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Banking & Finance


SBP issues guidelines to banks for increasing agri-financing KARACHI: State Bank of Pakistan (SBP) has issued guidelines on value chain contract farmer financing to encourage banks to extend credit to small and marginalized farmers by leveraging on the strengths of inter-relationships that exist in the agriculture value chain.These guidelines will serve as a basis for banks to develop mutually beneficial relationship between the banks, farmers and the value-chain agent, said SBP statement here on Wednesday.Contract farming assumes an extensive number of arrangements along the value chain linking small-scale farmers to markets by either formal or informal contracts.Value Chain Contract Farmer Financing schemes are broadly defined as binding arrangements between banks and agriculture value chain actors including producers, processors, aggregators, traders through which a farmer or group of farmers ensures supply of agricultural products to individual firms.It replaces the traditional collateral requirements with trade agreements by facilitating coordinated commercial relations between value chain actors.The introduction of value chain contract ...

K-Electric Signs Agreement with MCB for e-Bill Payment KARACHI: MCB Bank Limited, one of Pakistan’s largest banks and K-Electric have entered into an agreement for e-Bill payment services in MCB branches. The signing ceremony was held at the KE House.K-Electric has adopted UBCS (Utility Bills Collection System) Solution offered by MCB’s Transaction Banking Division for all Karachi branches. This will enable the Company to receive details of bills paid in MCB Bank branches in an efficient and cost effective manner, along with timely ...
SBP declares coupon rate of 3-year GoP Ijara Sukuk KARACHI: State Bank of Pakistan (SBP) on Friday declared 4th coupon rate for 3-year Govenment of Pakistan Ijara Sukuk ( GIS-14), auctioned on March 26, 2013.The rate is 9.70 percent per annum and the date of payment will be March 28, 2015, said SBP statement here on Friday.The profit will be applicable to all accepted bids in this auction.Copyright APP (Associated Press of Pakistan), 2014 ...
16 tax facilitation centres set up FAISALABAD: Regional Tax Office has set up 16 tax facilitation centres in four districts of Faisalabad division to receive income tax returns for the year 2014.A spokesman of tax office said here on Friday that these facilitation centres have been established at Gulistan Colony Sargodha Road, Clock Tower-1, Clock Tower-2, Clock Tower-3, Satiana Road, Jaranwala Road, Satellite Town Chiniot, Civil Lines Jhang, Press Club Faisalabad, Press Club Jhang, Press Club Chiniot, Press Club Toba Tek ...
Rs13bn pension fund managed despite all hurdles: EOBI ISLAMABAD: Employees Old Age Benefits Institution (EOBI) has managed to receive pension fund of over Rs 13 billion from registered employers which is 20 per cent more as compared to previous year.Chairman, EOBl, Ayub Shaikh on Friday informed a meeting that 5,000 new employers and their employees were brought in to pension net.The meeting, chaired by Minister for Overseas Pakistanis and Human Resource Development, Pir Syed Sadaruddin Shah Rashidi was held to review annual performance ...
FBR establishes over 200 Tax Facilitation centers for filing returns ISLAMABAD: The Federal Board of Revenue (FBR) has established more than 200 tax facilitation Kiosks and centers to facilitate the taxpayers for filing the returns of income for the tax year 2014.The centers have been established throughout the country on places like important business centers, shopping malls, offices of Traders' Associations/Chambers of Commerce and Industry, National and Provincial Assembly buildings, said a press release issued here by the FBR on Friday.The centers have also been ...
Pak forex figure $ 13.52502bn KARACHI: The total liquid foreign reserves of the country figure dollars 13.52502 billion, said State Bank of Pakistan. According to SBP's weekly statement on Thursday, the foreign reserves held by State Bank on September 12, amounted to dollars 8.79505 billion and the net foreign reserves held by banks were dollars 4.72907 billion.During the week ending Sept 12, SBP's liquid foreign reserves increased by $ 103 million to $ 8.796 billion compared to $ 8.693 billion ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln