The government has unveiled a strategy to transform Pakistan’s financial sector into a fully Shariah-compliant system after December 31, 2027, pledging a gradual transition that safeguards financial stability, honours all existing contracts, and avoids disruption to banking, capital markets and public finances. The ‘Post-2027 Financial System in Pakistan’ strategy paper, released by the Finance Division, […]
Business
Pakistan buys spot LNG cargo fearing disruptions over renewed ME tension
Pakistan bought a Liquefied Natural Gas (LNG) cargo from the costlier spot market this week, an official tender document showed, with a top energy ministry official saying Islamabad was “concerned” that renewed tensions in the Strait of Hormuz could threaten its energy supplies. Despite signing a peace agreement brokered by Pakistan earlier this month, the […]
Gold prices dip by Rs 5,200 per tola
The prices of gold witnessed a decline in the local market on Wednesday, with the price of 24-karat gold per tola decreasing by Rs5,200 to settle at Rs419,636, according to rates issued by the All Pakistan Sarafa Gems and Jewellers Association. Similarly, the price of 10 grams of 24-karat gold fell by Rs4,458 to Rs359,770, […]
PSX rises by over 2% on back of bullish momentum
The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) extended its bullish momentum on Wednesday, gaining 3,748.40 points, a positive change of 2.08 percent, closing at 184,050.10 points against 180,301.70 points on the last trading day. During the session, the ready market recorded a trading volume of 941.479 million shares with a traded value […]
SECP unveils Pakistan’s first ESG mutual funds framework
Pakistan raised more than Rs20 billion ($71 million) through stock market listings in the first half of 2026, the country’s securities regulator said on Wednesday, as Islamabad pushes to deepen its capital markets and encourage companies to raise money from investors rather than relying primarily on bank loans. Pakistan’s economy has traditionally depended on commercial […]
Pakistan, China enter into banking partnership as RMB trade surges
Pakistan’s leading financial institution, HBL, signed partnership agreements with China CITIC Bank and China Chengxin International Credit Rating Company (CCXI), marking another step in expanding the financial cooperation between China and Pakistan as the Bank celebrated the fifth anniversary of its Beijing Branch operation. The agreements aim to strengthen cross-border financing, RMB business and credit […]
Pakistan records 12% increase in digital banking
In a major development, Pakistan registered a surge of 12 percent in digital transactions. According to the Pakistan Banking Association (PBA) 88 percent of payments are being made digitally. The Pakistan Banking Association said that more transactions do not always mean more money. Pakistan Banks Association to hold key meetings on retail banking and the […]
Inflation seen at 11-12% in June
The Ministry of Finance has released its monthly economic outlook report, estimating that inflation will remain in double digits at 11% to 12% in June. According to the report, the Finance Ministry admitted that inflation is expected to stay in double digits during June. The ministry estimated inflation for the month at 11% to 12%, […]
Oil climbs as Iran-US talks falter
Oil prices rose on Wednesday as uncertainty over Iran-US negotiations renewed concerns about crude supplies from the Middle East. Investors feared stalled diplomatic efforts could prolong regional supply disruptions. The gains reflected growing caution in global energy markets. Brent crude futures rose 33 cents, or 0.45%, to $73.28 a barrel, while US West Texas Intermediate […]
Pakistan fiscal federalism shows mixed progress: WB
The World Bank has said Pakistan has made “meaningful” progress in fiscal federalism since 2010 but still deviates from international norms. The assessment highlights ongoing gaps in federal–provincial financial arrangements. The findings suggest structural weaknesses continue to affect revenue and governance outcomes. In its report titled Strengthening Fiscal Federalism in Pakistan, the World Bank identified […]