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Last update: Sat, 01 Oct 2016 04am

Banking & Finance

Pakistan - Banking & Finance

Pak forex figure $ 23.418bn KARACHI: Total liquid foreign exchange reserves of the country stand at dollars 23.418 billion, said State Bank of Pakistan. SBP's weekly statement here on Thursday said the foreign reserves held by State Bank on Sept. 23, were $18,395.1 million and the net foreign reserves held by the Commercial Banks amounted $ 5,022.9 million.During the week, SBP's liquid foreign exchange reserves increased by $ 738 million to $ 18,395 million as compared to $ 17,657 million in the previous week.The increase in reserves is mainly attributed to Government of Pakistan inflow of $ 700 million from China Development Bank.Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Banking & Finance

Finance Ministry strongly contradicts news item of freezing foreign currency accounts ISLAMABAD: A spokesman of the Ministry of Finance here on Thursday strongly contradicted a news item appeared in a section of English press that government was considering freezing of foreign currency account.The spokesman said that the news item titled "Government considers freezing foreign currency accounts" which appeared in a section of English press September 29 (Thursday) comprised false statements and concoctions which have no ground."No such suggestions to freeze foreign currency accounts in the country ...

Pakistan - Banking & Finance

SBP sells Rs 27.573 bn MTBs KARACHI: State Bank of Pakistan (SBP) Wednesday sold Government of Pakistan market treasury bills (MTBs) of Rupees 27.573 billion; with the face value of Rs 28.392 billion.SBP had invited the bids for the MTBs with maturity periods of 3,6 and 12-months through its Primary Dealers, said a SBP statement.Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Banking & Finance

More than 7,000 farmers registered to get interest-free loans LAHORE: More than 7,000 farmers have been registered by Land Record Management Information System (LRMIS) during first eight days to get interest-free loans through smart phones, under mobile-assisted farming initiative started by the Punjab government.According to the official sources of LRMIS, the registration process was started on Sept 19 at all the land record centres working in 144 tehsils.In the first phase, an amount of Rs 80 billion will be distributed among the farmers while ...

Pakistan - Banking & Finance

Pakistan to start roadshows Thursday for dollar sukuk ISLAMABAD: Pakistan will start investor roadshows on Thursday for a potential sale of US dollar-denominated Islamic bonds, aiming to begin the pricing and book-building process next week, the Ministry of Finance said on Wednesday. If successful, the deal would mark Pakistan's return to the international sukuk market after a two-year absence. It last raised $1 billion via sukuk in late 2014.Investor meetings will start on Thursday in the United Arab Emirates before moving to London ...

Pakistan - Banking & Finance

Rs3.5mn recovered during campaign against tax defaulting vehicles KARACHI: Sindh Minister for Excise and Taxation and Anti-Narcotics, Mukesh Kumar Chawla has said that a total Rs 3.5 million have been recovered in terms of tax on vehicles during the Road Checking Campaign against tax defaulting vehicles.He said that the ongoing campaign will end in the metropolis tomorrow (September 29) while it has ended in Sindh region today (September 28).The Minister said this while addressing a meeting about the Road Checking Campaign against tax ...

Pakistan - Banking & Finance

FBR collects Rs 550 billion revenue till Sept 27 ISLAMABAD: The Federal Board of Revenue (FBR) has made a net collection of over Rs 550 billion during current fiscal year till September 27 as against the net collection of Rs 500 billion made during same period last year, thus showing an increase of 10 percent.Talking to APP here Wednesday, spokesman of FBR, Dr. Muhammad Iqbal said the target for the current month has been achieved. It is expected that the collection would further increase, ...