ISLAMABAD: The State Bank of Pakistan (SBP) reported a $72 million decline in its foreign exchange reserves, bringing its holdings to $14.23 billion. Meanwhile, commercial banks held $5.26 billion, taking the country’s total reserves to $19.49 billion.
In a positive development, Nepra (National Electric Power Regulatory Authority) approved a reduction in electricity prices by Rs 1.89 per unit, providing relief to consumers.
On the economic front, Prime Minister Shehbaz Sharif expressed satisfaction over Pakistan’s export growth, which reached $2.7 billion in the first month of the new fiscal year—a 9% increase compared to the previous period.
The Prime Minister stated, “Export-led development is the government’s top priority,” highlighting efforts to strengthen the economy. While forex reserves saw a minor dip, the rise in exports signals a positive trend for Pakistan’s financial stability.
Also read;Pakistan foreign reserves surpass $20bn, SBP reports
