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foreign exchange

Pakistan’s foreign exchange reserves reach record $21.4 Billion

by
Pakistan’s foreign

ISLAMABAD: Pakistan’s foreign exchange reserves have reached a record $21.4 billion, Prime Minister Shehbaz Sharif said, describing the development as a historic milestone toward economic stability.

Sharif expressed gratitude over the increase in the country’s reserves and said the stronger economic position would open new avenues for investment and sustainable economic growth.

He said the rise in foreign exchange reserves would enhance Pakistan’s ability to withstand global economic challenges and strengthen its capacity to meet external payment obligations.

The prime minister also praised Finance Minister Muhammad Aurangzeb, the economic team and overseas Pakistanis for their contributions to strengthening the country’s foreign exchange position.

Pakistan’s freelancers earn over $950m foreign exchange in 10 months

by
Pakistan’s freelancers

KARACHI: Pakistani freelancers earned more than $950 million in foreign exchange during the first 10 months of the current fiscal year despite facing multiple local and global challenges, according to official data.

The State Bank of Pakistan said earnings from computer and information services through freelancing reached $959 million during July 2025 to April 2026, compared to $642 million in the same period last fiscal year.

This reflects a year-on-year increase of 49%, or $317 million, highlighting strong growth in the country’s digital services exports.

During the period, Pakistani freelancers reportedly outperformed counterparts in countries including India, China and the United Arab Emirates, according to industry sources.

Pakistan Freelancers Association President and CEO Dr. Imran Bataada said the rise in earnings was driven by increased participation of Pakistani freelancers on global platforms such as Upwork, Fiverr and social media-based work channels.

He said growing awareness of freelancing in Pakistan over recent years has enabled a large number of individuals to acquire skills through online learning, private institutions, government training programs and NGO initiatives.

Bataada, a five-time Global CIO Award winner, said he has trained more than 25,000 freelancers.

He added that Pakistan’s freelancing community now comprises around 3 million people and urged stronger collaboration between the government, banking sector and other stakeholders to further expand the sector in a structured manner.