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CDNS saves Rs.201bn in July-January 2014-15 ISLAMABAD: The Central Directorate of National Savings (CDNS) realised Rs.201 billion as savings during the first seven months of this fiscal year against the target of Rs.153bn.The amount was Rs.98 bln more than the collection during the same period of last year, a senior official of CDNS told APP on Thursday.He said the assets of CDNS have also crossed Rs2.6 trillion, 26 per cent of the total national savings.He said the CDNA to initiate the collaboration with National Institute of Finance and Technology (NIFT) to provide facility to customers for clearance of cross checks in National Bank of Pakistan (NBP).Similarly, new rates for special saving certificates (SSC) would be 9.87pc, regular income certificates (RIC) 10.15pc, behbood certificates/pensioners accounts (BSC) 12.72pc and defence saving certificates (for 10 years) 11.08 percent a year."The performance of National Savings has improved, particularly during past couple of years as its investments have recorded tremendous growth," ...

Liquidity management aims at price stability: SBP KARACHI: Liquidity management operations of State Bank of Pakistan (SBP) aim to achieve monetary policy objectives of price stability so as to provide a facilitating environment for economic growth.In particular, the intermediate goal is to contain the overall monetary expansion (M2 growth) within safe limits; consistent with price stability objective, said SBP statement here on Tuesday.This is ensured by management of day-to-day liquidity in the banking system with a view to keep the overnight money ...
Workers' remittances rise over 15pc to $9 billion in the first half of FY15 ISLAMABAD: Overseas Pakistani workers remitted $8,981.67 million in first half (July to December) of FY15, showing an impressive growth of 15.26 percent compared with $7,792.40 million received during the same period of FY14.During December 2014, the inflow of worker's remittances amounted to $1,583.23 million, which is 20% higher than November 2014 and 14.32% higher than December 2013, says a statement issued by the State Bank of Pakistan on Monday.According to SBP, the country wise details ...
SBP injects Rs 689.15bn into market KARACHI: State Bank of Pakistan (SBP) on Friday injected Rs 689.15 billion into market for 10 days during its open market operation (OMO).The bids offered were of Rs 694.150 billion. The rate of return is 9.3 per cent per annum, said SBP statement.Copyright APP (Associated Press of Pakistan), 2015 ...
SBP issues mechanism for sugar export ISLAMABAD: State Bank of Pakistan has issued a mechanism for the processing of sugar export cases.Accordingly authorized dealers (Ads) in foreign exchange will forward the requests of Sugar Mills to the Exchange Policy Department, State Bank of Pakistan, Karachi for approval.This was stated in the EPD Circular Letter No.01, issued today to of all authorized Dealers in Foreign Exchange, says a statement issued by the Central bank.ADs are advised to process the export of sugar ...
Call for more efforts for awareness about Islamic banking KARACHI: The extensive study of State Bank of Pakistan established the demand for Islamic banking at all level. At the same time, it revealed the lack of awareness not only among ordinary people but among qualified and educated groups."There is desire among consumers to know more about Islamic banking and address some crucial questions," said Deputy Governor, State Bank of Pakistan (SBP) Saeed Ahmad here on Tuesday while launching the 2nd phase of media campaign ...
Pak foreign reserves exceed $ 15 billion ISLAMABAD: Pakistan's foreign currency reserves have exceeded $15 billion, said Finance Minister Mohammad Ishaq Dar.Briefing the Prime Minister here on Monday, Dar said that out of these $10 billion were with State Bank and rest with Commercial Banks.Dar informed the Prime Minister about the economic measures taken by the government which led to the increase of the reserves to $ 15 billion.Prime Minister Nawaz Sharif on the occasion appreciated the economic polices initiated by the ...


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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 $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln