pakistan foreign exchange
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Pakistan foreign exchange reserves rise in the fin…

ByJustpaste.in

 

Pakistan’s foreign exchange reserves recorded a modest increase during the last business week of July, reflecting a slight improvement in the country’s external financial position. According to the latest figures released by the State Bank of Pakistan (SBP), the nation’s total foreign exchange reserves increased by approximately 32.5 million US dollars during the week ending 31 July.

With this increase, Pakistan’s total foreign exchange reserves reached 22.47 billion US dollars. Although the weekly rise was relatively small, it is considered a positive development, as foreign exchange reserves play a vital role in maintaining economic stability, supporting international trade, and strengthening investor confidence. Higher reserves enable the country to meet its external debt obligations, finance imports, and manage fluctuations in the value of the Pakistani rupee.

The SBP reported that its own foreign exchange reserves rose by 13.1 million US dollars taking the central bank’s holdings to 17.04 billion US dollars by the end of the reporting week. The increase indicates a gradual strengthening of the country’s official reserve position. Central bank reserves are particularly important because they are used to stabilize the foreign exchange market, ensure adequate liquidity for international transactions, and provide a financial cushion during periods of economic uncertainty.

In addition to the improvement in the SBP’s reserves, the foreign exchange reserves held by Pakistan’s commercial banks also recorded an increase. According to the data, commercial banks’ reserves rose by 19.4 million US dollars bringing their total holdings to 5.43 billion US dollars. These reserves consist of foreign currency deposits and other external assets maintained by commercial banks to facilitate international trade, foreign currency transactions, and customer requirements.

The combined increase in the reserves of both the State Bank and commercial banks contributed to the overall rise in the country’s foreign exchange holdings. While the increase may appear modest in comparison to the total volume of reserves, it demonstrates stability in Pakistan’s external financial sector during the reporting period.

Foreign exchange reserves are closely monitored by investors, international financial institutions, and credit rating agencies because they provide an indication of a country’s ability to meet its international financial commitments. A healthy reserve position also supports economic confidence by reducing pressure on the exchange rate and helping the government manage external payment obligations more effectively.

Pakistan’s foreign exchange reserves have experienced fluctuations over the past few years due to factors such as external debt repayments, import payments, remittance inflows, export earnings, and financial assistance from international partners. As a result, weekly changes in reserves are often influenced by routine external transactions, repayments, and foreign currency inflows.

The latest increase in reserves suggests that Pakistan’s external account remained relatively stable during the final week of July. Economists note that sustaining and further improving reserve levels will depend on continued growth in exports, higher workers’ remittances, prudent fiscal and monetary policies, and the successful implementation of economic reforms. Maintaining adequate foreign exchange reserves remains essential for supporting macroeconomic stability, strengthening investor confidence, and ensuring the country’s ability to meet its international financial obligations in the months ahead.

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    Joe Wicks shares simple habit that transformed his parenting

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    Fitness coach and television personality Joe Wicks has opened up about how exercise has transformed not only his physical health but also his parenting, revealing that his daily workout routine helps him remain patient with his four young children. The 40-year-old fitness expert, who has built a global following with more than four million Instagram followers, shared the personal insight during a recent question-and-answer session, explaining that he exercises every morning before his children wake up to help regulate his emotions. Wicks said his message about fitness has evolved over the years and is now centred more on mental wellbeing than physical appearance. “The message I always share now is that exercise is about mental health. It’s about boosting your mood into being confident and energised and being a good parent and being patient,” he said. The father of four admitted that raising young children can be overwhelming, but said regular exercise allows him to approach parenting with a calmer mindset. “I have got four kids under seven and they stress me out so much, right? And if I didn’t exercise, I would be like my mum – she screamed at me and shouted at me and slammed doors. I’d be like my dad, I’d be aggressive and so for me, it’s like, I exercise every morning before they wake up, so I’m a calm dad,” Wicks explained. The fitness coach has previously spoken publicly about the difficult environment he experienced growing up. His father struggled with a long-term heroin addiction, while his mother battled obsessive-compulsive disorder (OCD) and eating disorders. Drawing on those experiences, Wicks said he is determined to create a different atmosphere for his own family and believes physical activity plays an important role in achieving that goal. He stressed that exercise should not be viewed simply as a way to improve appearance, but rather as a tool for improving overall wellbeing and relationships. “And that’s what I always share, exercise isn’t about how you look, it is also more than that. It’s so much more than that,” he said. Encouraging others to use their influence responsibly, Wicks urged people with public platforms to promote the wider benefits of staying active. “So just wherever you are, if you’re an influencer or you’ve got a platform, always share that message that exercise is a really powerful tool to change how you feel and help the relationship around you,” he added. Wicks shares four children with his wife Rosie. The couple are parents to Indie, Marley, Leni and Dusty, and the fitness coach has frequently spoken about balancing family life with his career. Known internationally for promoting home workouts and healthy living, Wicks has increasingly focused on the emotional and psychological benefits of exercise in recent years. His latest comments highlight how fitness has become part of his daily parenting routine, helping him stay patient and emotionally present for his children. Rather than chasing physical goals alone, Wicks said his morning workouts are about becoming the best version of himself for his family, explaining that maintaining his own mental wellbeing allows him to build healthier relationships with the people he loves most.

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    Father, two relatives held over newlywed’s deat…

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    KHANEWAL: The sudden death of a 25-year-old newlywed woman in Khanewal has taken a disturbing turn after police arrested her father and two relatives over allegations that she was strangled days after marrying a man of her choice. The woman, identified as Iqra, died in Mehr Shah, an area falling within the jurisdiction of Sadar Khanewal Police Station. Police said her family initially attempted to present the death as an electrocution incident. According to the police and the FIR, Iqra had married Sohail three days before her death despite opposition from her family. Her husband alleged that her father, angered by the marriage, brought her back from her in-laws’ home on the pretext of formally sending her off from her parental house. Investigators allege that after bringing her home, Iqra was strangled with the assistance of her uncle and brother. Police are also examining claims that the family later staged the scene to make the death appear accidental. The case has now triggered a formal murder investigation, with authorities focusing on the circumstances surrounding the young woman’s death. Police arrested Iqra’s father, Falak Sher, and registered a case. Her body was shifted to the District Headquarters Hospital in Khanewal for a post-mortem examination, which is expected to help establish the exact cause of death. Sadar police SHO Ramzan Gul said Falak Sher was in custody and that investigators were waiting for the post-mortem report before drawing final conclusions. The officer said preliminary findings suggested that Iqra’s father could be the main suspect, while investigators were questioning other family members and examining the alleged strangulation and reported attempt to disguise the circumstances of her death. Police said the investigation would proceed further once the medical findings are received. Until then, the allegations remain under investigation, while authorities continue to determine what happened to Iqra after she returned to her family home.

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    Govt increases petrol by Rs1.09, HSD by Rs2.42

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    The government on Thursday increased the prices of petrol and high-speed diesel (HSD) by Rs1.09 and Rs2.42 per litre, respectively, passing on the impact of fluctuating global oil prices amid ongoing Middle East tensions. Following the revision, petrol will retail at Rs336.15 per litre, while HSD will cost Rs393.04 per litre. The government continues to levy Rs110 per litre in taxes and duties on petrol and Rs96 per litre on diesel. The Petroleum Division’s notification said the new prices would be applicable for July 31 (Friday). The diesel price has come down from a peak of Rs520.35 recorded on April 3, after beginning its upward trajectory from Rs281 per litre when the US-Iran war broke out on February 28. Similarly, petrol had peaked at Rs458.41 on April 3 after rising from Rs266 in the first week of March. Earlier, Petroleum Minister Ali Pervaiz Malik announced that fuel prices would now be fixed on a daily basis due to fluctuations in international market prices following renewed hostilities between Iran and the US. The government had been announcing weekly revisions since early March, alongside conservation measures amid possible oil supply disruptions due to the ongoing conflict in the Middle East. In April, the federal government also announced targeted relief measures to provide subsidised fuel. The petroleum minister stated that the cabinet and the prime minister had decided to give the Oil and Gas Regulatory Authority (OGRA) the responsibility of deciding fuel prices on a daily basis based on international market trends. The daily pricing decision was rejected by the All Pakistan Dealers Association, which said it would consider a protest plan this week. Petrol is mainly used in private transport, small vehicles, rickshaws and two-wheelers, and changes in its price affect the middle and lower-middle classes. Similarly, diesel price changes impact the public at large, as it is primarily used in the heavy transport sector, power plants and large generators. Petrol and HSD are the major revenue earners, with monthly sales of about 700,000 to 800,000 tonnes, compared to just 10,000 tonnes of monthly demand for kerosene.

