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Money and Banking: Pakistan


The rupee managed to sustain its levels against the dollar on the money market on Tuesday in the process of trading, dealers said. The rupee depicted no changes against the dollar for buying and selling at Rs 101.83 and Rs 101.84, they said.

The following were the revised rates of debt securities on Tuesday (July 28, 2015).

State Bank of Pakistan (SBP) has directed the banks and Microfinance Banks that recoveries under Credit Guarantee Scheme (CGS) for Small and Rural Enterprises may be reimbursed to SBP Banking Services Corporation BSC within 10 days. Earlier, banks and Microfinance banks were required to remit proportionate share of the Guarantee Scheme to State Bank within two working days.
Secretary Finance Dr Waqar Masood said that discussion with the International Monetary Fund (IMF) on eighth review of $6.64 billion Extended Fund Facility (EFF) would begin from today (Wednesday) in Dubai. Talking to media persons after a meeting of Senate Standing Committee on Finance, he said that the review would continue till August 6 in two rounds - technical level discussion to be followed by policy level talks from August 3. He added that talks would be held as per agreed performance criteria.
Senate Standing Committee on Finance has deferred approval of a bill designed to amend the Stock Exchanges Demutualization Act 2012 for extension in restriction period for issuance of the Trading Right Entitlement (TRE) certificates by stock exchanges for two days to allow re-vetting of law by authorities and to remove ambiguity during extension dates.
Accountability Court (AC) Hyderabad convicted Ghulam Mustafa Mallah in a banking case on Tuesday. According to a press release issued here, he was an employee of UBL, Khipro Branch, District Shanghar. The accused had embezzled and misappropriated bank accounts of private persons through, parallel banking. He was convicted to seven years rigorous imprisonment with fine.
Pakistan Tuesday received inflows over $336 million on account of Coalition Support Fund (CSF). State Bank of Pakistan's spokesman confirmed that an amount of $336.864 million has arrived in SBP account from US under CSF payment. This is the first inflows under CSF during this fiscal year (FY16), while another payment is expected in second quarter of this fiscal year.


Index Closing Chg%
Arrow DJIA 17,6630.27 1.09
Arrow Nasdaq 5,089.21 0.98
Arrow S&P 2,093.25 1.24
Arrow FTSE 6,555.28 0.77
Arrow DAX 11,173.91 1.06
Arrow CAC-40 4,977.32 1.01
Arrow Nikkei 20,328.89 0.10
Arrow H.Seng 24,503.94 0.62
Arrow Sensex 27,459.23 0.37

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln