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SBP & Monetary Policy

Pakistan’s Domestic Borrowing Crosses FY25 Level Before Fiscal Year Ends

The federal government’s domestic borrowing rose sharply during June 15–19, with Rs122 billion borrowed daily from commercial banks, according to the latest State Bank data. Total borrowing in the ongoing FY26 has exceeded the full-year borrowing recorded in FY25, highlighting increased reliance on local financing before the fiscal year closes.

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SBP & Monetary Policy

Pakistan Remittances Rise 9% to $41.6bn in FY26

Pakistan’s overseas workers’ remittances were increased by 9% to $41.6 billion during Jul-June FY26, compared with $38.3 billion in the previous fiscal year. In June, inflows were recorded at $3.475 billion, according to SBP data. Although remittances were declined by 18% month-on-month, a 2% year-on-year increase was posted. The annual rise was attributed by analysts to structural improvements and policy measures.

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SBP & Monetary Policy

InvestPak Portal Launched to Digitise Govt Securities Investment

Finance Minister Muhammad Aurangzeb launched the State Bank of Pakistan’s InvestPak Portal, which has been described as the beginning of a new era of investment. The digital platform has been designed to simplify and digitise investment in government securities for both individual and corporate investors, making access to secure investment options easier and more transparent.

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SBP & Monetary Policy

SBP Forecasts $44bn Remittances in FY27 as Export Recovery Expected

State Bank of Pakistan (SBP) Governor Jameel Ahmad has projected Pakistan’s FY26 GDP growth at 3.75%–4.75%, exceeding the government’s provisional estimate of 3.7% despite the Middle East crisis. Speaking at a press conference, he said SBP’s foreign exchange reserves climbed to $18.4 billion from $13 billion in FY25, even after $8 billion in debt repayments during June. Workers’ remittances are expected to exceed $41.5 billion in FY26, with Jul–May inflows rising 9.2% to $38.1 billion from $34.9 billion a year earlier. SBP projects $44 billion remittances in FY27. FY26 inflation is estimated at 7.05%, while exports are expected to recover in FY27 despite the FY26 trade deficit widening 21.57% to $39.47 billion. Ahmad also confirmed SBP has ended the Sohni Dharti Remittance Program (SDRP) and Telegraphic Transfer Charges Incentive Scheme (TTCIS), saying banks will continue encouraging remittance inflows.

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