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    Pakistan, Spain discuss expanding trade, investmen…

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    RAWALPINDI: Ambassador of Spain to Pakistan, H.E. Carlos Aragón Gil de la Serna, visited the Rawalpindi Chamber of Commerce & Industry (RCCI) and held a meeting with RCCI President Usman Shaukat to discuss ways to further strengthen bilateral economic, trade and cultural relations between Pakistan and Spain. Rana Mashhood Ahmad Khan, Coordinator to the Prime Minister’s Youth Programme, was also present as the chief guest on the occasion. Senior Vice President Khalid Farooq Qazi, Vice President Fahad Barlas, former presidents of RCCI, Executive Committee members and a large number of Chamber members also attended the meeting. Upon their arrival, the Spanish Ambassador and Rana Mashhood Ahmad Khan were warmly welcomed by RCCI President Usman Shaukat and members of the Chamber. RCCI President Usman Shaukat highlighted the significant potential for expanding Pakistan–Spain trade and called for stronger business-to-business linkages, improved market access, and enhanced cooperation in investment and technology. He said Spain offers important opportunities for Pakistani exporters, particularly in textiles and agro-based products, while Pakistan can benefit from Spanish expertise in modern agriculture, precision farming, irrigation, mechanization, greenhouse technology and water management. The discussion assumes added significance in light of recent Pakistan–Spain consultations regarding the establishment of a Joint Working Group on Agriculture. Pakistan has identified rice, ethanol, potatoes and maize as products with potential for increased exports to the Spanish market. Spain has also acknowledged Pakistan’s favourable trade balance, with textiles being among Pakistan’s major exports to Spain. On this occasion, Rana Mashhood Ahmad Khan highlighted RCCI’s important role in supporting the government on economic and budget-related matters and appreciated the Chamber’s contribution towards strengthening Pakistan’s economic foundations. He said Pakistan is moving forward across various sectors, particularly information technology, and stressed the need to further promote investment, innovation and entrepreneurship. Rana Mashhood said the Prime Minister’s Vision 2047 provides a roadmap for building a prosperous, self-reliant and globally competitive Pakistan. He emphasized that youth empowerment, employment generation, peace and economic stability are essential priorities for the country’s sustainable development. He added that Pakistan’s young population represents a major national asset and that greater opportunities for skills development, entrepreneurship and employment are needed to fully harness its potential. He also appreciated the growing economic and diplomatic engagement between Pakistan and Spain, saying stronger cooperation with European countries can create new opportunities for Pakistani businesses, exporters and young entrepreneurs. In a special gesture of friendship and goodwill, RCCI President Usman Shaukat and Rana Mashhood Ahmad Khan jointly presented H.E. Carlos Aragón Gil de la Serna with a football manufactured in Pakistan for the FIFA World Cup. The presentation showcased Pakistan’s strong sports manufacturing capabilities and symbolized the growing friendship, cooperation and people-to-people ties between Pakistan and Spain. The Spanish Ambassador also participated in RCCI’s Independence Day celebrations and cake-cutting ceremony, further reflecting the warm cultural and people-to-people relations between the two countries. The meeting concluded with a shared commitment to promoting bilateral trade and investment, technology cooperation, agricultural collaboration and stronger institutional linkages for the mutual economic benefit of Pakistan and Spain.

