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Banking & Finance


FBR announces waiver of penalties, fine against customs duties ISLAMABAD: The Federal Board of Revenue (FBR) has announced waiver of penalties, fines and surcharge against the custom duties. According to a press release issued here on Friday, to ensure deposit of the outstanding principal amount of Customs duty by June 30, the Federal Government has remitted whole amount of penalties, fine and surcharge under section 202A, payable by a person against whom an amount of customs-duty is outstanding on account of any audit observation, audit report, demand notice or any adjudication order or who has failed to pay any amount of customs-duty or claimed inadmissible refund or drawback of customs-duty to any reason. It has been further notified that in case where refund becomes due to any persons in consequence of a decision or judgment at a later stage after the issuance of this notification, the customs duty deposited by that person under this notification shall be refunded to him. This measure ...

SBP to buy govt paper in reverse repos KARACHI: State Bank of Pakistan (SBP) said it would buy government paper from commercial banks on Friday in seven-day and 14-day reverse repos to inject funds into the money market. The State Bank of Pakistan did not say how much money it would inject through the open market operations. Copyright Reuters, 2012 ...
Forex reserves further slips to $15.047bn KARACHI: Country's foreign exchange reserves have plunged by $ 370 million to around $ 15,047 billion as on June 15, 2012 on foreign payments. According State Bank of Pakistan here Thursday, the foreign exchange reserves held by the Central Bank decreased to $ 10.680 billion while reserves held by banks improved to about $ 4.366 billion during the week. Copyright APP (Associated Press of Pakistan), 2012 ...
RTO recovers Rs.48124m tax till June 20 MULTAN: Regional Tax office (RTO) Multan was able to recover Rs.48124 million as taxes till June 20 against a target of Rs.52000 million they are required to meet till June 30, 2012, official sources said on Thursday. Official sources said here on Thursday that they have achieved over 92 per cent of the tax recovery target and hoped the target would be met before June 30, the last day of the fiscal year 2012-13. Against a target ...
Pakistan KARACHI: Pakistan's total liquid foreign exchange reserves stood at $15,046.5 million on June 15, 2012, State Bank of Pakistan (SBP) said Thursday. According to the break-up, foreign reserves held by SBP were $10,680.7 million and net foreign reserves held by banks (other than SBP) $4,365.8 million.   Copyright PPI (Pakistan Press International), 2012   ...
Banks/DFIs allowed to assign up to Rs5mn limit  RECORDER REPORT KARACHI: The State Bank of Pakistan (SBP) has allowed banks/Development Finance Institutions (DFIs) to assign clean credit card and personal loan limits up to Rs5 million to their "prime customers". The higher clean limit facility has been provided to banks/DFIs with a view to providing flexible treatment to their prime customers. However, aggregate exposure of banks/DFIs in respect of prime customers, has been capped at up to 20 percent of the total exposure on account ...
Agri credit disbursement surges to Rs255 billion  RECORDER REPORT KARACHI: Agricultural credit disbursement by banks surged by 13.11 percent on year-on-year basis to Rs 255.027 billion in the first 11 months (July-May) of the current fiscal year (2011?12). In absolute terms, disbursement of credit to the agriculture sector increased by over Rs 29.566 billion in July-May, 2012 when compared with total disbursement of Rs 225.461 billion in the same period of last fiscal year. Overall credit disbursement by five major commercial banks - Allied Bank ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln