05242016Tue
Last update: Tue, 24 May 2016 04pm

Banking & Finance

Pakistan - Banking & Finance

Pak forex figure stands at $ 20.834bn KARACHI: The total liquid foreign exchange reserves of the country stood at $ 20.834 billion, said State Bank of Pakistan (SBP).According to SBP's weekly statement here on Thursday, the foreign reserves with State Bank on May 6, amounted to $ 16,032.7 million and the foreign reserves held by commercial banks were $ 4,801.5 million.During the week ending May 6, SBP' liquid foreign exchange reserves increased by $ 128 million to $16,033 million, compared to $15,905 million in the previous week. Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Banking & Finance

Pak forex figure stands at $20.834bn KARACHI: The total liquid foreign exchange reserves of the country stood at $ 20.834 billion, said State Bank of Pakistan (SBP).According to SBP's weekly statement here on Thursday, the foreign reserves with State Bank on May 6, amounted to $ 16,032.7 million and the foreign reserves held by commercial banks were $ 4,801.5 million.During the week ending May 6, SBP' liquid foreign exchange reserves increased by $ 128 million to $16,033 million, compared to $15,905 ...

Pakistan - Banking & Finance

Workers' remittances rise 5.2pc to $16bn in 10 months KARACHI: State Bank of Pakistan (SBP) here Tuesday said that overseas Pakistani workers remitted US $ 16034.39 million in the first ten months (July to April) of FY16, showing a growth of 5.25% compared with US $ 15235 million received during the same period in the preceding year.During April 2016, the inflow of worker's remittances amounted to US $ 1656.85 million, which is 3.17% lower than March 2016 and 1.02% higher than April 2015.The country ...

Pakistan - Banking & Finance

Workers' remittances rise 5.2% to US $16 billion: SBP ISLAMABAD: Overseas Pakistani workers remitted US $ 16034.39 million in the first ten months (July to April) of FY16, showing a growth of 5.25% compared with US $ 15235 million received during the same period in the preceding year.During April 2016, the inflow of worker's remittances amounted to US $ 1656.85 million, which is 3.17% lower than March 2016 and 1.02% higher than April 2015, said a statement issued by the Central bank on Tuesday.The ...

Pakistan - Banking & Finance

Govt likely to set tax recovery target at Rs3,600bn for FY 2016-17 ISLAMABAD: Government is likely to set tax recovery target at Rs 3,600 billion in the federal budget for Fiscal Year 2016-17.According to a private news channel quoting sources privy to the Finance Ministry said that tax recovery target could be at least 16 percent higher than the current fiscal year.Taxes amounting to Rs 2,345 billion have been recovered in FY 2015-16 until May out of the set target of Rs 3,103 billion.Federal Board of Revenue ...

Pakistan - Banking & Finance

SBP issues prepaid card regulations ISLAMABAD: In order to promote electronic payments in Pakistan by introducing alternate digital means of payments and achieve greater financial inclusion by taking advantage of the technological developments in the card industry, SBP has issued Prepaid Card Regulations.A statement of the Central Bank issued on Monday said prepaid Card is a payment instrument built around a pay early, spend later model rather than the pay now and pay later models used in debit and credit ...

Pakistan - Banking & Finance

Inland Revenue Reward Rules 2016 approved ISLAMABAD: The Federal Board of Revenue's (FBR), Board in Council has approved Inland Revenue Reward Rules 2016 to give rewards to the officers and officials rendering meritorious services."I am positive that these reward rules will act as a catalyst for all such officers and officials who are working very hard and producing outstanding results," said Dr. Muhammad Irshad, Member Inland Revenue Operation in a letter sent to all officers of Inland Revenue.With the approval of ...