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    Adani group weighs entry into Indian aviation mark…

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    Indian billionaire Gautam Adani’s conglomerate is exploring a possible entry into the airline business, a move that could disrupt an Indian aviation market currently controlled by just two major carriers, according to two people familiar with the discussions. The consideration marks a potential shift in direction for the group, which runs eight airports across India, including two serving Mumbai, and is midway through an expansion plan worth 11 billion dollars. The group had previously indicated it had no plans to enter the airline sector. According to one of the sources, who spoke on condition of anonymity because they were not authorized to discuss the matter publicly, no final decision has been reached and the idea remains under internal review, partly because the airline business is widely seen as difficult to run profitably. The source said Indian officials have privately encouraged large business groups, including Adani’s, to consider launching a carrier following heightened scrutiny of Air India after a fatal crash in Ahmedabad last year, along with operational breakdowns at market leader IndiGo that disrupted air travel nationwide in December. The source characterized Adani’s interest as motivated partly by a sense of national interest, noting that the government has grown concerned that the country needs another major airline given the troubles at both existing carriers. Shares of Adani Enterprises fell more than 3 percent on Thursday following the report. Internal talks about a possible airline venture remain in early stages, and the group has not set a timeline for a decision. Adani ranks as Asia’s second wealthiest individual, with a net worth of roughly 89 billion dollars, though entering the airline industry would represent one of the riskier moves of his business career. Several Indian carriers, including Kingfisher, Jet Airways and Go First, have collapsed into bankruptcy over the past fifteen years amid high taxes, intense competition and supply chain problems. While Adani has aggressively expanded his footprint in ports and airports, he has also spent time since 2024 contending with United States allegations that he paid bribes to secure a solar energy project. Those charges were dropped by American prosecutors earlier this month. India remains one of the fastest growing aviation markets in the world, but the sector has faced persistent concern over its lack of competition. IndiGo currently holds about 65.4 percent of the domestic market, while Air India controls roughly 25 percent, leaving little room for smaller players. The Indian government has said it wants to expand the country’s airport network to between 350 and 400 facilities by 2047, up from 74 in 2014, as passenger traffic climbs and airlines place record aircraft orders with Boeing and Airbus. Rajan Mehra, the former India head of Qatar Airways, said an Adani led entry into aviation could reshape the sector, though he added that regulators would need to ensure strong safeguards and a level playing field for all carriers going forward. One option under consideration is acquiring a stake in an existing airline rather than building a new one from scratch, according to the second source, who said the group is keeping all possibilities open. The government’s push for new entrants comes after it warned IndiGo in December that it could face regulatory action following a wave of flight cancellations triggered by a pilot shortage. That crisis stranded thousands of passengers and prompted officials to intervene to curb a sharp spike in airfares. The broader push toward breaking up India’s aviation duopoly reflects a pattern seen in other fast growing emerging markets, where regulators and governments have historically encouraged new entrants once dominant carriers show signs of strain, though such efforts have a mixed record of success given the industry’s notoriously thin margins and high capital requirements.

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    PITB IT certification scheme crosses 20,000 applic…

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    LAHORE: The Punjab Information Technology Board (PITB) has crossed a major milestone in its Global IT Certifications Program, attracting more than 20,000 applications since the initiative was launched in September 2024. The achievement was highlighted during a progress review meeting chaired by PITB Chairman Faisal Yousaf, where senior officials assessed the program’s implementation and future direction. The meeting was attended by Director General e-Governance Sajid Latif, Director of the Skills Development Wing Chaudhry Ahmed Islam, and other senior officials. Discussions focused on the pace of application processing, candidate and certification verification, as well as the reimbursement system designed to support successful participants. Officials informed the meeting that the eligibility of nearly 11,000 applicants has already been verified through a dedicated online portal developed by PITB. Payment verification has been completed for approximately 1,350 candidates, while certification verification has been finalized for around 1,150 applicants, paving the way for reimbursement of certification costs. According to the briefing, 662 candidates have so far received full reimbursement of their certification fees. The payments were transferred directly to their bank accounts after successful completion of internationally recognized IT certifications and the verification of their credentials. The Global IT Certifications Program is aimed at equipping Punjab’s youth with internationally recognized digital qualifications, helping them strengthen their professional skills, improve employment prospects, and compete in the rapidly evolving global technology sector. Speaking during the meeting, Chairman Faisal Yousaf said the strong response from aspiring professionals reflects the increasing demand for internationally recognized digital expertise. He noted that, in line with the evolving needs of the IT industry, PITB has expanded the initiative to include 125 globally recognized IT certifications, offering young Pakistanis broader opportunities to develop competitive careers in the international digital economy. PITB has encouraged interested individuals to apply for the program through its official online portal, where details regarding eligibility, available certifications, and the registration process are available.

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