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Banking & Finance


Compliance of SBP rules, regulations, correspondence with SBP KARACHI: State Bank of Pakistan (SBP) has asked its dealers to bring foreign exchange regulations to the notice of their customers and to ensure compliance in their day to day operations.SBP, through a circular on Tuesday, has invited the attention of the authorised dealers to the instructions contained in Paras 5 and 6 of Chapter I and Para 4 of Chapter II of the F.E. Manual (Eighth Edition-2002).The authorised dealers are also required to refer to the State Bank only those cases which they are not authorised to approve after satisfying themselves about the bonafides of the applicants and the correctness of the statements made by them on the application and the accompanying documents, if any, along with their recommendations/ comments and appropriate documentary evidences. The process should be completed according to EPD circular letter No 08 of 2014 issued to The Head/ Principal Offices of all Authorised Dealers in ...

PTI MPAs pay millions of rupees income tax on their salaries PESHAWAR: Contrary to the civil disobedience call of their party leader, the Pakistan Tehreek-e-Insaaf legislators in the Khyber Pakthunkhwa Assembly paid income tax as no written submission was made to the Accountant General office against deductions from their monthly salaries.Rs3000 were deducted from the August salary of each MPA as neither any minister nor legislator belonging to PTI had filed written application to the AG Office against deductions of the Income Tax, official sources confided.Only ...
Rs200 bonds draw on Sep 15 FAISALABAD: The 59th balloting of Rs.200 prize bonds will be held here on September 15.According National Savings spokesman, first prize is worth Rs. 7.5 lakh, whereas 5 prizes worth Rs2.5 lakh each are the second prize. Likewise, third prize worth Rs.1250/- will be given to 2394 winners. Copyright APP (Associated Press of Pakistan), 2014 ...
Draw of Rs40,000 prize bond on Monday FAISALABAD: The 59th draw of prize bonds worth Rs40,000 each will be held at Hyderabad on Monday (September 1).According to a spokesman of the National Savings, first position holder will be awarded a cash prize of Rs75 million while three prizes of Rs25 million each have been reserved for second position holders.Similarly, third prize of Rs0.5 million will be awarded to each of 1,696 position holders, he added.Copyright APP (Associated Press of Pakistan), 2014 ...
SBP's directives for financial consumer protection KARACHI: State Bank of Pakistan (SBP) has asked banks, development finance institutions (DFIs) and micro- finance banks (MFBs) to develop and implement their own frame- work on fair treatment of the consumers.This should be duly approved by their board of directors (BOD) and implemented by July 1, 2015, SBP directed to the above organisations through a circular released here on Friday.It is expected that the Banks/ DFIs/ MFBs will inculcate a conducive culture enduring fair ...
SBP injects Rs19,700mn into market KARACHI: State Bank of Pakistan (SBP) Friday injected Rs. 19,700 million into market for seven days during its open market operation (OMO).The bids offered amounted Rs. 24,700 million. The rate of return is 9.92 percent, said an SBP release issued here. Copyright APP (Associated Press of Pakistan), 2014 ...
Pak forex figure $ 13.58106bn KARACHI: The total liquid foreign reserves of the country stand at dollars 13.58106 billion, said State Bank of Pakistan (SBP).SBP's weekly statement issued here on Thursday said, the foreign reserves held by State Bank on Aug 22, amounted to dollars 8.55404 billion and the net foreign reserves held by other banks were dollars 5.02702 billion.Over last week, SBP's liquid foreign exchange reserves decreased by $ 349 million to $ 8.554 billion compared to $ 8.903 ...


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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 15, 2014
Reserves $13.922 bln