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Software Business Contributes Over 50% to IT Exports in FY23

Pakistan’s IT companies remained active in the software business, having a share of 52 percent in IT exports in the financial year 2022-23 (FY23).According to data released by the State Bank of Pakistan (SBP), the exports of software consultancy and c…

SBP Keeps Interest Rate Unchanged

The State Bank of Pakistan (SBP) has decided to keep the policy rate unchanged at 22 percent.The announcement was made by SBP Governor Jameel Ahmad in a press conference after the meeting of the Monetary Policy Committee (MPC) held today.In the statem…

Pakistan’s weekly inflation increases 29.21 pct

Pakistan’s weekly inflation, measured by the Sensitive Price Index (SPI), increased by 29.21 percent on a year-on-year basis, according to the Pakistan Bureau of Statistics (PBS) on Thursday.The PBS said that the SPI was computed to assess the price m…

State Bank Slaps Rs. 350 Million Fine on 6 Banks

The State Bank of Pakistan (SBP) has imposed penalties of Rs. 350.7 million on six major commercial banks mainly for the violation of its rules and regulations during the period of April to June 2023.According to the quarterly enforcement order, the b…

Pakistan Imported Tea Worth a Whopping Rs. 140 Billion in FY23

Pakistan imported tea worth a whopping Rs. 139.45 billion in the fiscal year 2022-23 (FY23), up 25 percent compared to imports of Rs. 110,985 billion reported in the previous fiscal year.According to data issued by the Pakistan Bureau of Statistics (P…

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