ISLAMABAD ( Web News ) Overseas Pakistanis have so far remitted over US $ 2.4 billion through more than 250,000 Roshan Digital Accounts (RDAs) from 175 countries. Out of these, more than US $1.6 billion have been invested in Naya Pakistan Certificates (NPCs). This was stated by Consul General of Pakistan, Toronto (Canada),Read More →
Current Account Deficit Widens To $3.4 Billion In First Quarter Of FY22 In the month of Sept-2021, the quantum of current account deficit has squeezed in comparison with Aug-2021 ISLAMABAD ( JAVED MAHMOOD ) The current account deficit of Pakistan in the first quarter (July-Sept 2021) period of this fiscalRead More →
ISLAMABAD ( Web News ) The Huawei Pakistan IP Club Carnival 2021 took place where ICT experts gathered to share the latest network technology trends and discover how enterprises can best adapt to the intelligent era based on next-generation networks, algorithms, and AI capabilities. The event was attended by Mr.Read More →
Fitch Predicts Average Dollar-PKR Parity Around Rs180 In 2022 On August 26, 2020, the dollar hit Rs168.43. Then it started declining and reached Rs151.83 on May 14, 2021. However, the greenback started rising and has appreciated by 6.6 per cent and 9.9pc since June and May 14, 2021, respectively. ISLAMABADRead More →
ISLAMABAD (PRESS RELEASE) Sardar Yasir Ilyas Khan, President, Islamabad Chamber of Commerce and Industry has expressed displeasure over the decision of the State Bank of Pakistan (SBP) to increase the policy interest rate from 7% to 7.25% as it would further increase the credit cost for the private sector, affectRead More →
ISLAMABAD ( Web News ) The State Bank of Pakistan (SBP) has launched a gender mainstreaming policy titled “Banking on Equality: Reducing the Gender Gap in Financial Inclusion”, which aims at reducing the gender gap in financial inclusion and improving women’s access to financial services. President Dr Arif Alvi unveiledRead More →
Remittances Depict 10-Year High 27% Growth In Aug 2021 With $2.66 Billion Inflows: State Bank In terms of growth, remittances increased by 26.8 percent (y/y) in August, which is a decade high growth rate for that month. On a m/m basis, inflows were marginally lower than in July, reflecting theRead More →
LAHORE ( Web News ) A signing ceremony was held at the State Bank of Pakistan head office to appoint the Bank of Punjab (BOP) as agent bank for the collection of Government receipts in Balochistan. The ceremony was attended by Mr. Jamil Ahmed-Deputy Governor State Bank of Pakistan andRead More →
The neo-liberal economic order as enshrined in the Washington Consensus and implemented vigorously by the IMF has never worked in the past and will not work in the future as well. ISLAMABAD ( JAVED MAHMOOD ) Dr Ashfaque H. Khan, former economic adviser and current Dean of the NUST SchoolRead More →
IMF is expected to disburse $2.8 billion for Pakistan on 23rd of August, which will boost State Bank’s reserves to record high level ISLAMABAD ( JAVED MAHMOOD ) On 23rd of August, 2021, the International Monetary Fund is expected to provide $2.80 billion to Pakistan under its $650 billion newRead More →
ISLAMABAD (PRESS RELEASE) The Islamabad Chamber of Commerce & Industry (ICCI) has called upon the State Bank of Pakistan’s Monetary Policy Committee (MPC) to make decent cut in policy interest rate while reviewing the monetary policy on July 27, 2021 and bring it down to 3-4% in order to stimulateRead More →
KARACHI ( Web News ) PayFast, the indigenous payments solution by APPS,is now the first payment gateway in the country to receive a commercial license from the State Bank of Pakistan (SBP) under its rules for Payment System Operators / Providers (PSO/PSP). PayFast enables merchants, billers and aggregators to receiveRead More →