The Asian Development Bank (ADB) has released a report on Pakistan’s economic situation, stating that despite improvements, risks remain in the country’s economy. The report predicts a 3.5% GDP growth rate for the current fiscal year, with a potential increase to 4.5% in the next fiscal year. The ADB report warns of potential economic pressure due to rising tensions in the Middle East, with expected inflation rates of 6.4% in 2026 and 6.5% in 2027.
The report emphasizes the need for continued reforms to tackle external shocks, with a focus on increasing private investment, improving the construction and manufacturing sectors, and adopting a more cautious monetary policy by the State Bank. The Pakistan Stock Exchange (PSX) has released its weekly update, with the KSE 100 index rising by 11% over the past week.
Gold prices have fluctuated in the domestic market, with prices increasing on Monday after a decline on Saturday. The Lahore Stock Exchange (LE) has also seen a decline in prices, with the LE 100 index closing at 1,51,673 points on Saturday.
The State Bank has announced a decline in remittances, with a 16.5% monthly decrease and a 5.5% annual decrease. Industry sources indicate a 15% decrease in crude oil prices. The All Pakistan Sarafa Jewellers Association reports that the price of gold has increased by Rs. 15,700 per tola, reaching Rs. 504,162.
Gold prices have decreased after a slight increase, with the PSX closing at 1,51,673 points on Saturday. The government has sought public and shareholder opinions on the matter. The KSE 100 index has seen an increase due to the rise in benchmark indices, with Saudi Arabia and Qatar agreeing to provide Pakistan with a $5 billion financial aid package.
The Pakistani military contingent has arrived in Saudi Arabia under the Strategic Defense Agreement. The Russian Foreign Ministry has expressed concern over US-Iran talks in Islamabad. US President Donald Trump has announced the start of the process to clear the Strait of Hormuz. The statement highlights the discussion on key regional issues during the meeting.
In cricket news, Babar Azam has equalled the record for the most partnership in T20 cricket, sharing a record partnership with a teammate.
