08242016Wed
Last update: Wed, 24 Aug 2016 06am

Banking & Finance

Pakistan - Banking & Finance

Sindh Revenue Board to pursue Rs78bn target for 2016-17 KARACHI: The Sindh Revenue Board (SRB) after surpassing the revenue target of Rs 61 billion by achieving the collection of Rs 61.453 billion during the year 2015-16, shall now pursue the new assigned target of Rs 78 billion for the year 2016-17.This was stated by the spokesman of SRB in a statement issued on Thursday.He announced that the SRB has achieved yet another milestone by collecting Sindh Sales Tax (SST) amounting of Rs 6.403 billion only during the month of June 2016, which represents the highest ever amount of SST collected in any one single month ever since SRB started collecting SST in July 2011.Giving the details, the SRB spokesman informed that SRB collected an amount of Rs 61.453 billion during the year 2015-16 against its collection of Rs 49.371 billion during financial year 2014-15, representing a remarkable growth of 24.47 per cent.He said that SRB is the only tax ...

Pakistan - Banking & Finance

NBP ensures smooth ATM services for customers during Eid holidays ISLAMABAD: National Bank of Pakistan (NBP) has made special arrangements to ensure smooth Auto Teller Machine (ATM) services to facilitate its customers during Eid-ul-Fitr holidays across the country."In the light of instructions issued by the State Bank of Pakistan (SBP), the NBP like other banks, has ensured smooth round-the-clock ATM services during Eid holidays," Spokesman of NBP, Syed Ibne Hassan told APP here on Thursday.He said the bank has deployed special monitoring teams for the ...

Pakistan - Banking & Finance

SBP to remain closed from July 5-8 ISLAMABAD: The State Bank of Pakistan (SBP) will remain closed from July 5 to 8, (Tuesday, Wednesday, Thursday and Friday) on the occasion of Eid-ul-Fitr.This was announced in a notification of the SBP issued here Thursday.Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Banking & Finance

Foreign Exchange Reserves rise to $21.7bn ISLAMABAD: The total liquid foreign reserves held by the country stood at US$21,765.8 million as on June 24 2016, State Bank of Pakistan (SBP) reported.According to break up figures, these include US$16,819.6 million foreign reserves held by the SBP and US$4,946.2 million net foreign reserves held by commercial banks.During the week ending 24 June 2016, SBP's Liquid Foreign Reserves increased by US$ 4 million to US$16,820 million, compared to US$16,816 million in the previous week, ...

Pakistan - Banking & Finance

CDNS collects Rs214bn by June, 10 in current fiscal year ISLAMABAD: The Central Directorate of National Savings (CDNS), collected Rs 214 billion against the revised target of Rs 218 billion by June 10, during the current fiscal year (2015- 16).The National Savings has revised the target for year 2015-16 had been set at Rs 218 billion, a Senior official of CDNS told APP on Wednesday.Likewise, he said during the first three quarter of the current fiscal year, the CDNS collected Rs 166 billion against the ...

Pakistan - Banking & Finance

Banks directed to ensure ATMs operational during Eid ISLAMABAD: Commercial banks have been directed to ensure availability of Automated Teller Machine (ATM) services round the clock and also that cash is dispensable through machines throughout the Eid Holidays.State Bank has mandated for all branches of all banks to remain open on Saturdays to meet customers banking needs.Not to mention, not all banks operate on Saturdays, however, with this latest directive all commercial banks are asked to operate as usual during both Saturdays of ...

Pakistan - Banking & Finance

Commercial banks to remain open on Saturdays July 2 and 9: SBP KARACHI: SBP, being fully cognizant of the banking needs of general public, has taken the following measures for smooth availability of banking services during Eid-ul-Fitr holidays.All branches of commercial banks will remain open on 2nd and 9th July, 2016 (Saturdays). Commercial banks shall strictly ensure availability of ATM services round the clock. For early replenishment of cash at ATMs, banks shall make proper arrangements of currency stock at the respective ATM feeding branches. Commercial banks ...