06302016Thu
Last update: Thu, 30 Jun 2016 01pm

Banking & Finance

Pakistan - Banking & Finance

SBP sucks Rs 61.100bn from money market KARACHI: State Bank of Pakistan (SBP) on Thursday mopped up Rs 61.100 billion from money market for one day through its Open Market Operation (OMO).The rate of return accepted is 5.82 percent per annum, said SBP statement. Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Banking & Finance

Pak forex figure $20.788bn KARACHI: Total liquid foreign exchange reserves of the country stand at $ 20.788 billion, said State Bank of Pakistan (SBP). A SBP's weekly statement on Thursday said that the foreign reserves with State Bank on April 29, amounted $ 15,904.8 million and net foreign reserves held by commercial banks were $ 4,883 million.During the week ending April 29, SBP's liquid foreign exchange reserves decreased by $ 84 million to $ 15.905 million compared to $ ...

Pakistan - Banking & Finance

HBFCL advised to refer matter of 20pc pension increase to its BoD KARACHI: On a pensioner's complaint about alleged delay in increase of pension, the Federal Ombudsman has advised the House Building Finance Company Limited (HBFCL) to refer the matter to its board of directors (BoD) to consider whether pensioners were entitled to 20 percent raise in their pension.The Ombudsman office giving recommendations over a review petition by a HBFCL pensioner, Qamaruddin Siddiqui, sought compliance within 30 days. Qamaruddin Siddiqui, who retired from service on January 12, ...

Pakistan - Banking & Finance

SBP injects Rs1,135.650 billion KARACHI: State Bank of Pakistan (SBP) on Friday injected Rs. 1,135.650 billion into financial system for seven days through its open market operation (OMO).The rate of return accepted is 6.04 percent per annum, said SBP statement. Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Banking & Finance

Speakers propose flat taxation, simplifying tax system ISLAMABAD: Economic experts here on Friday called for simplifying taxation systems and increasing revenues by lowering the tax rate.Policy Research Institute of Market Economy (PRIME) held a seminar the other day titled "Towards flat taxation, the new paradigm", unveiling a breakthrough Study aimed to increase tax revenues by lowering the tax rate, and simplifying the tax code.The study is co-authored by Huzaima Bukhari and Dr. Ikramulhaq.Huzaima Bukhari claimed that by simply lowering taxes and eliminating ...

Pakistan - Banking & Finance

Pak forex figure stands at $20.790bn KARACHI: Total liquid foreign exchange reserves of the country stands at dollars 20.790 billion, said State Bank of Pakistan (SBP).According to SBP's weekly statement here on Thursday, the foreign reserves held by the State Bank on April 22, were $ 15,988.8 million and the net foreign reserves held by commercial banks $ 4,801.2 million.During the week ending April 22, SBP's liquid foreign reserves decreased by $ 38 million to $ 15,989 million, compared to $ ...

Pakistan - Banking & Finance

SBP mops up Rs61.9bn from market KARACHI: State Bank of Pakistan (SBP) on Thursday mopped up Rs 61.9 billion from money market for one day through its open market operation (OMO).The rate of return accepted is 5.95 percent, said SBP statement.Copyright APP (Associated Press of Pakistan), 2016 ...