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Workers RECORDER REPORT KARACHI: For the first time in the history of the country's inflow of home remittances has crossed $ 12 billion mark, crossing the last fiscal year record inflows of $ 11.2 billion. According to the State Bank of Pakistan overseas Pakistanis have sent an amount of $ 12.069 billion in the first eleven months (July 2011 - May 2012) of the current fiscal year 2011-12 (FY12), showing an impressive growth of 19.54 percent or $ 1.973 billion when compared with $ 10.096 billion received during the same period of the last fiscal year (July- May 2011). Remittances received from all countries of the world showed growth during the first eleven months of the current fiscal year. The inflow of remittances during July-May 2012 from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $ 3,353.32 million, $ 2,629.72 million, $ 2,127.87 million, ...

SBP for timely credit of tax receipts  KARACHI: State Bank of Pakistan (SBP) has advised banks/ DFIs/ MFBs to place appropriate procedures for timely credit of tax receipts in the FBR account and the proceeds of all the taxes including withholding tax for the current fiscal year are transferred/ deposited to FBR Account, on or before the close of business, that is, on June 30, 2012 (being Saturday). In a circular letter No 11, issued on June 11, 2012, SBP has reminded banks/ ...
SBP Governor asks banks to give top priority to SME banking  KARACHI: Governor, State Bank of Pakistan, Yaseen Anwar has stressed upon the banks to give top most priority to SME banking with a view to ensuring uninterrupted flow of financial access to SME sector in the country. Speaking at the signing ceremony of the project document between the State Bank of Pakistan (SBP) and Bank Alfalah under the DFID-funded Financial Inclusion Programme (FIP) at SBP, here Monday, he said the role of banks, especially of mid-tier ...
SBP refutes rumours about Re1, Rs2 coins  KARACHI: The State Bank of Pakistan (SBP) has categorically denied rumours appearing in a section of the regional press/media regarding the mixing of gold in aluminum/copper coins of Re 1 and Rs 2. The Chief Spokesman of SBP, Syed Wasimuddin on Wednesday described the rumours as baseless, highly misleading and mischievous. In a clarification, the SBP Chief Spokesman said the exchange value of Re 1 and Rs 2 coins will remain the same as per their face ...
SBP to announce monetary policy on Friday  RECORDER REPORT KARACHI: The State Bank of Pakistan will announce its Monetary Policy for the next two months on Friday. The State Bank's previous policy, which it announced in April this year, had kept interest rate unchanged at 12 percent, but raised the minimum profit rate on savings products by one percent, increasing it to 6 percent to encourage depositors. The central bank's board will meet on June 8 to deliberate on key economic issues and finalise the ...
Deutsche Bank scholarship at KSBL KARACHI: The Deutsche Bank Pakistan has offered scholarship funding for MBA programme at Karachi School for Business and Leadership (KSBL). An announcement here on Tuesday said that this was specifically to promote and support the advancement of women in higher education and the business environment. It said that Deutsche Bank's Managing Director and Chief Country Officer, Faizan Mitha's, continuous commitment and support of the KSBL mission. Currently as enrolment numbers continue to rise at KSBL that is offering ...
Big investment needed in Asia-Pacific ISLAMABAD: Asia and the Pacific is consuming more resources than its ecosystems can sustain, threatening the future of the region's beleaguered forests, rivers, and oceans as well as the livelihoods of those who depend on them, says a new joint report by the Asian Development Bank (ADB) and World Wildlife Fund (WWF). The Joint ADB-WWF study was launched to commemorate World Environment Day to encourage positive environmental action. The study, Ecological Footprint and Investment in Natural Capital ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln