The foreign exchange reserves held by the State Bank of Pakistan (SBP) continued to decline for the third consecutive week, falling by $72 million during the week ended Aug 1. This brings the SBP’s total reserves down to $14.232 billion. Since July 11, the central bank has lost a cumulative $294m in reserves, reversing part of the gains made by the end of the last fiscal year. The SBP had close
GSMA, a global organisation representing mobile operators and entities across the mobile ecosystem and adjacent industries, has warned that Pakistan, despite having talent, ambition, and a vision for ‘Digital Pakistan’, risks falling behind regional peers unless urgent reforms are introduced in telecom policy — a delay that could drive away investors and ultimately harm consumers. Julian Gorman
Pakistan Refinery Ltd will import its first cargo of Nigerian Bonny Light crude from Vitol in September, two sources familiar with the matter said, as Asian refiners shift towards cheaper alternatives to Middle Eastern oil. The 500,000-barrel, light-sweet crude cargo is expected to load later this month and arrive in Karachi by late September, the sources said, declining to be named as the info
The Organic Meat Company Ltd (TOMCL) has become the first meat processing and exporting firm from Pakistan to qualify for direct exports to Carrefour Majid Al Futtaim Hypermarkets (LLC-MAF) across the United Arab Emirates (UAE). In a stock filing on Thursday, TOMCL announced it had successfully passed Carrefour’s comprehensive audit covering system integrity, hygiene, and operational excellence
The National Electric Power Regulatory Authority (Nepra) on Thursday notified a decrease of Rs1.89 in the uniform tariff for the next three months. A notification dated August 7 and available with Dawn.com said that the authority “decided to allow the application of instant quarterly adjustments on the consumers of K-Electric as well, with the same applicability period. “Accordingly, the ins