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Banks urged to develop plan for SME sector growth  RECORDER REPORT KARACHI: The Governor of the State Bank of Pakistan, Yaseen Anwar, has stressed upon the banks to develop an effective 'SME strategy' by focusing on important areas for the sustainable growth of the SME (small and medium enterprises) sector. Presiding over the 4th meeting of the SME Credit Advisory Committee at SBP, here on Wednesday, he observed that a sustainable approach towards the development of the SME sector would require a more active role from all stakeholders, specially the banks, in improving availability of finance and other banking services for small and medium enterprises. He said that the growth of the SME sector is critical to the country's prospects of increasing employment, supporting productivity through greater business innovation, and reducing income inequalities. "This is very important, as SMEs account for the vast majority of the business establishments in Pakistan (over 98 percent) and account for over 78 percent of ...

Rs2bn allocated for small traders, industrialists: BoK MD  RECORDER REPORT PESHAWAR: The Managing Director, Bank of Khyber, Bilal Mustafa has said the Khyber Pakhtunkhwa government has allocated Rs 2 billion for the small traders and industrialists and expressed the hope that loans will be disbursed on easy terms and conditions very shortly. Addressing businessmen and industrialists at Sarhad Chamber of Commerce and Industry (SCCI) here on Monday, he said that the loans could not be released under Islamic law. He rejected the impression that the Bank ...
FBR Collects Rs840.7bn upto December 2011     ISLAMABAD: Federal Board of Revenue (FBR) has realized a provisional collection of Rs 840.7 billion revenue estimates up to December 2011. In the corresponding period last year, the FBR had collected Rs 661.7 billion tax as this year collection shows an increase of 27.05 per cent upto December. Talking to APP, spokesperson Ms. Riffat Shaheen Kazi said that if this trend in the revenue collections of FBR continues, the government will be able to meet its revenue ...
Punjab finance deparment releases Rs1.83bn for development schemes  RECORDER REPORT LAHORE: Secretary Food Punjab Irfan Ali disclosed here on Saturday that a sum of over Rs.1.83 billion has been released by the provincial finance department from the sugar cane (development) cess. In a statement issued today, he said that this amount was released for the year 2010 for 30 districts of the province for development schemes. Regarding sugar stocks, he said 426,316 tonnes of sugar was present with the sugar mills in Punjab while 130,692 ...
Development cost Rs 239.62m for ongoing projects HAFIZABAD: Around Rs 239.62 million are being spent on provision of potable water, missing facilities in schools, road network and health care in Hafizabad-Jalalpur Bhattian said MPA Asadullah Arain. While talking to this agency here on Friday, he said that Rs. 200 million were being spent under the Special Package 2010-11 jointly funded by him and MNA Saira Afzal Tarar for widening and improvement of Hafizabad-Pindi Bhattian road (31-miles) from Jinnah Chowk Hafizabad to Pindi Bhattian. The ...
Temasek looking to sell majority stake in NIB bank SINGAPORE: Singapore state investor Temasek is looking to sell its 88.6 percent stake in Pakistan's NIB Bank after heavy losses, the Business Times reported on Thursday quoting a source. The paper also said NIB had suffered a cumulative net loss of about 17 billion Pakistan rupees ($189 million) since Temasek first invested in the bank in early 2005. Business Times quoted a Temasek spokesman as saying the firm did not comment on market speculation. The Singapore state ...
E-banking transactions jump 19pc to Rs12tn: SBP report     KARACHI:-The value of e-Banking transactions has surged by 19 percent to Rs 12 trillion during the second half of financial year 2011 compared to first half of the current year. According to a half yearly review of State Bank of Pakistan's Payment Systems Half here Wednesday, the volume of such transactions during the period under review reached 125.9 million depicting an increase of 15.5 percent compared to the first half of FY11. The payment system infrastructure in ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln