The government only managed to spend around 41 per cent of the development funds allocated for the fiscal year despite the passage of 10 months, the planning ministry has said. The development spending stood at Rs448.6bn in the first 10 months (July-April) of fiscal year 2025, accounting for less than 41pc of Rs1.1 trillion revised budget allocation for the whole year. The lack of spending s
Bloodbath continued on the Pakistan Stock Exchange (PSX) for the second straight day as the index suffered the largest-ever plunge, causing almost Rs820 billion loss to equity investors on Thursday after India launched drone attacks in major cities, including Karachi and Lahore. The market capital had lost Rs1.3 trillion in value in three sessions as jittery investors preferred to exit the mark
Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $118 million to $10.332 billion for the period ending on May 2, announced the central bank, without disclosing the source of this inflow. Bankers believe the rise was due to the SBP’s buying of dollars from the interbank market. It has a target of $14bn by the end of this fiscal year on June 30. The country’s ove
Bitcoin topped $100,000 on Thursday for the first time since early February, bolstered by a wide-ranging deal between the United States and the United Kingdom in a sign that perhaps President Donald Trump’s trade war with the rest of the world is easing. By midday, bitcoin was trading at $101,329.97, a 4.7% gain on the day. The world’s biggest cryptocurrency has clawed its way back into positiv
Pakistan’s export of services grew 9.85 per cent to $6.24 billion in the first nine months of 2024-25 from $5.68bn a year ago, driven by a surge in demand for telecommunication, computer, and information services. Services exports have seen positive growth since February 2024. However, there was a 6.50pc decline in August 2024. In rupee terms, the exports improved by 7.41pc to Rs1.734 trilli