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Last update: Sun, 31 Jul 2016 10am

Banking & Finance

Pakistan - Banking & Finance

SBP injects Rs191bn into financial system KARACHI: State Bank of Pakistan (SBP) on Thursday injected Rs 191 billion into money market for eight days through its open market operation (OMO).The rate of return accepted is 5.79 percent per annum, said SBP statement.Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Banking & Finance

Tax recovery target to be completed SARGODHA: Tax recovery target through various heads will be achieved till June 30 at any cost.Director Excise and Taxation Abdullah Khan talking to journalists said last date of depositing token tax payments without fine had been extended to June 30.He said counters for payment of token tax had also been established at Post Offices where taxes could be deposited without challan receipts of motor registration authority.He said properties of defaulters would also be sealed without ...

Pakistan - Banking & Finance

Forex slip to $21.267bn KARACHI: The total liquid foreign exchange reserves of the country stand at dollars 21.267 billion, said State Bank of Pakistan.According to SBP's weekly statement here on Thursday, the foreign reserves held by State Bank on June 3, amounted $ 16,462.6 million and the net foreign reserves with the commercial banks were $ 4,804 million.During the week ending June 03, SBP's liquid foreign reserves decreased by $ 344 million to $ 16,463 million as compared to ...

Pakistan - Banking & Finance

SBP introduces modern means to ensure new currency notes on Eid ISLAMABAD: Taking full advantage of innovations, State Bank of Pakistan (SBP) has introduced SMS service to facilitate people in acquiring new currency notes to celebrate Eid-ul-Fitr.As part of steps taken to provide citizens with fresh currency notes, especially with Eid holidays, this facility will be provided through 500 e-branches in 116 cities during Ramazan.According to information, the aspirants of fresh currency notes need to type CNIC number<space>e-branch ID and send it as an SMS to ...

Pakistan - Banking & Finance

SBP off-loads T-bills of Rs131.574bn KARACHI: State Bank of Pakistan (SBP) on Wednesday auctioned Government of Pakistan Market Treasury Bills of Rs 131.574 billion through its Primary Dealers.The maturity period of these bills is 3, 6 and 12 months, said SBP statement.Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Banking & Finance

CDNS revises profit rates for saving certificates ISLAMABAD: The Central Directorate of National Savings (CDNS) on Wednesday notified downward revision in the profit rates for various saving certificates which was applicable from June 1, 2016."The instant revision was made in the backdrop of current market scenario and in accordance with the government's policy to provide market based competitive rate of return to the investors of National Savings", a senior official of the CDNS told APP.He said as per notification issued by the ...

Pakistan - Banking & Finance

EOBI disburses Rs16,706mn among 378,615 beneficiaries ISLAMABAD: Employees Old-Age Benefits Institution (EOBI) has disbursed an amount of Rs 16,706 million among 378,615 beneficiaries during the period from July 2015-March 2016 under its four schemes.According to the official source, an amount of Rs 10,400 million has been disbursed among 231,638 beneficiaries under Old-Age Pension Scheme of EOBI.While an amount of Rs 6,011 million has been disbursed among 139,256 beneficiaries under the EOBI' scheme of Survivors' Pension, the source said.An amount of Rs ...