Remittances sent by workers during the first five months (July-November) of the current fiscal year FY25 jumped 34 per cent, but fell last month compared to the preceding month. The latest data issued by the State Bank on Monday shows that remittances could reach the target of $35 billion set by the government for the current fiscal year. According to the State Bank, overseas Pakistanis sent
The United States is Pakistan’s indispensable partner as economic partnership between the two countries has been a cornerstone of the bilateral relationship, US Charge d’Affaires, Natalie Baker said on Monday. Addressing the fifth Pakistan-America Business Forum Summit, Mr Baker said Pakistan looks to move beyond the economic crisis and implement difficult but necessary structural economic re
Finance Minister Muhammad Aurangzeb has directed accelerated efforts to finalise the proposed policy framework to connect philanthropic contributions with the underserved segments of society. The minister issued the direction while chairing a meeting of the Prime Minister’s Committee on Social Impact Financing at the Finance Division on Monday. The session focused on advancing innovative financ
The International Cotton Association (ICA) has placed at least 84 Pakistani textile mills on the defaulter’s list and prohibited them from trading in the world cotton markets. The ICA website revealed on Monday that 84 Pakistani textile companies could not honour their cotton purchase agreements, and association members were asked not to enter into any deal with them. Most of these units are
Finance Minister Muhammad Aurangzeb assured a high-level delegation of US investors and business professionals on Monday that the government is committed to implementing economic reforms. The delegation put together by Ambassador Ali Jehangir Siddiqui comprised entrepreneurs, business practitioners, and professionals in technology, academia, and finance. Key members included Auren Hoffman, Chie