Pakistani rupee hits new all-time low amid political turmoil, high global commodity prices

A man talks on the phone in front of a poster displaying US dollars at the currency exchange place in Lahore, Pakistan on May 16, 2019. (AFP/File)
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Updated 01 April 2022
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Pakistani rupee hits new all-time low amid political turmoil, high global commodity prices

  • Pakistan’s national currency has devalued by more than 16.6% during this fiscal year
  • Inflation in Pakistan increased by 12.7% in March, compared to 12.2% rise in February

KARACHI: Pakistan’s national currency on Friday closed the weekend trading session at a historic low of Rs184.09 against the US dollar, traders and analysts said, amid political turmoil, high global commodity prices and depleting foreign exchange reserves. 

Pakistan’s prime minister, Imran Khan, is facing mounting pressure from his political rivals to step down after the opposition alliance tabled a no-confidence motion against him in the country’s parliament late last month. 

Khan, who is facing tough opposition and has been abandoned by his coalition partners, remains defiant and has refused to resign. The crucial vote is expected to take place on Sunday.  

The Pakistani currency has lost its value by 4.2 percent or Rs7.6 against the greenback since January, while it has depreciated by more than 16.6 percent or Rs26.22 during this fiscal year, according to the Pakistani central bank's data.  

“Pakistan is at the crossroads experiencing deep-rooted political challenges due to no-confidence motion and external shocks amid high oil prices, increased economic vulnerability and flared risks for political and economic stability,” Adil Jilani, the head of Trust Securities and Brokerage's economic division, told Arab News. 

“This has deteriorated external account and Pakistani rupee that hit an all-time low to Rs184.09 against US dollar, dropping by 3.77 percent since March 1.” 

The current political turmoil has only spurred the pace of the Pakistani currency’s losing streak, which was already battling high import bills, mainly due to rising global commodities and declining foreign exchange reserves.   

Analysts said the depreciation of rupee was resulting in higher inflation in the country.   

“The rising dollar continues to contribute to the inflationary buildup in Pakistan,” said Abdul Azeem, the research head at the Spectrum Securities brokerage house. 

Inflation in Pakistan increased by 12.7 percent on a year-on-year basis in March as compared to an increase of 12.2 percent in February. On a month-on-month basis, it increased by 0.8 percent in March, compared to a rise of 1.2 percent in February, according to the data released by the Pakistan Bureau of Statistics on Friday.  

Analysts believe the Pakistani currency will remain under pressure, primarily due to the external balance-of-payment situation.   

“The rupee will remain under pressure due to current external payment situation and expanding current account deficit, as the country is facing inflow issues amid declining forex reserves,” Azeem said. 

Pakistan’s foreign currency reserves have declined by $2.91 billion to $12 billion due to repayment of external debts, including a major syndicated loan facility from China, according to the Pakistani central bank, which says the rollover of the syndicated facility was being processed.


Pakistan plans 3,000 EV charging stations as green mobility push gathers pace

Updated 14 January 2026
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Pakistan plans 3,000 EV charging stations as green mobility push gathers pace

  • Roadmap unveiled by energy efficiency regulator and a private conglomerate amid early-stage EV rollout
  • New EV Policy and related plans aim to install 3,000 EV stations by 2030, including 240 stations in current fiscal year

ISLAMABAD: Pakistan’s energy efficiency regulator and a private conglomerate have unveiled an approved roadmap to establish 3,000 electric vehicle (EV) charging stations across the country, state-run Associated Press of Pakistan (APP) reported on Tuesday.

The announcement comes as Pakistan looks to build out basic EV charging infrastructure, which remains limited and unevenly distributed, largely concentrated in major cities. Despite policy commitments to promote electric mobility as part of climate and energy-efficiency goals, the absence of a nationwide charging network has slowed broader EV adoption.

Pakistan’s EV ecosystem is still at a formative stage, with progress constrained by regulatory approvals, grid connectivity issues and coordination challenges among utilities, regulators and fuel retailers. Expanding charging infrastructure is widely seen as a prerequisite for scaling electric transport for both private and commercial use.

According to APP, the roadmap was presented during a meeting between Malik Group Chief Executive Officer Malik Khuda Baksh and National Energy Efficiency and Conservation Authority Managing Director and Additional Secretary Humayon Khan.

“Baksh ... in a meeting with Khan, unveiled the approved roadmap for establishing 3,000 electric vehicle charging stations across Pakistan,” APP reported. “Khan reaffirmed the authority’s full institutional backing and pledged to expand the initiative to 6,000 EV charging stations nationwide.”

The discussion reviewed hurdles delaying the rollout, including EV charger imports, customs duties, regulatory documentation and inter-agency coordination.

APP said Khan welcomed the proposal and sought recommendations for “internationally compliant EV charger brands,” while asking for a detailed “issue-and-solutions report within three days” to facilitate timely implementation of the national green mobility initiative.

Despite the issuance of 13 licenses by NEECA and the arrival of five EV charging units at designated sites, progress has been slowed by procedural bottlenecks, officials said. These include delays in electricity connections, prolonged installation of separate meters and pending no-objection certificates from power distribution companies and oil marketing firms, which continue to stall operational readiness.

Pakistan’s electric vehicle ecosystem is still in its early stages, with charging infrastructure far behind levels seen in more advanced markets. The government’s New Energy Vehicle Policy and related plans aim to install 3,000 EV charging stations by 2030, including 240 stations planned in the current fiscal year, but actual deployment remains limited and uneven, mostly clustered in major cities and along key urban corridors.

Despite regulatory backing, including the 2024 Electric Vehicles Charging Infrastructure and Battery Swapping Stations framework, progress has been slow. Many proposed stations have yet to become operational due to delays in grid connections and approvals, and public maps of nationwide charging coverage are not yet available.

Private players are beginning to install more chargers, and there are over 20 public EV charging points reported in urban centers, offering both slower AC chargers and faster DC options. However, such infrastructure is still sparse compared with the growing number of electric vehicles and the government’s long-term targets.