Banking sector grows 15.8pc in 2024, NPLs decline: SBP

KARACHI: Pakistan’s financial system maintained its stability and operational strength in 2024 despite global headwinds, as improved macroeconomic conditions and regulatory safeguards helped curb credit risks and bolster capital buffers, the State Bank of Pakistan (SBP) said in its annual Financial Stability Review (FSR) released on Thursday.

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Pakistan closes border, airspace to India, warns of ‘act of war’ over water treaty

ISLAMABAD: Pakistan announced a sweeping set of retaliatory measures against India on Thursday, including the immediate closure of the Wagah border crossing, shutting down its airspace for Indian airlines and the suspension of multiple bilateral agreements, in response to what it called “unilateral, unjust, politically motivated, highly irresponsible, and illegal” actions by New Delhi.

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World Bank cuts Pakistan’s growth forecast, urges structural reforms

ISLAMABAD: The World Bank has trimmed its growth forecast for Pakistan to 2.7 percent for fiscal year 2025, a slight dip from its previous estimate of 2.8 percent, signaling that without sweeping structural reforms to bolster private investment and export strength, the country’s economic and poverty woes will persist.

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Grunge flags of India and Pakistan divided by barb wire illustration, concept of tense relations between India and Pakistan

Pakistan calls security meeting after India suspends water treaty over Kashmir attack

ISLAMABAD: Prime Minister Shehbaz Sharif has called an urgent meeting of the National Security Committee, a body of top civil and military leaders, for Thursday to address India’s retaliatory measures following a deadly militant attack in occupied-Kashmir that New Delhi has linked to Pakistan-based groups.

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