Policy monitor
State Bank of Pakistan
Track State Bank of Pakistan decisions on interest rates, inflation, reserves, the rupee and banking policy.
The reporting trail
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Pakistan / Politics & GovernancePM Shehbaz unveils Rs38bn Ramazan Package 2026 as cashless relief
Prime Minister Shehbaz Sharif launched a Rs38 billion Ramazan Package on 14 February, promising Rs13,000 in digital cash to each of more than 12 million families.
Pakistan / Business & FinancePakistan clears two foreign firms to start operations, including oilfield services provider
The Board of Investment approved two foreign firms, including oilfield services provider INTAJ LLC, to begin operations in Pakistan.
Pakistan / Business & FinancePakistan's central government debt rises to Rs78.5trn in December 2025
Pakistan's central government debt reached Rs78.5 trillion in December 2025, up 9.6 per cent year on year, with domestic debt at Rs55.4 trillion, State Bank data show.
Pakistan / Business & FinanceS&P projects Pakistan's economy to grow 3.5pc in FY26, 4.4pc in FY27
S&P Global Market Intelligence projected Pakistan's real GDP growth at 3.5pc in FY26 and 4.4pc in FY27, endorsing the State Bank's macroeconomic outlook.
Pakistan / Business & FinanceSBP holds policy rate at 10.5pc, cites improving growth and 7.4pc core inflation
SBP held the policy rate at 10.5pc on 26 January 2026, citing 5.6pc headline inflation, 7.4pc core, 3.7pc Q1 GDP growth and $16.1bn FX reserves.
Pakistan / Business & FinancePakistan current account slips into $244m deficit in December
State Bank of Pakistan data reported on 19 January 2026 show a $244 million current account deficit for December, ending a brief surplus as imports outpaced exports.
International — World / Business & FinanceTrump DOJ escalates pressure on Fed Chair Powell with criminal indictment threat
On 12 January 2026 the US Justice Department served subpoenas on the Federal Reserve over Chair Jerome Powell's June testimony, prompting markets to reprice Fed independence risk.
Pakistan / Business & FinancePSX KSE-100 crosses 187,000 in record first week of 2026
Pakistan Stock Exchange KSE-100 surged past 187,000 in early January 2026 as liquidity and rate-cut hopes drove a record week, while foreign investors remained net sellers.
Pakistan / Business & FinancePakistan forex reserves rise to $16bn, highest since FY21
The State Bank reported reserves of $16.055bn for the week ending 2 January 2026, the highest level since FY21, on rising remittances and heavy central-bank dollar buying.
Pakistan / Business & FinanceUBL becomes Pakistan's most valuable listed firm, overtakes energy stocks
On 7 January 2026, United Bank Ltd crossed a Rs1.28tr ($4.6bn) market cap — the first listed bank to lead the PSX by capitalisation, ahead of energy names.
Pakistan / Business & FinancePakistan CPI inflation slows to 5.6% in December as PBS releases mid-year data
Pakistan's headline inflation registered at 5.6% in December 2025, bringing average first-half inflation to 5.15% amid falling food and transport indices.
International — Region / International — RegionBulgaria adopts the euro: what changed beyond the banknotes
Bulgaria became the euro area’s 21st member on 1 January 2026, changing its cash, central-bank role and place in European monetary policy.