The State Bank of Pakistan (SBP) has signed an agreement with the International Finance Corporation (IFC) — a member of the World Bank Group — to strengthen local currency financing and support private sector growth in Pakistan, according to a press release issued on Monday. According to the World Bank, borrowing in foreign currencies exposes clients to the risk that debt and debt service payme
After receiving approval to restart flights to the United Kingdom, Pakistan is now preparing to resume direct air links with the United States, Aviation Minister Khawaja Asif said on Monday. Speaking to a private TV channel, Mr Asif indicated progress in discussions with American aviation authorities. “Hopefully, permission will be granted soon,” he said, adding that the government is
s Pakistan gears up to regulate crypto and blockchain, with the creation of a United Arab Emirates-like Virtual Assets Regulatory Authority, a specific use case related to stablecoins — a unique form of digital currency — raises concerns. These concerns, amplified by recent stablecoin legislation adopted by the US, have also led the European Central Bank to fast-track its plans for a digital euro,
In a significant move aimed at enhancing transparency, a parliamentary committee has recommended full deregulation of the sugar sector to curb market manipulation and speculative practices. To further overcome the irregularities in the sector, the committee also proposed reconstituting the Sugar Advisory Board, removing private sector representation from the body. The recommendations came from
Gold prices inched lower on Tuesday, as investors booked profits after bullion hit a fresh high in the previous session on hopes of further interest rate cuts from the U.S. Federal Reserve and strong safe-haven demand. Spot gold was down 0.3% at $4,340.29 per ounce, as of 0248 GMT, having hit an all-time high of $4,381.21 on Monday. U.S. gold futures for December delivery eased 0.1% to $4,35