has said Binance executives called on US Treasury officials in March to discuss relaxing government regulation on the company and looking into a potential business partnership with President Donald Trump’s cryptocurrency venture, World Liberty Financial. The WSJ article, which cited sources involved with the discussions, on Friday said executives of the biggest cryptocurrency exchange in the world urged the Treasury authorities to remove a US monitor that was monitoring the company’s adherence to anti-money-laundering laws. Binance has also been in talks to list a new dollar-pegged…

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