SBP - Banking Sector / Federal Board of Revenue

“Against this uncertain environment, the SBP is likely to maintain the status quo, preferring to wait and see how geopolitical developments unfold before adjusting policy,” said AHL.

The report shared that the outbreak of conflict in the Middle East has already pushed crude prices higher, which, if sustained, could weigh heavily on Pakistan’s external account, given the country’s reliance on imported energy.

“Estimates suggest that every $10 per barrel increase in oil prices could widen the current account deficit by around $2 billion annually. Headline inflation may also rise by roughly 0.4% directly, while indirect effects could be larger, pushing CPI further above the medium-term target range of 5-7%,” it said.

On the other hand, remittances from GCC countries, which account for roughly 50-55% of Pakistan’s total inflows, may provide some near-term support.
 

SBP holds policy rate at 10.5% amid Gulf war​


Oil shock, Middle East tensions dominate MPC outlook

Usman HanifMarch 09, 2026

KARACHI: The State Bank of Pakistan (SBP)'s Monetary Policy Committee (MPC) has decided to maintain the policy rate unchanged at 10.5% following its meeting on March 9, 2026. The decision aligns closely with market expectations and recent analyst surveys amid heightened regional geopolitical tensions.

The hold comes as the second MPC meeting of the calendar year 2026, following the January 26 meeting, where the rate was also kept steady at 10.5% despite earlier expectations of easing.

The latest stance reflects caution over potential imported inflation pressures from surging global energy prices, triggered by the US-Iran tensions that have driven Brent crude up sharply to around $108 per barrel. Following the suit, the Pakistani government also increased petrol prices by Rs55 per litre, bringing the new price to Rs321.17 per litre.
 
A pre-MPC survey by Topline Securities (released March 6, 2026) captured strong consensus for status quo: 92% of respondents had anticipated no change to the policy rate, a notable shift from the January poll, where many had expected cuts.

Key factors cited included a 25% spike in Brent oil prices and corresponding global diesel price jumps of 37-49%, raising concerns for oil-import-dependent Pakistan.

62% of survey participants expected the regional turmoil to persist for 2-5 weeks. Market reactions showed caution, with 58-85 bps increases observed in 6-month T-bill and KIBOR yields leading up to the decision.

Looking ahead, 60% foresaw the policy rate remaining at 10% (or close to current levels) by June 2026, while 58% projected average CPI inflation around 7% and PKR/USD stability in the 280-285 range. However, prolonged conflict could exacerbate currency pressures, fuel inflation, and potentially force future rate adjustments upward if imported cost pressures intensify.

This cautious pause is seen as support for ongoing macroeconomic stability efforts, building on prior rate reductions (including the 50 bps cut to 10.5% in December 2025), while allowing time to monitor energy price dynamics, domestic inflation trends, and external account resilience.

The SBP emphasised in its previous many PMC statements a balanced approach to safeguarding price stability while nurturing sustainable growth recovery.
 

SBP facilitates teenagers to open bank accounts, digital wallets​


Launches new framework to empower youth to save securely and develop responsible financial habits

Web Desk
April 01, 2026
state bank of pakistan photo file


The State Bank of Pakistan (SBP) said on Wednesday it has launched a new framework for teenagers’ accounts, enabling them to independently own and operate bank accounts and digital wallets.

In a press release, the SBP outlined the key features of the initiative, emphasising the goal of fostering a financially literate, digitally adept generation. "The framework is designed to empower the country’s youth to save securely, transact confidently and develop responsible financial habits," the SBP stated.

While adult account ownership in Pakistan has surged to 67%, teenagers have traditionally been confined to joint or parent-controlled accounts, limiting their financial engagement and learning. The new framework aims to fill that gap by providing Pakistan’s 26 million teenagers, aged 13 to 18, with the tools to save securely, transact confidently, and develop responsible financial habits, the SBP said.
 


National Bank of Pakistan launches WhatsApp banking service​

News Desk
April 2, 2026

The National Bank of Pakistan (NBP) announced on Thursday that it had launched its WhatsApp banking service to enhance customers’ convenience.

“NBP proudly announces the launch of its WhatsApp Banking service, marking a significant step forward in delivering seamless, accessible, and customer-centric digital banking solutions,” according to an official statement.

“With the new service, NBP customers can now conveniently access essential banking features through WhatsApp, one of the most widely used messaging platforms in the country,” it said.
 

Contraband worth Rs2bn seized​

The Newspaper's Staff Reporter
April 5, 2026

ISLAMABAD: The Collectorate of Customs Enforcement Karachi conducted 77 anti-smuggling operations in March, seizing contraband goods worth Rs1.8 billion.

The volume of seizures recorded during the month was nearly four times higher than the average monthly performance, according to an official announcement issued by the Federal Board of Revenue (FBR) on Saturday.
 
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