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Agri credit increases by 38pc in 3 months: SBP KARACHI: Agriculture credit disbursement surges by 38% to Rs 98 billion in the first quarter of FY14. During the first quarter of current fiscal year (Jul- Sep 2014) the banks have disbursed Rs 98.1 billion which is 20% of the overall annual target of Rs 500 billion; 38% higher than disbursement of Rs 70.8 billion made during the corresponding period last year, said statement issued by State Bank of Pakistan (SBP) here on Tuesday.The outstanding portfolio of agriculture loans has increased by Rs 36 billion i.e. from Rs 270 billion to Rs 306 billion at end of Sept. 2014 as compared to same period last year.Amongst the major banks Allied Bank Limited (ABL) and United Bank Limited (UBL) have achieved 24.7% each of their annual targets. HBL achieved 23.1% and Muslim Commercial Bank (MCB) achieved 20.0% of its individual annual targets.Under the specialized banks category Zaraee Tarqiatee Bank Limited (ZTBL) ...

SBP issues guidelines to strengthen internal controls in payment instruments KARACHI: State Bank of Pakistan (SBP) has issued the guidelines to banks and micro-finance banks for strengthening internal controls in payment instruments.SBP's has issued these guidelines in view of the inherent operational risks in processing, cancellation and issuance of payment order, demand draft, cash deposit receipt or banker's cheque ( collectively referred as the payment instruments), said SBP release here on Monday.Now, banks/MFBs shall strictly observe the following controls in addition to those already in ...
Pak forex reserves enhance to $ 13.43509bn KARACHI: Total liquid foreign reserves of the country increase to dollars 13.43509 billion, said State Bank of Pakistan (SBP). SBP's weekly statement here on Thursday said that the foreign reserves held by State Bank on October 10, amounted to $ 8.88201 billion and the net foreign reserves held by other banks figured $ 4.55308 billion. During the week ending Oct. 10, SBP's liquid foreign reserves increased by $ 25 million to $ 8,882.1 million compared ...
SBP may outright purchase or sale of Ijara Sukuk (GIS) as part of open market operations ISLAMABAD: The State Bank of Pakistan (SBP) has decided that it may outright purchase or sale Government of Pakistan Ijara Sukuk (GIS) either on deferred payment basis (Bai-Muajjal) or on ready payment basis through Open Market Operations (OMOs) based on multiple price competitive bidding auction process.This initiative has been taken by the Central bank in order to facilitate Islamic Banking industry in their liquidity management and more effective transmission of monetary policy, a statement of ...
Overseas Pakistanis remit $4.69bn in 3 months KARACHI: Overseas Pakistanis remitted an amount of $ 4694.69 million in first three months of current fiscal year (FY15) ; showing an impressive growth of 19.52 percent compared to $ 3927.94 million received during the same period of the last fiscal year (FY14), says State Bank of Pakistan.SBP statement here Wednesday said, the inflow of remittances during September 2014 from Saudi Arabia, United Arab Emirates (UAE), United States of America, United Kingdom, GCC countries (including ...
More than 80pc tax target achieved FAISALABAD: Regional Tax Office has achieved more than 80 percent of the recovery target set for the first quarter of 2014-15.Regional tax office source said on Wednesday that Federal Board of Revenue had fixed recovery targets for Regional tax office Faisalabad including Rs. 3992 million income tax, Rs. 1750 million Sales Tax and Rs. 51.100 million Federal Excise duty.Regional tax office recovered Rs. 78.944 million Federal Excise Duty which exceeds the target set.It also got ...
Pak forex increase to $ 13.40008bn KARACHI: The total liquid foreign reserves of the country increase to dollars 13.40008 billion , said State Bank of Pakistan.According to SBP's weekly statement here on Thursday, the foreign reserves held by State Bank on Oct.3, amounted to dollars 8.85702 billion against the previous weekly balance of $ 8.60908 billion. The net foreign reserves with other banks figured at $ 4.54306 billion against $ 4.60007 billion.During the week ending on October 3, SBP received $ ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln