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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 cases as per following mechanism:--SBP will allow permission against each E-Form on first come first served basis.--ADs will ensure receipt of a minimum 15% of total contract value as advance payment or obtain an irrevocable L/C from the buyer.--Exporter must ship the sugar within 45 days from the date of SBP approval or by May 15, 2015, whichever comes earlier.--ADs shall ensure to forfeit 15% advance payment in favour of Government of Pakistan in case ...

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 ...
SBP injects Rs 79.5bn into market KARACHI: The State Bank of Pakistan on Monday injected Rs 79.5 billion into the market for four days during its open market operation.The bids offered for this injection amounted Rs 83.5 billion. The rate of return is 9.28 per cent, said SBP statement.Copyright APP (Associated Press of Pakistan), 2014 ...
SBP accepted bids of Rs 20.3bn for outright purchase of GoP Sukuk KARACHI: State Bank of Pakistan (SBP) on Monday accepted bids of Rs 20.3 billion during its open market operation ( outright purchase of Government of Pakistan Ijara Sukuk from SBP).The bids offered were of Rs 33.5 billion. The cut-off price accepted is Rs 103.0897 million, said SBP statement.Copyright APP (Associated Press of Pakistan), 2014 ...
SBP accepts bids of Rs 20.3bn for purchase of Sukuk KARACHI: State Bank of Pakistan (SBP) on Thursday accepted bids of Rs 20.3 billion in its open market operation (purchase of Government of Pakistan Ijara Sukuk on Bai Mujjal basis). SBP accepted all bids offered for 6-months and 12-months Sukuk. The deferred price accepted is Rs 112.7149 billion, said SBP statement.Copyright APP (Associated Press of Pakistan), 2014 ...
Agricultural credit surges to Rs 167.6bn in 5 months KARACHI: During fiscal year FY15 (July- Nov. 2014), the banks have disbursed Rs 167.6 billion which is 33.5% of the overall annual target of Rs 500 billion and 42.7% higher than Rs 117.4 billion disbursed in the corresponding period last year.The outstanding portfolio of agriculture loans has increased by Rs 36 billion -- from Rs 266.8 billion to Rs 302.8 billion by the end of November 2014 as compared to same period last year, said ...


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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 20, 2015
Reserves $16.132 bln