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SBP extends deadline for FICF proposals to April 25 KARACHI: State Bank of Pakistan has extended the deadline up to April 25 for submission of proposals under financial innovation challenge fund's (FICF) 2nd challenge round on " promoting rural and agricultural finance in Pakistan."The 2nd challenge round was unveiled on March 6, 2014 in Islamabad , said a SBP statement here on Monday.FICF is component of the larger financial inclusion program being implemented by State Bank under the funding assistance of the United Kingdom (UK) Aid. The objective of the 2nd round is to pilot innovative products and delivery channels through development of new technological and infrastructure solutions in the areas of rural and agricultural finance.The guidelines for 2nd challenge round is available at, the deadline for submission of quality proposals by the potential applicants was April 10.Copyright APP (Associated Press of Pakistan), 2014 ...

Rs15000 bond draw on Tuesday FAISALABAD: The 58th allotting of prize bonds worth Rs15000/- each will be held at Rawalpindi on Tuesday (April 01).According to a spokesman of the National Savings, the first position holder will get a prize of Rs30 million, while 3 prizes of Rs10 million each have been reserved for the second position holders. Third prize of Rs1.85 lakh will be awarded to each of the 1696 position holders, it was added.Copyright APP (Associated Press of Pakistan), ...
Govt. invests Rs2,560bn in various saving schemes: NA told ISLAMABAD: The government had invested Rs2560 billion in different National Saving Schemes (NSSs) till January 31, Rana Muhammad Afzal Khan apprised the Lower House on Wednesday.To a query raised by Nighat Parveen Mir, he said that the government had taken a number of adequate measures for the improvement in saving schemes.According to the detail, the government had launched the Prize Bonds of Rs25,000 denomination, Short Term Savings Certificate (STSCs) and Student Welfare Prize Bonds (SWPB) ...
CDNS mobilizes Rs.386 billion savings during July 12 to June 30, 2013 ISLAMABAD: The Central Directorate of National Savings (CDNS) had mobilized Rs 386 billion savings during July 12, 2012 to June 30, 2013 against the target of Rs 224 billion.An official of CDNS giving breakups of five years achievements of the Central Directorate of National Savings told APP that during financial year 2007-08 Rs .89,460.81 million savings were made against the target of Rs.90,570.00 million achieving a target of 99 percent.Similarly during the financial year 2008-09 ...
Higher agriculture credit disbursement by banks during July-February: SBP ISLAMABAD: Against the agriculture credit target of Rs. 380 billion for FY 2013-14, banks disbursed Rs. 218.3 billion during July-February, 2014 which is 57.4pc of the annual target."The disbursement is 11.0pc higher than Rs. 196.1 billion disbursement during the corresponding period last year. The outstanding portfolio of agri. loans has increased by Rs. 39.3 billion (16.8pc) i.e. from Rs. 234.1 billion to Rs. 273.4 billion at end February, 2014 as compared to same period last ...
Pakistan's Liquid Foreign Reserves reaches US $ 10 billion ISLAMABAD: The total liquid foreign reserves held by the country stood at $9,648.9 million on Mar 14, 2014.Giving the break-up of the foreign reserves position, a statement of the Central Bank issued here on Thursday said that Foreign reserves held by the State Bank of Pakistan stood at $4,808.5 million while the Net foreign reserves held by banks stood at $4,840.4 million.The SBP said that during the week ending Mar 14,2014, the Banks's Liquid FX ...
New structural economic reforms will help enhance revenues: Salman Shah ISLAMABAD: New structural economic reforms are needed to enhance revenues, ensure better utilization of funds and grants in order to bring economy on right track.These views were expressed by Salman Shah, financial expert and former Finance Minister in an interview on PTV.He said recently a Muslim friendly country had given financial assistance which would be helpful in improving fiscal and financial aspects of the economy.He said due to borrowed funds, country's external liabilities had increased ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln