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Foreign reserves decrease by $219m due to external debt servicing

The total liquid foreign reserves held by the country stood at $14,613.9 million on 12 October 2018.The foreign reserves held by the State Bank of...

Digitization enabling macroeconomic growth for Pakistan: SBP report

LAHORE: The State Bank of Pakistan (SBP) in its annual report on the state of the economy has said that with the help of digital...

HBL president suggests export-based model for sustainable future

 ‘CPEC will ultimately create a long-term positive effect on the balance of payments’Habib Bank Limited (HBL) President and CEO Muhammad Aurangzeb has emphasised...

SBP’s foreign reserves decline by $101mn

The total liquid foreign reserves held by the country stood at $14,852.1 million on 5 October 2018.Foreign reserves held by the State Bank of...

Rupee rebounds by Rs1.87 against dollar in inter-bank market

This was the third consecutive day that the rupee recovered Rs3 of its value against the dollar, resulting in a cumulative gain of 7.14% since touching Rs140 in the kerb market on Tuesday

Rupee regains Rs2 against greenback in open market

This is the fifth devaluation of the rupee since December 2017, which has seen the local currency losing a cumulative 27 percent of its value against the greenback

Remittances climb up by 13 percent to $5.419b during first quarter of FY19

Remittances from Saudi Arabia grew 2.85 percent to $1.263 billion which was the highest source of remittances in the first quarter of FY19

Pakistani rupee, the cheapest currency in South Asia: Report

The International Monetary Fund (IMF) has currently projected Pakistan’s current account deficit will contract from 5.9 percent of GDP in 2018 (the worst in emerging markets) to 5.3 percent of GDP in 2019 (again the worst in EM)

SBP drafts regulations for EMIs

These regulations outline minimum requirements for establishment and operations of EMIs

Central bank to auction Rs4.9 trillion worth of debt instruments in Oct-December 2018

The raising of the new debt via PIBs and MTBs will help the government to partially plug in the deficit in budgetary financing, which economists worry will be higher than the target of Rs2 trillion for FY19

SBP notifies new rules for recovering loans from defaulted mortgagees

Previously, the banks were only permitted to auction mortgaged property after the conclusion of the due process

Pakistan’s forex reserves decrease by $628mn in a week

The State Bank disclosed that its reserves decreased due to payments on account of external debt servicing.

Syed Amir Ali takes over as CEO of BankIslami

In April, BankIslami had announced Syed Amir Ali would be appointed as the new CEO of BankIslami in place of Hasan A. Bilgrami.

ADB approves access to information policy to ensure transparency

ISLAMABAD: The board of directors of the Asian Development Bank (ADB) has approved a new ‘Access to Information Policy’ that aims to maintain the bank’s...

Mobile banking transactions grow by 195pc

ISLAMABAD: With a significant growth of some 195 per cent, mobile phone banking transactions in Pakistan had crossed the Rs410 billion mark in the last...

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Dearth of economic experts in Finance Ministry irks PM

‘There is not a single ministry official who holds a PhD degree in the field of economics and finance’ ‘Secretaries have mostly been...

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Pakistan ‘gifts’ 15,000 livestock animals to Gulf countries despite ban

'Influentials sitting in important ministries and those belonging to foreign missions were involved in the export after taking permission from former PM Abbasi' ISLAMABAD: Despite a...