05062016Fri
Last update: Fri, 06 May 2016 09pm

Banking & Finance

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 ...

Pakistan - Banking & Finance

Govt release Rs234.850 for Commerce Division projects ISLAMABAD: As many as Rs234.850 million has been released by the government for various development projects of Commerce Division under Public Sector Development Programme (PSDP) 2015-16.Over all, Rs.875.622 million have been earmarked for the Commerce Division's development projects during the current fiscal year out of their total estimated cost of Rs.3764.183 million.According to break figures of the Ministry of Planning, Development and Reform, the government released Rs.210.514 million for purchase of equipment, furnishing, curriculum development ...

Pakistan - Banking & Finance

Bank Alfalah earns profit before taxation of Rs. 3.7bn Q1 2016 KARACHI: Bank Alfalah's financial results for the first quarter of 2016 remained positive with the Bank registering profit before taxation of Rs. 3.794 Billion- a growth of 25 percent, as against the corresponding period last year.An announcement here on Wednesday pointed out that the Bank's profit after tax was recorded at Rs. 2.467 Billion, a 24 percent increase as compared to the prior corresponding period.It said that despite interest rates being at their lowest, net ...

Pakistan - Banking & Finance

51pc believe to have bank accounts ISLAMABAD: Simple majority of people across the country believe that only those earning regular salary can have bank accounts.According to survey conducted by Gallup Pakistan for the State Bank of Pakistan, 51% Pakistanis believe it is true that only people earning a regular salary can have a bank account whereas 46% people state that it is false."These results are a part of the nationwide Access to Finance Study conducted by the State Bank of Pakistan ...