Financial inclusion, i.e the share of the adult population operating a bank account, has jumped from 16 per cent in 2015 to 64pc in 2023, according to the State Bank of Pakistan (SBP). Since 2015, SBP has implemented two National Financial Inclusion strategies (NFIS), 2015-18 and 2019-23, with the goal to improve access and usage of formal financial services by the masses. In the NFIS report
Bears further tightened their grip on the Pakistan Stock Exchange (PSX) as equity prices fell like ninepins for the fourth successive session on Thursday, dragging the KSE-100 index below the 113,000 level as nervous investors continued offloading their holdings amid growing political and economic tensions. Ahsan Mehanti of Arif Habib Corporation said selling pressure was witnessed across the b
The foreign exchange reserves of the State Bank of Pakistan (SBP) decreased by $15 million to $11.69bn during the week ended on Jan 3, reported the central bank on Thursday. The SBP reserves have been declining for the last three weeks. The country’s total reserves were $16.377bn, including $4.682bn held by commercial banks.
The Fertiliser Review Committee has expressed satisfaction with fertiliser production and its market supply position. The meeting, chaired by Industries and Production Minister Rana Tanveer Hussain, was informed on Thursday that the required balance prevailed in the supply and demand of urea for the Rabi season 2024-25, and the fertiliser manufacturing plants were operating efficiently ac
State Bank Governor Jameel Ahmed expressed hopes on Thursday that an uptick in remittances and dip in inflation would lend stability to the economy this year. The governor was addressing the representatives of trade and industry at the FPCCI building. He said inflation would further decline this month, but it might fluctuate over the next five months and could settle between five and seven p