Karachi, September 11, 2024 – In a striking development, the federal government’s borrowing from scheduled banks for budgetary support nosedived by 58 percent during the first two months of fiscal year 2025 (FY25), signaling a significant shift in fiscal management compared to the same period last year.
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Pakistan Receives 84% Higher Remittances from UAE
Pakistan has seen a substantial surge in workers’ remittances from the United Arab Emirates (UAE) in the first two months of the 2024-25 fiscal year, according to recent data released by the State Bank of Pakistan (SBP).
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Pakistan Witnesses 44% Surge in Remittances in 2MFY25
KARACHI: Pakistan has witnessed a significant 44% increase in workers’ remittances during the first two months of the fiscal year 2025 (2MFY25), providing much-needed relief as the country grapples with external economic pressures.
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SBP Issues Foreign Exchange Rates for September 9, 2024
Today, September 9, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
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SBP Issues Foreign Exchange Rates for September 6, 2024
Today, September 6, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
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Pakistan’s Total Debt Rises to Rs 69.6 Trillion by July 2024
Karachi – Pakistan’s total debt surged to Rs 69.6 trillion at the end of July 2024, reflecting increased borrowing from domestic and international sources to cover the country’s fiscal deficit.
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SBP Announces Art Competition Results for New Banknote Series
Karachi, September 5, 2024 – The State Bank of Pakistan (SBP) has officially concluded its much-anticipated art competition for the designs of the new banknote series.
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SBP Records $34 Million Rise in Weekly Forex Reserves
Karachi, September 5, 2024 – The State Bank of Pakistan (SBP) reported an increase of $34 million in its foreign exchange reserves for the week ending August 30, 2024.
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SBP Issues Foreign Exchange Rates for September 5, 2024
Today, September 5, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
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Analysts Anticipate 150 Basis Points Policy Rate Cut by SBP
Karachi, September 5, 2024 — Analysts at Arif Habib Limited forecast a substantial reduction of 150 basis points in the State Bank of Pakistan’s (SBP) key policy rate, projecting the rate to fall to 18% during the upcoming monetary policy announcement on September 12, 2024.
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