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In November 2023, the country’s foreign direct investment increased by 12% to $131 million, with China leading as the top investor. The power sector attracted substantial investments, totaling $334 million in the first five months of fiscal year 2024.

Remittances from Pakistan’s IT and IT-enabled Services (ITeS) sector saw a 6% increase, reaching $1.152 billion in the first five months of the fiscal year 2023-24. The month-on-month rise in November and the year-on-year increase showcase positive momentum, aligning with the country’s strategy to boost IT exports to $10 billion, as unveiled by the Federal Minister for Information Technology and Telecommunications.

The Pakistani rupee extended its winning streak for the fifth day against the US Dollar, starting at 281 and closing at 283.21 in the interbank market. Despite minor fluctuations, the rupee exhibited strength, gaining approximately Rs. 1 intraday and showing resilience against other major currencies.

Pakistan borrowed $4.285 billion in the first five months of the fiscal year 2023-24, witnessing a 16% reduction from the previous year. Notable contributions came from Saudi Arabia, and while the IMF and other inflows were not reflected in the reported data, the total reached $6.485 billion, including funds for specific projects from China and other countries.

Pakistan’s petroleum production grew by 7.55% from July to October 2023-24, with high-speed diesel and furnace oil witnessing notable increases. However, jet fuel oil recorded a 13.02% decline during the same period, according to the Pakistan Bureau of Statistics.

Lahore’s first female Chief Traffic Officer, Ammara Athar, is launching dedicated driving centers for women to address challenges and boost confidence, fostering safer and more independent road navigation. The initiative aims to provide better training facilities and support for female learners in the city.

Farhan Faridi, Group Head at Jubilee Life Insurance, was honored with the Top 25 Companies Award by the Pakistan Stock Exchange for the fourth time. Jubilee Life’s consistent financial excellence and dedication to CSR initiatives set it apart as the sole insurance company recognized this year.

Daraz and NAVTTC have forged a groundbreaking partnership to empower aspiring entrepreneurs in Pakistan. With Daraz’s tailored e-commerce curriculum, students can embark on online ventures, marking a significant stride in fostering digital entrepreneurship.

The Pakistani rupee showed resilience, closing at 283.26 against the US Dollar after gaining 25 paisas in the fourth consecutive positive session. With State Bank reserves reaching $7.041 billion, investor confidence is bolstered ahead of the upcoming IMF Executive Board meeting on January 11.

The Pakistani government has reduced petrol and diesel prices to ease the burden on consumers amid a 43% year-on-year inflation rise. Petrol now costs Rs. 267.34 per liter, and diesel is priced at Rs. 276.21, effective from December 16.