08252016Thu
Last update: Thu, 25 Aug 2016 12am

Banking & Finance

Pakistan - Banking & Finance

Pakistan's Liquid Foreign Reserves Position KARACHI: The total liquid foreign reserves held by the country stood at US$ 23,091.4 million on July 15, says a statement of the State Bank of Pakistan here on Thursday.It said that the break-up of the foreign reserves position is as under: i) Foreign reserves held by the SBP: US$ 18,077.4 million ii) Net foreign reserves held by commercial banks: US$ 5,014.million iii) Total liquid foreign reserves: US$ 23,091.4 millionThe statement further pointed out that during the week ending July 15, 2016, SBP's Liquid FX Reserves decreased by US$ 27 million to US$ 18,077 million, compared to US$ 18,104 million in the previous week.It said that during the week, SBP made payments of US$ 63 million on account of external debt servicing.Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Banking & Finance

Low pensionary amount multiplies sufferings of EOBI beneficiaries ISLAMABAD: The low pensionary amount of Rs. 5250 only per month has multiplied the suffering of the beneficiaries of Employees Old Age Benefit Institution (EOBI) especially industrial and mine workers who are finding difficult to meet both ends of life.The pensioners registered with EOBI have demanded of the government to increase their pension from Rs. 5250 upto at least Rs.15000, considering the prevailing price hike situation in the country.According to the official source, around 40 ...

Pakistan - Banking & Finance

OPs send US$19.9bn remittances in FY 2016 ISLAMABAD: Pakistan has received valuable foreign exchange of US$ 19914.60 million from the Overseas Pakistanis in the Fiscal Year 2016, showing a growth of 6.38% compared to the last year' remittances of US$ 18719.80 million.According to the data received to the Ministry of Overseas Pakistanis and Human Resource Development from State Bank of Pakistan, the inflow of workers' remittances amounted to US$2072.97 million during June 2016.The country wise details for the month of June 2016 ...

Pakistan - Banking & Finance

SBP to issue Rs 50 coin in memory of late Edhi ISLAMABAD: The State Bank of Pakistan would issue a commemorative coin of Rs. 50 in memory of late Abdul Sattar Edhi as a small token of appreciation to remember him in the history of Pakistan.SBP Ashraf Mahmood Wathra announced this while addressing to a `condolence' gathering to pay tributes to late Abdul Sattar Edhi who served the needy, the orphans, the widows and the destitute by rising above the considerations of caste, color and creed.The ...

Pakistan - Banking & Finance

SBP honours Edhi with Rs 50 commemorative coin The State Bank of Pakistan (SBP) has announced to issue a 50 Rupee commemorative coin, in recognition to the work by late humanitarian Abdul Sattar Edhi, on Saturday.According to local media reports, a ceremony was conducted by the SBP to honour Pakistan’s most well known philanthropist and social worker. Governor State Bank Ashraf Mahmood Wathra addressing at the central bank premises paid tributes to Abdul Sattar Edhi.The governor said that the government decided to issue ...

Pakistan - Banking & Finance

EOBI's pensioners demand raise in pensionary amount ISLAMABAD: The pensioners registered with Employees Old Age Benefit Institution (EOBI) have demanded of the government to increase their pensionary amount considering the prevailing price hike situation in the country.Talking to APP, President All Pakistan EOBI Pensioners, Mubarik Hussain Gulshad said more than 20,000 industrial workers, besides others, are registered with EOBI and receive pension from the institution of Rs. 5250 per month.He said the government announces raise in pension for all its employees every ...

Pakistan - Banking & Finance

All old design banknotes to be demonetized from December, 31 ISLAMABAD: As per Federal Government's Gazette Notification dated June 04, 2015, the old design banknotes will cease to be legal tender with effect from December 01, 2016.Therefore, it has now been decided to phase out all remaining old design banknotes of Rs 10, 50, 100 and 1000, said a statement issued by the State Bank of Pakistan here on Friday.The Rs 5 banknote and the old design Rs 500 banknote have already been demonetized.It is ...