ISLAMABAD: The Punjab government has disclosed Rs. A $1.5 billion investment plan to modernize and revitalize the citrus industry which represents the cornerstone of Pakistani horticultural exports. This initiative comes in the wake of detailed recommendations issued by the Pakistan Fruit and Vegetable Exporters Association (PFVA) to address the challenges faced by the sector. The … Read more
Pakistan’s monthly imports of goods reached $5.2 billion in December 2024, the highest figure in two years and an increase of $800 million compared to November 2024’s $4.4 billion. This recovery comes after a decline to $4.5 billion in December 2023, reflecting renewed momentum in trade flows and regional partnerships. Imports from Iran saw a … Read more
The State Bank of Pakistan (SBP) conducted an Open Market Operation (OMO) where it obtained a total of Rs460 billion from the market. OMO Result Summary: Tenor He writes Amount Offered (Rs in Millions) Amount accepted (Rs in millions) an average (%) quotes 03-day Repo sale (disposal) 460,000 460,000 12.90 – 12.95 12.95 OMO is … Read more
The State Bank of Pakistan (SBP) has raised the minimum paid-up capital requirement for exchange houses to Rs 1 billion, significantly tightening regulations to formalize the currency market. Dawn said the updated regulatory framework poses challenges for older companies while making it more difficult to establish new ones. In September 2023, the State Bank of … Read more
Pending approvals for the revised PC-1 project for the 2,160 MW Phase 1 hydropower project and unresolved security concerns are delaying the signing of additional $1 billion in financing agreements with the World Bank. Business Registrar The Ministry of Economic Affairs has urged the Ministry of Water Resources to expedite the submission and approval of … Read more
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh highlighted the growing trade relationship between Pakistan and the United States, noting that bilateral trade exceeded $7 billion in 2023 and reached $6.3 billion in the first 10 months of 2024. . He expressed optimism about doubling this volume in the coming … Read more
Elon Musk’s company, xAI, raised $6 billion in its latest funding round, bringing the total amount raised to $12 billion. The financing, which was disclosed in a US Securities and Exchange Commission filing, included 97 investors, including Andreessen Horowitz, BlackRock, Fidelity, Nvidia, AMD and Sequoia Capital, although individual contributions were not detailed. Reports indicate that … Read more
Chinese authorities have agreed to issue three trillion yuan ($411 billion) in special treasury bonds next year, which would be the highest ever, as Beijing steps up fiscal stimulus to revive the faltering economy, two sources said. The 2025 sovereign debt issuance plan would be a sharp increase from 1 trillion yuan this year, and … Read more
The Ministry of Energy issued an urgent appeal to release 400 billion rupees in support by the end of December to prevent a slide in circular debt management, a key goal agreed with the International Monetary Fund. News I mentioned. So far, the Finance Ministry has released only 82 billion rupees out of 1,229 billion … Read more
Foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $30.7 million (0.25% y-o-y) to $12.08 billion during the week ending December 13, 2024, according to data released by the State Bank of Pakistan on Thursday. The country’s total reserves also saw a slight increase of $31.8 million (0.19% year-on-year), reaching $16.63 … Read more