Pakistan’s debt rose to Rs69.6 trillion in July 2024, marking a 12.7% increase compared to the same period last year, according to data released by the State Bank of Pakistan (SBP). The debt grew by 1% on a month-to-month basis, up from Rs68.9 trillion in June. The government’s domestic debt increased by 22.2% year-on-year, reaching … Read more
ISLAMABAD: Pakistan’s exports to seven regional countries saw a 25.59% increase in the first month of the current fiscal year (2024-25), reaching $339.88 million14.21% of the total $2.39 billion in exports during July, according to the State Bank of Pakistan (SBP). China was the largest export destination, with exports rising by 4.13% to $160.1 million, … Read more
People move past a road washed out by floodwaters in Pakistan’s northern Swat Valley on August 27, 2022. — AFP Those dead include 43 children, 26 men and 19 women. At least 129 people have been injured owing to devastations. “A total of 958 houses were damaged by rains,” says PDMA. The ongoing rains and floods … Read more
The United States (US) was the leading destination for Pakistani exports during the first month of the current financial year 2024-25, followed by the United Arab Emirates (UAE) and the United Kingdom (UK). According to the State Bank of Pakistan (SBP), Pakistan’s total exports to the US in July 2024 amounted to $476.017 million, up … Read more
The Pakistan Telecommunication Authority (PTA) has reported a decline in local mobile phone manufacturing, with production and assembly dropping to 1.61 million units in July 2024. This represents a 20% year-on-year decrease and a dramatic 62% month-on-month decline. The sharp drop in July is attributed to a surge in pre-buying activities in June 2024, following … Read more
Demonstrators shout slogans after they have occupied a street during a protest demanding the stepping down of Bangladeshi Prime Minister Sheikh Hasina, following quota reform protests by students, in Dhaka, Bangladesh, August 4, 2024. — Reuters DHAKA: Violence that erupted in Bangladesh during last month’s anti-government protests killed more than 1,000 people, the interim health … Read more
KARACHI: Overseas Pakistanis deposited and invested $161 million in July 2024 through the Roshan Digital Account (RDA), a figure below the past six-month average, contributing to a Rs0.18/$ decline in the domestic currency in the inter-bank market on Wednesday. According to State Bank of Pakistan (SBP) data, these inflows have pushed total RDA receipts to … Read more
Foreign Direct Investment (FDI) in Pakistan increased by 64% in the first month of the fiscal year 2025 (FY25), according to data released by the State Bank of Pakistan (SBP). The country attracted net FDI totaling $136.3 million in July 2024, up from $83.2 million in July 2023, marking a rise of $53 million. The … Read more
KARACHI: Pakistan posted a current account deficit (CAD) of $162 million in the first month (July) of the current fiscal year 2024-25, slightly exceeding market expectations and the average of the past 12 months, yet still remaining well within the targeted limit. The current account deficit occurred due to increased imports of goods to support … Read more
KARACHI: Pakistan’s real effective exchange rate (REER) – the value of local currency as compared to a basket of currencies of trading partners – appreciated to 101.47 in July 2024, apparently putting some pressure on exports. According to the State Bank of Pakistan (SBP) data, the REER index had been at 100.06 in June 2024, … Read more