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SBP’s reserves decreased by US$ 354 million

The total liquid foreign reserves held by the country stood at US$ 9,815.9 million as of 24-Mar-2023. The break-up of the foreign reserves position is as under:

  • Foreign reserves held by the State Bank of Pakistan: US$ 4,244.3 million
  • Net foreign reserves held by commercial banks    : US$ 5,571.6 million
  • Total liquid foreign reserves                 : US$ 9,815.9 million

During the week ended on 24-Mar-2023, SBP’s reserves decreased by US$ 354 million to US$ 4,244.3 million due to external debt repayment.… Continue

Bank Alfalah and SAWiE join hands to promote climate-smart agriculture in Pakistan.

Bank Alfalah, a leading commercial Bank in Pakistan and SAWiE, a digital platform offering smart farm advisory services to smallholder farmers, signed an MoU to promote climate-smart agriculture practices within Pakistan. Under this MoU, SAWiE will leverage its systems to combine geospatial data with machine learning and AI applications to provide sustainable solutions to farmers.… Continue

The PSX witnessed a mixed session today.

· The PSX witnessed a mixed session today. The benchmark KSE-100 opened in the green but traded both ways. Activity remained sluggish throughout the trading session. Investors opted to remain sidelined because of the impending delay in signing the SLA between the government and IMF and the prevailing political uncertainty affecting investors’ confidence.… Continue

foodpanda partners with The Citizens Foundation (TCF) to promote education in Pakistan

Pakistan’s leading food and grocery delivery platform, foodpanda, is proud to announce its partnership with The Citizens Foundation (TCF), a non-profit organisation dedicated to promoting education for less privileged children in the country. Through this partnership foodpanda aims to support TCF’s numerous initiatives by raising awareness about their cause and encouraging donations from foodpanda’s customers.… Continue

MMBL signs agreement with Careem to offer subsidized travel services for its employees

Mobilink Microfinance Bank Limited (MMBL) has entered into a new partnership with Careem, Pakistan’s largest ride-hailing service, to provide discounted and subsidized intra as well as inter-city travel services for its employees. The initiative is designed to bring ease and convenience for MMBL employees and their families, enabling them to commute safely and affordably with Careem across Pakistan.… Continue

Removal from the list of high-risk countries is an achievement for Pakistan.

On Thursday, former President of the Islamabad Chamber of Commerce and Industry (ICCI), Dr Shahid Rasheed Butt, said removing Pakistan from the European Union’s list of high-risk countries is a great achievement. He said that the development would positively impact the overall business environment; it would save time and cost for exporters, boost exports, and improve international borrowing capabilities.… Continue

KCCI to remain open till 5:00PM on Friday for Membership renewal

The Karachi Chamber of Commerce & Industry (KCCI) will remain open for membership renewal till 5:00PM on Friday, March 31, 2023 which is the last date for membership renewal. According to a statement issued, the process of membership renewal is currently underway at the Karachi Chamber for the year 2023-24 and as the last date for renewal of membership was falling on Friday, KCCI’s management decided to keep membership department open for renewal only from 9:30AM till 5:00PM with prayer break in between 12:30PM to 2:00PM.… Continue

Dr. Zulfiqar Bhutta of Aga Khan University receives the 2023 Henry G. Friesen International Prize in Health Research.

Dr. Zulfiqar A. Bhutta, distinguished university professor and founding director of the Institute for Global Health and Development and the Centre of Excellence in Women and Child Health at the Aga Khan University, has been awarded the prestigious Henry G. Friesen International Prize in Health Research for his contributions to global child health.… Continue