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In a successful Treasury Bills auction, Pakistan saw significant yield reductions, with the government surpassing its Rs. 100 billion target by raising Rs. 283 billion, indicating strong market demand. The cut-off yields for 3-month, 6-month, and 12-month T-Bills notably decreased by up to 59 basis points, according to data from the State Bank of Pakistan.

Mari Petroleum Company Limited reports a noteworthy gas discovery at the Shewa-2 well in Khyber Pakhtunkhwa, confirming hydrocarbon potential in the Kawagarh formation alongside previously discovered Lockhart and Hangu formations. The successful drill reveals sustainable gas flow rates, marking a significant development in North Waziristan.

The Pakistani rupee continued its upward trend, gaining against the US Dollar for the sixth day, closing at 281.13. Despite recent gains, the rupee has seen a substantial decrease of over Rs. 109 against the greenback since April 2022.

Pakistan aims to elevate trade ties with Egypt, proposing a Preferential Trade Agreement to surge bilateral trade from $400 million to $4 billion. Led by Minister Dr. Gohar Ejaz, the delegation is actively promoting Pakistani companies in Cairo, aligning with the Look Africa Mission to foster economic cooperation and tap into shared potentials.

The Pakistani rupee continued its upward trend against the US Dollar for the fifth day, closing at 281.22 in the interbank market. Although it has faced a notable depreciation since April 2022, the rupee gained six paisas on the day, marking a positive move in the ongoing stability.

The Punjab government is set to provide free training for 10,000 individuals to become tourist guides, focusing on enhancing skills and promoting inclusivity. Conducted online by the Institute of Tourism and Hotel Management, the initiative aims to boost the tourism sector in the province.

Overseas Pakistanis sent a record $2.4 billion in remittances in December 2023, marking a significant 13.4% YoY increase, while remittances for the first half of fiscal year 2023-24 totaled $13.4 billion, down 7% from the same period last year.

Caretaker Chief Minister Mohsin Naqvi launches ‘Green Wheels,’ offering 10,000 interest-free electric bikes and rickshaws in Punjab, emphasizing sustainable transportation and banning fuel motorcycles in government procurement to promote environmental responsibility. The initiative reflects Punjab’s commitment to a cleaner future, with the rollout planned in the coming weeks.

The Pakistani rupee strengthened for the fourth day against the US Dollar, closing at 281.28 in the interbank market, though it has seen a significant decline since January 2023. Today, it showed mixed performance, gaining against some major currencies but losing ground against others.

The National Citrus Festival in Sargodha, hosted by the Federal Government and Punjab, spotlights Pakistan’s thriving citrus industry, attracting visitors nationwide and fostering economic growth. This event not only provides a platform for businesses but also aims to educate the public on citrus farming and sustainability, reinforcing a commitment to environmental responsibility.