The State Bank of Pakistan (SBP) has reportedly selected a Japanese firm to develop a central bank digital currency (CBDC), following the federal government’s formal approval of the Virtual Assets Act 2025 last month. Japanese news outlet Nikkei Asia reported on Tuesday that Soramitsu, a blockchain technology developer based in Japan, is collaborating with the SBP on a pilot programme to introd
The Ministry of Planning and Development has authorised the release of Rs141 billion under Public Sector Development Programme (PSDP) for the projects of federal ministries and divisions for the first quarter (July-September) of the current fiscal year. Funds for Azad Jammu and Kashmir, and Gilgit-Baltistan will be released on a biannual basis due to seasonal constraints, according to the m
After a 43pc surge during FY25, the new fiscal year FY26 began on a positive note, with sales of cars, light commercial vehicles (LCVs), pickups, and jeeps rising 28pc year-on-year in July to 11,034 units. However, sales were down 49pc month-on-month, largely due to the high base effect of June. Data released by the Pakistan Automotive Manufacturers Association (PAMA) showed significant momentu
The Board of Governors of the National Seed Development and Regulatory Authority (NSDRA) has approved key reforms in the seed sector, including the pilot launch of a ‘Truth-in-Labelling System’ for cotton, aimed at protecting farmers from substandard seeds. The initiative will be underpinned by clear eligibility criteria and climate-smart protocols, ensuring seed quality and traceability. Th
President Donald Trump said on Tuesday he might allow “a major lawsuit against” the US central bank chief to proceed, as he complained again about renovations to the Federal Reserve headquarters and renewed pressure to lower interest rates. “The damage he has done by always being Too Late is incalculable,” Trump wrote of Fed Chair Jerome Powell on his Truth Social platform. He added that he