SBP Forex Reserves Rise By $21m To $19.681bn

SBP - The News Today - TNT
Islamabad:  Rising tobacco and nicotine use among Pakistan’s youth, especially around educational institutions, emerged as the central concern at a national review session on tobacco control held by the Aurat Foundation in Islamabad. Participants from Parliament, government departments, health organizations, and civil society warned that easy availability of cigarettes, vapes, nicotine pouches, and flavored tobacco near schools is creating a growing public health threat. The discussion also pointed to a noticeable increase in tobacco use among women, indicating a shifting trend. The session called for stronger legislation, faster policy action, and strict enforcement to counter the rapid spread of emerging nicotine products. Speakers emphasized that existing laws remain poorly implemented due to procedural delays, weak monitoring, and limited coordination between federal and provincial bodies. The need for clear parental awareness, community engagement, and better recognition of new nicotine products was highlighted as an essential part of early prevention. Officials noted that families and schools often remain unaware of modern products marketed to young people. Technical briefings identified major enforcement gaps and policy loopholes that allow the tobacco industry to expand its reach. Participants noted that companies are increasingly using social media trends, entertainment content, and youth-focused marketing to promote vaping in urban areas. Government representatives reaffirmed ongoing federal efforts to implement the Prohibition of Smoking and Protection of Non-Smokers Health Ordinance 2002 and to tighten regulations where required. Provincial representatives also announced plans to introduce new resolutions to strengthen tobacco control. Education sector officials raised alarms over the rise of nicotine products around private institutions and called for tougher regulatory checks. Regulatory authorities stressed the need for a broader social movement to counter tobacco use nationwide. Closing the event, the Aurat Foundation reiterated its commitment to evidence-based advocacy, cross-sector collaboration, and long-term public awareness initiatives aimed at building a healthier, tobacco-free society.

KARACHI: Pakistan’s foreign exchange reserves increased by $21 million over the past week, bringing the total to $19.681 billion.

According to experts, the reserves now cover the equivalent of 70 days’ worth of imports. However, under the International Monetary Fund (IMF) standards, reserves should equal ninety days of import cover.

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During the week, the SBP’s dollar reserves rose by $34 million to reach $14.3 billion. Meanwhile, commercial banks’ dollar deposits decreased by $12 million, falling to $5.3 billion.

Separately on Wednesday, the Senate Standing Committee on Finance has recommended that the power to determine the salary of the State Bank of Pakistan (SBP) governor withdrawn from the bank’s board and made subject to government approval. Senator Anusha Rehman called for legislation to formalise this recommendation.

According to details surfaced on Wednesday, concerns were also raised over an increase of Rs380 million in the salaries of officials at the Securities and Exchange Commission of Pakistan (SECP). The committee was informed that, as of October 2023, the SBP Governor’s monthly salary stood at Rs4 million, excluding other allowances and benefits. The committee has summoned the Governor to explain the details of the salary package.

Read more: Government To Declare Climate Emergency in Pakistan

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