The Sports Board Punjab (SBP), on the directions of Director General Javed Chohan, has started schedule-wise cleaning and maintaining of all sports venues and stadiums of the province. The SBP DG said on Thursday that in the first phase, the ground 2 of National Hockey Stadium is being washed with the help of modern machinery. … Read more
KARACHI: Pakistan’s external debt and liabilities have increased $13 billion, or 11.4 per cent, during the last one year, according to the statistics released by the State Bank of Pakistan (SBP) on Thursday. The outstanding debt and liabilities of the country stood at $127 billion by September 2021, compared with $114 billion over the same … Read more
KARACHI: The rupee recovered six paisas against the dollar on Thursday, amid mounting demand for external payments, dealers said. The exchange rate closed at Rs174.98 to the dollar from the previous day’s closing of Rs175.04 in the interbank foreign exchange market. The dealers said the dollar demand for import and corporate payments remained high during … Read more
KARACHI: The State Bank of Pakistan (SBP) has projected the real GDP growth at 4 per cent to 5 per cent for the current fiscal year, as per the actual target set for the fiscal year. However, the current account deficit has been projected at up to 3 per cent of the GDP as against … Read more
KARACHI: The rupee witnessed a decline of 74 paisas against the dollar on Wednesday, as external payments jacked up the demand for the foreign currency, dealers said. The exchange rate ended at Rs175.04 against the greenback from the previous day’s closing of Rs174.30 in the interbank foreign exchange market. The dealers said the demand for … Read more
KARACHI: The State Bank of Pakistan (SBP) has issued revised “Corporate Governance Regulatory Framework” with the objective to further strengthen the corporate governance regime of banks and the DFIs and to align the same with international standards and best practices. The framework, which has been developed in consultation with the key stakeholders, covers Fit and … Read more
KARACHI: The bank customers would be receiving at least a 7.25 percent interest rate on their saving account from December 01, which is followed by a hike in the policy rate to 8.75 percent, stated State Bank of Pakistan (SBP). In a series of tweets SBP shared the details of the policy rate for bank … Read more
KARACHI: The minimum rate of return on saving accounts has increased to 7.25 percent with the rise in the key policy rate by 150 basis points to 8.75 percent. The State Bank of Pakistan (SBP) in a Tweet said, as a result of the SBP policy rate increase announced on Friday, November 19, 2021, and … Read more
KARACHI: The State Bank of Pakistan (SBP) on Monday clarified news reports related to average inflation forecasts. The SBP said that in some sections of the media, SBP’s average inflation forecast of 7-9 per cent in FY22 is being interpreted as the ‘inflation target’ and being compared to the inflation targets of other countries. This … Read more
KARACHI: The rupee gained 46 paisas against the dollar on Monday, amid a highly volatile trading session, dealers said. The exchange rate ended at Rs174.77 against the dollar, compared with Rs175.23 in the interbank foreign exchange market. The dealers said the market opened with a sharp rise in the rupee value; following the monetary policy … Read more
KARACHI: State Bank of Pakistan Governor Dr Reza Baqir chaired a meeting with FIA Director General Sanaullah Abbasi to strengthen and coordinate efforts of the SBP, banks and Federal Investigation Agency (FIA) to fight money laundering, cyber-attacks and online frauds. The meeting was also attended by the presidents of banks and senior officers of the … Read more
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has expressed concern over the State Bank of Pakistan’s (SBP) decision to raise the key policy rate by 150 basis points to 8.75 percent, a statement said. “Availability of equity to the business community has been made dearer with a single stroke of pen,” LCCI president … Read more
KARACHI: The Pakistan stocks are expected to come under pressure after the State Bank of Pakistan (SBP) increased the benchmark interest rates by 150bps against the general consensus of 100bps to 8.75 per cent, dealers said. An analyst at AKD Securities said the news of the current account deficit deteriorating to $1.7 billion would also … Read more
KARACHI: The State Bank of Pakistan (SBP) on Friday declared an upsurge of 150 basis points in its policy rate to hold rising inflation, which intimidates to undermine the economy of Pakistan. The SBP stated that the conclusion to escalate the interest rate to 8.75% is taken due to dangers linked to inflation. According to … Read more
ISLAMABAD: The lawmakers on Wednesday gave an approval to amend the Banking Services Corporation Ordinance Bill, 2001, in a joint session of the Upper and Lower houses. The bill not only weaken the Finance Ministry’s control on the State Bank but also cleared one of the major hurdles to revive a $6 billion International Monetary … Read more
LAHORE: The State Bank of Pakistan (SBP) should act as an autonomous body and operate independently through its schemes and policies, an official said. The Monetary policy should be treated as a public policy and there should not be any political intervention in the business of the central bank, Sustainable Development Policy Institute (SDPI) executive … Read more
The State Bank of Pakistan (SBP) on Tuesday denied any change in the design of currency notes. Taking to Twitter, the central bank said that photos and videos of new notes circulating on social media were fake and that no such proposal was under consideration. “SBP categorically denies the news and clarifies that no such … Read more
KARACHI: The State Bank of Pakistan (SBP) has introduced regulatory measures to enhance transparency in the foreign currency transactions by the exchange companies and to curb undesirable outflow of foreign currency, a statement issued by the central bank said. The regulatory measures included persons travelling to Afghanistan will be allowed to carry only $1,000/person/visit with … Read more
LAHORE: The Lahore Chamber of Commerce and Industry has urged the State Bank of Pakistan (SBP) to make appropriate market interventions to curb the dollar flight, a statement said. LCCI president Mian Nauman Kabir, senior vice president Mian Rehman Aziz Chan and vice president Haris Ateeq said that the rupee fall has far-reaching implications, including … Read more
BRUSSELS: The State Bank of Pakistan (SBP) has launched ‘Roshan Apna Ghar’ Scheme for non-resident Pakistanis for acquisition of residential and commercial properties in the country, a diplomat said. During the 9th Khuli Katchery, organised by the Pakistan Embassy in Brussels, in a virtual format with the Diaspora in Belgium, and Luxembourg, Ambassador of Pakistan … Read more
KARACHI: The National Institute of Banking and Finance (NIBAF), a subsidiary of the State Bank of Pakistan (SBP), in collaboration with the International Rescue Committee (IRC) convened an event, “Empowering Girl’s through Financial Literacy”, to advocate for girl’s education and financial literacy and celebrate achievements under their partnership. Key government stakeholders, as well as personnel … Read more
LAHORE: Director General (DG) Sports Board Punjab (SBP) Adnan Arshad Aulakh Friday said Punjab’s Under-17 Boys and Under-16 Girls athletics teams were showing significant improvement in their performance and fitness during the week-long training camp, here at the Punjab Stadium. He lauded the stamina and game skill of Punjab’s young male and female athletes and … Read more
LAHORE: The selection committee of Sports Board Punjab (SBP) conducted trials of provincial Under-17 football team at the Punjab Stadium, on Saturday. The selected team will participate in Inter-Provincial Football Youth Tournament, scheduled to be organised in Gilgit-Baltistan in the middle of next month. SBP Director General (DG) Adnan Arshad Aulakh visited Punjab Stadium to … Read more
LAHORE: The Sports Board Punjab’s expert coaches and trainers gave final touches to preparation for Punjab’s Under-17 Boys and Under-16 Girls athletics teams on the last day of 7-day training camp at Punjab Stadium here on Saturday. It may be recalled here that Punjab’s Under-17 Boys and Under-16 Girls athletics teams undergo rigorous training at … Read more
Export freight expenditure on domestic exports has declined on an annual basis during the first two months of the current financial year. According to the SBP report, between July and August this year, freight expenditure on domestic exports was 40.27 million, which is 23.93 percent less than the same period of the previous financial year. … Read more
ISLAMABAD: State Bank of Pakistan’s Deputy Governor Sima Kamil urged the ‘financial sector to realise its role as a key player’ for the promotion of regulatory policy that focus on women’s access to finance and digital financial inclusion. “The financial sector also needs to realise its role as a key player in advancing regulatory policy … Read more
BEIJING: To commemorate the 70th anniversary of establishment of diplomatic relations between Pakistan and China, the People’s Bank of China has issued special commemorative coins to mark this important milestone in the history of bilateral ties. The gold and silver coins of 10 and 100 RMB denomination weigh 8 and 30 grams, respectively. The backside … Read more
KARACHI: The State Bank of Pakistan (SBP) on Monday announced a 25 basis points increase in the key policy rate to 7.25 per cent. The central bank said the Monetary Policy Committee (MPC) in its meeting decided to raise the policy rate by 25 basis points to 7.25 per cent. Since its last meeting in … Read more
