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Banks urged to give top priority to SME banking  RECORDER REPORT KARACHI: The Governor, State Bank of Pakistan, Yaseen Anwar has stressed 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 and Bank Alfalah under the DFID-funded Financial Inclusion Programme (FIP) at SBP, Karachi on Monday, he said the role of banks, especially of mid-tier banks, is crucial to ensure unhindered flow of financial resources to the SME sector which is the engine of economic growth in Pakistan, 'Though many banks in the market are trying to improve their market position in order to serve the sector more effectively, the current level of SME finance as well as an overall level of SMEs' access to banking services remain unsatisfactory, and as such call for more serious efforts on part ...

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 $ ...
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 ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln