KARACHI: The liquid foreign exchange reserves of the country slipped $206 million to $22.669 billion by the week ended March 4, 2022, the State Bank of Pakistan (SBP) said on Thursday. The country’s foreign exchange reserves stood at $22.875 billion a week ago, i.e., February 25, 2022. The official forex reserves of the central bank … Read more
KARACHI: The rupee ended firmer against the dollar on Monday, amid foreign currency demand for import payments, dealers said. The exchange rate ended at Rs174.47 against the greenback from last Friday’s closing of Rs174.48 in the interbank foreign exchange market. The dealers said the market witnessed dollar demand for import payments, as the market opened … Read more
KARACHI: The rupee ended flat against the dollar on Monday, amid high demand for the foreign currency for external payments, dealers said. The rupee ended at Rs176.68 against the dollar from last Friday’s closing of Rs176.67 in the interbank foreign exchange market. The dealers said the dollar demand remained high during the day, as the … Read more
KARACHI: The Federal Board of Revenue (FBR) on Monday deferred the mandatory digital payment system for corporate entities till January 31, 2022. The FBR issued a circular for the extension in time for the implementation of digital payment for corporate entities. It is the third time the revenue board has extended the time of implementation. … Read more
RIYADH: Saudi Arabia issued licenses to 16 fintech companies in the third quarter of 2021, Sabq quoted Saudi Central Bank governor, as saying at an event. Fahad Almubarak said 13 of those companies work in the field of payments and electronic wallets, and three firms are engaged in insurance and finance sector. Saudi Arabia witnessed a 37 … Read more
KARACHI: Mastercard has signed a strategic partnership with the Pakistani intelligent transport systems provider, One Network, to digitalise the country’s road toll payments network, an official said. The partnership was signed at the Pakistan Pavilion in Expo 2020 Dubai, where Mastercard is the official payment technology partner, in the presence of Frontier Works Organisation, Pakistan’s … Read more
KARACHI: The State Bank of Pakistan (SBP) on Thursday notified revision in the foreign exchange instructions pertaining to commercial remittances with the objective of promoting ease of doing business and facilitating legitimate cross-border commercial payments on account of services. The SBP has revised the policy on remittance of RFT fees. The banks have been delegated … Read more
Saudi Finance Minister Muhammad al-Jadaan said that 42 countries have asked the G20 to take steps to freeze debt service payments. [embedpost id=”50366″ slug=”pakistan-will-continue-to-fight-for-justice-for-kashmiris”] The G20 will consider extending the debt freeze initiative beyond 2020, Saudi Finance Minister The IMF has approved 77 requests for USD 80 billion in aid, Group of Twenty. Coronavirus epidemic has … Read more
Payments under Ehsaas Emergency Cash Programme, introduced by the federal government to help the poor and deserving people facing hardship because of the coronavirus lockdown, will start Thursday today. The Ehsaas Emergency Cash Programme will help 12 million families by providing them financial assistance of Rs. 12,000 per family. The total budget approved for this … Read more
Sui Southern Gas Company (SSGC) has issued separate orders for rich and poor. According to the sources, the audit report 2017-18 has been released in which it was suspected that influential customers had been given relieves. Debts worth over 147 billion 289 crores were not received, as per the audit report. Consumers of power sectors … Read more
