The Finance Minister directed that all the major banks and microfinance institutions come up with their suggestions on the design of the program within a week’s time and also earmark a percentage of their resources for the purpose.
Consequently, the joint efforts of SBP and commercial banks saw an average of 96.5 percent uptime recorded in ATM services during Ramadan and Eid-ul-Fitr.
Net Interest Income (NII) recorded an increase of 7pc YoY i.e. Rs11.4 billion in spite of a sharp decline in interest rates. However, NII reported a decline of 2pc QoQ as repricing of assets reach its completion.
The cement maker informed that the equipment purchased will be used to enhance the company’s production capacity up to 25500 metric tons per day at the existing plant site Iskanderabad, district Mianwali.
MLCF said that the project is expected to commence production in August 2022.
“In this regard the bank has approach Silk Bank to provide its concurrence to enable the bank to apply to SBP for its approval to conduct due diligence of the Silkbank Consumer Finance Portfolio,” it added.