The State Bank of Pakistan (SBP) has directed banks to open new accounts within two days as part of efforts to enhance financial inclusion and improve customer experience. In a statement, the SBP said it has simplified the account opening process for both individuals and businesses, and instructed regulated entities (REs) to offer digital payment acceptance solutions to merchants operating in-s
Prime Minister Shehbaz Sharif has approved the development of a modern and world-class digital ecosystem in the Federal Board of Revenue (FBR), directing that globally renowned experts be engaged for this purpose. The premier was chairing a meeting to review progress on FBR reforms in Islamabad on Saturday. He directed the FBR to continue dialogue with the business community over tax compl
Pakistan’s exports to five Central Asian countries (CACs) declined by 31.63pc during the outgoing fiscal year (FY25), despite efforts to expand regional trade and implement transit agreements. At the same time, imports from the region surged more than fourfold, deepening the trade imbalance. According to data compiled by the State Bank of Pakistan, exports to Kazakhstan, Kyrgyzstan, Tajikistan,
The rupee strengthened against the US dollar, gaining Rs1.30 in the interbank market and Rs1.50 in the open market, following a renewed crackdown on currency smuggling. Bankers and currency dealers attributed the improvement largely to administrative measures rather than market fundamentals. The dollar fell in the interbank market from Rs284.80 to Rs283.50, while in the open market, it declined
Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry has said Pakistan is home to the largest contiguous arid mangrove forest in South Asia — located in the Indus Delta region of Sindh — with the potential to generate up to $50 million annually through carbon credit markets. In a message marking the International Day for the Conservation of the Mangrove Ecosystem on Saturday, th