Just in:  

You are here: Home»Pakistan»Banking & Finance

Banking & Finance


CDNS saves Rs.60bn in first quarter of current fiscal year ISLAMABAD: The Central Directorate of National Savings (CDNS) has fetched Rs.60 billion during the first quarter of current fiscal year against Rs.44 billion during the same period of previous year 2013.The CDNS has collected Rs.36 billion in month of July and August 2014 against Rs.31 billion in same months of 2013, depicting an increase of 20%,said spokesman and policy expert of CDNS Ghafoor Baloch told APP on Thursday.Replying to a question, he said the CDNS set the Rs.220 billions annual target for the current year of 2014, while Rs.65 billion separate target also set for price bond.Similarly during the financial year 2011-12 a saving of Rs.187,685.00 million were made against the target of Rs.146,000.00 million and 128 percent target was achieved, he added.Replying to another questions, he said that the ongoing sit-ins staged by Pakistan Awami Tehreek (PAT) and Pakistan Tehreek-i-Insaf (PTI) in red zone of the Federal Capital is ...

SBP injects Rs 122,200mn into market KARACHI: State Bank of Pakistan (SBP) on Wednesday injected into market Rs 122,200 million for nine days during its open market operation (OMO). The bids offered were of Rs 128,700 million. The rate of return is 9.96 percent, said SBP release. Copyright APP (Associated Press of Pakistan), 2014 ...
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 ...
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 ...


Index Closing Chg%
Arrow DJIA 17,678.70 0.03
Arrow Nasdaq 4,771.76 0.29
Arrow S&P 2,057.09 0.26
Arrow FTSE 6,852.40 0.29
Arrow DAX 10,798.33 1.40
Arrow CAC-40 4,675.13 0.74
Arrow Nikkei 17,468.52 0.25
Arrow H.Seng 24,909.90 0.24
Arrow Sensex 29,278.84 0.94

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln