Just in:  

You are here: Home»Pakistan»Banking & Finance

Banking & Finance


Jobs in privatized banks occupied by elite class: Junaidi  KARACHI: Alleging that the people from elite class were occupying jobs in privatized commercial banks closing the doors for the middle and poor classes, trade union leader Habibuddin Junaidi said on Sunday that there was virtually a ban on recruitment even in clerk and non- clerk cadre in these banks for middle class people. He demanded the federal ministry of finance to constitute a special committee for examining the difference between the salaries of employees working in various categories in privatized commercial banks. He said that the salaries and facilities of banks’ employees should be raised to a suitable level, as the senior executives were leading luxurious lives with high salaries and the junior officers, clerk and non-clerk cadre employees were facing hardships. Addressing a joint meeting of Regional Working Committees of Habib Bank Workers’ Front of Pakistan (CBA) from Punjab here, Junaidi said if the special committee is constituted, it would find ...

Undocumented economy quite vibrant: SBP  RECORDER REPORT KARACHI: The State Bank of Pakistan on Friday said that the country's undocumented economy is vibrant as it is driving formal economic activities and keeping Pakistan from a full blown recession like Europe. According to SBP's quarterly report, Pakistan's economic data appears to suggest two things: first, Pakistan has fallen behind its neighbors in South Asia; and two, even this below potential growth is quite impressive when seen in the context of the challenges mentioned ...
Finance schemes to continue till finalisation of new limits  RECORDER REPORT KARACHI: The State Bank of Pakistan has announced to continue current limits of Long Term Financing Facility (LTFF), Export Finance Scheme (EFS) and Islamic Export Refinance Scheme (IERS) till finalisation of new limits. According to SBP, LTFF limits sanctioned in favour of banks for the year 2011-12 are due to expire on 30-06-2012, therefore in order to ensure that financing facilities are available to borrowers till finalisation of new limits under the facility for the ...
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 ...
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 ...


Index Closing Chg%
Arrow DJIA 17,387.21 1.65
Arrow Nasdaq 4,681.50 1.89
Arrow S&P 2,029.55 1.34
Arrow FTSE 6,811.61 0.60
Arrow DAX 10,628.58 1.57
Arrow CAC-40 4,624.21 1.09
Arrow Nikkei 17,768.30 1.72
Arrow H.Seng 24,807.28 0.41
Arrow Sensex 29,571.04 1.00

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln