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SBP Reserves Increase
CategoriesNews Economy

SBP Reserves Increase by $16 Million Amid Stable External Position

KARACHI: Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) rose modestly by $16 million during the week ended February 20, 2026, reaching $16.21 billion, according to official data released on Thursday. The marginal increase reflects continued stability in the country’s external account position amid ongoing economic management efforts.

With the latest rise, Pakistan’s total liquid foreign exchange reserves stood at approximately $21.41 billion. Of this amount, around $5.2 billion is held by commercial banks, while the remaining balance is maintained by the central bank. The weekly uptick, though small in magnitude, indicates a steady reserve position supported by controlled external payments and stable inflows.

Foreign exchange reserves play a critical role in maintaining macroeconomic stability. They provide a cushion against external shocks, support the national currency, and enable the country to meet its import and external debt obligations. Analysts note that maintaining reserves above the $16 billion mark at the central bank level offers investors and international stakeholders monitoring Pakistan’s financial health a degree of confidence.

The recent trend of incremental increases suggests that the central bank’s reserve management strategy is yielding gradual improvements. While the $16 million rise does not represent a significant surge, it signals stability at a time when global economic conditions remain uncertain and emerging markets continue to face external pressures.

Economic observers emphasize that sustained growth in reserves over the coming weeks will be essential to strengthen market sentiment and reinforce exchange rate stability. Continued inflows from exports, remittances, and multilateral financing arrangements are expected to further bolster the country’s foreign exchange position.

The SBP releases foreign reserve data weekly to provide transparency and keep markets informed about developments in the external sector.

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CategoriesNews Developments Economy Investment Urban Developments & Planning

Pakistan Moves to Revive Roosevelt Hotel with $5 Billion Investment

ISLAMABAD: Pakistan is aiming to secure up to $5 billion in investment to redevelop the Roosevelt Hotel in New York City, as part of efforts to maximize returns from one of its most valuable international properties.

Government officials indicate that a financial adviser will soon be appointed to design the investment structure and engage potential global partners for the redevelopment initiative. The Roosevelt Hotel, located in Manhattan’s Midtown district and owned by Pakistan International Airlines (PIA), has been closed since 2020 due to prolonged financial challenges during the pandemic.

Built in 1924, the landmark property is located in a globally significant commercial area. Authorities are exploring plans to convert the site into a large-scale mixed-use or high-rise development through a joint venture. Under this model, Pakistan would retain ownership of the land while private investors would contribute the required capital.

The move follows a cooperation framework agreed between Pakistan and the United States to support the redevelopment process and help navigate regulatory and zoning procedures in New York. Officials consider the project an important component of broader reforms aimed at restructuring state-owned assets, attracting foreign direct investment, and expanding economic collaboration between the two countries.

The proposed redevelopment aligns with Pakistan’s wider economic reform agenda and ongoing financial stabilization efforts. Analysts believe that, if executed effectively, the project could substantially increase the property’s market value and generate sustainable long-term revenue.

Despite optimism, observers note that the initiative’s outcome will depend on investor participation, clear financial planning, and efficient execution, as several key financing and timeline details remain under discussion.

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CategoriesNews Urban Developments & Planning

CDA Clears Urban Renewal Framework for Kachi Abadis

ISLAMABAD: The Capital Development Authority (CDA) has approved a comprehensive urban regeneration plan aimed at upgrading recognised kachi abadis across the Islamabad Capital Territory. The decision was taken during a CDA Board meeting chaired by Chairman and Chief Commissioner Islamabad Muhammad Ali Randhawa.

The approved framework introduces new regulations focused on the regularisation, improvement, and possible relocation of informal settlements under an organised urban development strategy. The initiative is intended to integrate recognised kachi abadis into Islamabad’s formal planning system while improving living conditions for residents.

Under the plan, only individuals verified as residents through official surveys conducted up to December 31, 2002, will be eligible to benefit from the programme. The CDA Planning Wing will carry out fresh surveys of the settlements to prepare updated layout plans and development proposals.

The regeneration process will include infrastructure upgrades and the provision of essential municipal services. Planned improvements cover road and street development, rehabilitation works, and measures aimed at enhancing access to basic urban facilities within these communities.

Officials stated that the initiative aligns with legal provisions under the CDA Ordinance 1960 and follows directives issued by the Supreme Court to regulate informal housing areas through structured planning measures.

The approved measures form part of broader efforts to promote planned urban growth and improve civic infrastructure across Islamabad while addressing long-standing issues related to informal settlements.

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CategoriesNews Economy Property Laws Real Estate Taxes

Balochistan Revenue Authority Mandates Registration of Property Dealers

QUETTA: The Balochistan Revenue Authority (BRA) has directed property dealers, real estate agents, and related service providers across the province to register with the tax authority and comply with the newly enforced sales tax regulations, according to an official announcement issued recently.

