Pakistan’s remittances decreased 25.4 percent month on month in May, placing further strain on the external account and the rupee, which has already touched new lows against the dollar this week, according to central bank statistics released on Friday. According to figures from the State Bank of Pakistan (SBP), the country received $2.3 billion in […]
Super rich Pakistanis own properties worth more than Pakistan’s dollar reserves in offshore real estate market of Dubai. Two numbers represent the problem Pakistan is suffering from. Consider the depleting foreign exchange reserves of the country which many fear poses the risk of default and the super rich Pakistanis who own properties worth billions of […]
PTI government left $22 billion in liquid foreign exchange reserves compared to $14 billion left by PMLN in 2018 as per the Domestic Markets and Monetary Management Department. The central bank had foreign exchange reserves of $15.831 billion and commercial banks $6.451 billion on March 11 — before the political instability ensued due to no […]
Remittances have continued to maintain their strong impetus of remaining above $2 billion since June 2020. Money sent home by overseas Pakistani workers grew by 3.4 percent to US$2.52 billion in December 2021, said the State Bank of Pakistan (SBP) on Friday. This resulted in the increase of total remittances to $31 billion in the […]