Under the directive, individuals and businesses engaged in services related to the buying, selling, and renting of immovable property are required to obtain formal registration with the BRA and ensure the timely submission of tax returns for each applicable tax period. The authority has introduced a 5% sales tax on property-related services in accordance with amendments made by the Finance Act 2025 under the Balochistan Sales Tax on Services Act, 2015.

Officials stated that the measure aims to improve transparency and documentation within the real estate sector, which has historically remained under-regulated in terms of tax compliance. By bringing property service providers into the formal tax framework, the government expects to strengthen provincial revenue collection while promoting accountability in property transactions.

The BRA has warned that failure to comply with the registration and tax payment requirements may result in penalties, legal proceedings, or enforcement actions under relevant tax laws. Authorities emphasized that unregistered agents or those who fail to submit returns could face strict action as part of broader efforts to ensure adherence to fiscal regulations.

Tax officials noted that the initiative is part of ongoing reforms aimed at expanding the tax base and reducing revenue leakage in the service sectors. Stakeholders in the real estate industry have been urged to cooperate with the authority and complete registration procedures promptly to avoid disruptions to their business operations.

The development reflects increasing regulatory oversight of Pakistan’s property market as provincial governments seek sustainable revenue sources amid growing fiscal pressures.

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CategoriesNews Taxes

AJK Launches ‘Tax Asaan’ Mobile App to Digitise Revenue Services

MUZAFFARABAD: The government of Azad Jammu and Kashmir (AJK) has launched the Tax Asaan mobile application, a digital platform designed to simplify tax-related services and improve interaction between taxpayers and the revenue department.

The application was introduced as part of broader efforts to modernize the region’s tax administration through technology-driven solutions. Officials stated that the platform enables users to access a range of services through their mobile devices, including verification of sales invoices, viewing registration records, checking tax return details, making online payments, and monitoring the status of applications.

Alongside the mobile app, authorities also introduced a digital monitoring system aimed at strengthening oversight of revenue collection. The system is intended to support administrative planning and enhance efficiency by providing real-time data and performance tracking tools for officials.

The initiative builds upon earlier digital reforms introduced within the tax system, including electronic invoicing mechanisms, and is aimed at improving transparency and reducing procedural delays. By shifting key services online, the government seeks to make tax compliance more accessible while streamlining operational processes within the revenue department.

Officials noted that the introduction of digital platforms is expected to improve service delivery and facilitate easier compliance for taxpayers across AJK. The move reflects ongoing efforts to adopt modern administrative practices and strengthen revenue management through the use of technology.

The Tax Asaan application is now available for public use, marking another step toward digitisation of government services in the region.

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CategoriesNews Economy

IMF Acknowledges Pakistan’s Economic Stabilisation Following Reform Measures

ISLAMABAD: The International Monetary Fund (IMF) has acknowledged a notable improvement in Pakistan’s economic conditions, citing policy reforms implemented under the country’s ongoing IMF-supported programme.

According to IMF Communications Director Julie Kozack, Pakistan’s recent policy efforts have contributed to macroeconomic stabilisation and helped restore confidence in financial markets. The assessment comes as the country continues to implement reforms under the Extended Fund Facility (EFF).

The IMF highlighted Pakistan’s strengthened fiscal performance, noting that the country achieved a primary fiscal surplus of approximately 1.3 percent of GDP in fiscal year 2025, meeting programme targets. Improved revenue collection and tighter fiscal discipline were identified as key factors behind the progress.

Pakistan’s external sector has also shown signs of recovery, with the country recording its first current account surplus in over a decade. The development signals reduced pressure on foreign exchange reserves and improved balance-of-payments stability.

Inflation, which surged during the recent economic crisis, has begun to moderate, reflecting the impact of monetary tightening and stabilisation measures. IMF officials emphasised that these trends indicate a gradual easing of macroeconomic pressures.

An IMF mission is expected to visit Pakistan later this month to conduct programme review discussions, including assessments under both the Extended Fund Facility and the Resilience and Sustainability Facility.

Despite recognising the progress, the IMF stressed the importance of maintaining reform momentum. Continued fiscal discipline, structural reforms, and prudent economic management will be essential to sustaining stability and supporting long-term growth.

The Fund described Pakistan’s recent performance as a shift toward economic stabilisation rather than a full recovery, underscoring the need for consistent policy implementation in the months ahead.

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Umrah Prices Rise Sharply
CategoriesNews Economy Ramadan

Umrah Prices Rise Sharply as Pilgrims Rush to Book Flights for Ramazan

LAHORE: With the commencement of Ramazan, the holiest month for Muslims, demand for Umrah travel has risen sharply, leading to a significant increase in airfare prices. Umrah, a pilgrimage to Mecca, Saudi Arabia, is a highly anticipated spiritual journey, especially during Ramazan, when many Muslims aim to complete their religious obligations.

The surge in demand has led to a noticeable increase in airline ticket prices, with domestic and international airlines raising fares. Reports indicate that business-class tickets, which were previously priced at around Rs 425,000–Rs 450,000, have now risen to an astonishing Rs 500,000. Similarly, economy and economy-plus tickets, which were available at rates of Rs 130,000–Rs 140,000 earlier, are now being sold at Rs 180,000–Rs 200,000. This price hike has left many pilgrims struggling to accommodate the rising costs in their travel budgets.

Travel agents attribute this surge to the seasonal rush, as many pilgrims prefer to undertake the journey to Mecca during the holy month of Ramazan. The influx of bookings, especially for flights departing in the early and later Ashra, or the ten-day periods, has led to limited seat availability. Consequently, airlines have raised fares to capitalize on the growing demand. Many flights are now fully booked, and only a few seats remain, often at premium prices.

For some pilgrims, this unexpected rise in airfares has made it more difficult to plan their pilgrimage. Families who had previously booked tickets months in advance at lower rates are now finding it difficult to cover the additional financial burden caused by the fare surge.

As the holy month progresses, the situation may become more challenging for individuals and families looking to embark on their spiritual journey, further underscoring the trend of rising airline costs during peak travel seasons.

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CategoriesNews Ramadan

Rawalpindi Enhances Security Measures Ahead of Ramazan

RAWALPINDI: Rawalpindi’s law enforcement agencies have implemented additional security measures in preparation for Ramazan, focusing on maintaining public safety and order during the holy month. The decision was made following a meeting of the Regional Police Coordination Committee, chaired by Regional Police Officer (RPO) Rawalpindi, Syed Khalid Mahmood Hamdani.

The newly outlined security plan includes specific measures for Taraweeh prayers and other religious gatherings, ensuring proper security arrangements are in place at these key events. The authorities will also increase surveillance of sensitive installations across the city and enhance overall security presence in vulnerable areas.

As part of the security strategy, police will conduct search and combing operations throughout Rawalpindi to ensure the safety of residents and visitors. The coordination between law enforcement agencies will be strengthened to improve response times and enforcement efficiency. Additionally, the official complaint portal will be used to address any public concerns promptly.

The police have been tasked with managing traffic flow to ensure smoother movement of vehicles, particularly in high-traffic areas, and protecting tourists in the Murree region.

RPO Hamdani stressed that the protection of citizens’ lives and property remains the primary objective, and all police units are on heightened alert during the month of Ramazan. These comprehensive security efforts aim to ensure a peaceful environment throughout the month and enhance public confidence in law enforcement.

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CategoriesNews Ramadan

Ramadan Office Hours Notified for Federal Constitutional Court

ISLAMABAD: The Federal Constitutional Court has announced revised office timings for the month of Ramadan. The schedule, approved by the Chief Justice, will be implemented across court offices located in Islamabad, Lahore, Karachi, Peshawar, and Quetta.

According to the official notification, court offices will operate from 9:00 am to 2:00 pm from Monday through Thursday. On Fridays and Saturdays, working hours will be observed from 9:00 am to 12:30 pm. These timings will remain effective for the duration of Ramadan.

The notification further states that routine cases will not be accepted during the final hour before the close of business each day. However, arrangements have been made to allow urgent or emergency matters to be filed outside regular office hours, where required.

The revised schedule is part of administrative measures introduced to adjust working hours during the holy month while ensuring continuity of court operations. Legal practitioners, litigants, and other stakeholders have been advised to take note of the updated timings to avoid inconvenience.

Court offices in the specified cities will follow the notified schedule until further instructions are issued.

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CategoriesNews

Rawalpindi Kachery Chowk Project Reaches 64% Completion

ISLAMABAD: Construction work on Rawalpindi’s multi-billion-rupee Kachery Chowk traffic improvement project has reached approximately 64 percent completion, according to officials from the Punjab Communication and Works Department. The scheme is aimed at converting one of the city’s busiest intersections into a signal-free junction to improve traffic flow.

The project includes the construction of two major flyovers and three underpasses, along with extensive utility relocation and infrastructure upgrades. Structural work on the main flyovers and underpasses has been completed, while finishing activities such as earth filling and placement of utility services are currently in progress.

Several utility agencies, including IESCO, PTCL, and SNGPL, are coordinating efforts to relocate power lines, telecommunications cables, and gas pipelines to support the development. Authorities have confirmed that electricity pylons are being shifted to facilitate the next phase of construction.

In addition to the ongoing works at Kachery Chowk, three more underpasses are planned along Peshawar Road as part of an extended signal-free corridor project. Construction on this segment is expected to begin next month, with an estimated cost of around Rs8 billion. The expansion is intended to ease congestion on one of Rawalpindi’s busiest traffic arteries.

The Kachery Chowk junction connects Old Airport Road, Saddar, Jehlum Road, and Peshawar Road, handling more than 250,000 vehicles daily. Upon completion, the project is expected to reduce congestion, shorten travel times, and contribute to the development of a continuous signal-free route from Ammar Chowk to Motorway Chowk.

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