Announcement of BankHoliday on January 1, 2020. Continue reading State Bank announces Bank Holiday on 1st January
Attention General Public: Sale, purchase and transfer of foreign currency through Hawala or Hundi operators is illegal. – State bank of Pakistan Continue reading State bank of Pakistan warns Public
Rising exports & investment, declining current account deficit, improved fiscal prospects through better tax & non tax collection, market rally, EOBD ranking going up; indicates that Govt reforms are producing positive outcomes to provide relief to public. Moody’s upgrades Pakistan’s outlook to B3 ‘Stable’ from ‘Negative’. The upgradation of outlook to Stable is affirmation of Government’s success in stabilising the country’s economy and laying a … Continue reading Pakistan Economy Stabilises
The Federal Board of Revenue (FBR) has started scrutiny of real estate transactions under one-time tax amnesty to see if they complied with the valuation table, it emerged on Friday. “Any amount paid under the scheme that is higher than the FBR valuation and is not disclosed in annual return by a person will be treated as concealed income,” a senior official at Regional Tax … Continue reading Real estate transactions under FBR’s scrutiny
Governor SBP Dr. Reza Baqir unveiled the commemorative coin of Rs.550 to mark the 550th birth anniversary of Baba Guru Nanak at State Bank of Pakistan. A delegation of Sikh Community led by Sardar Ramesh Singh Khalsa, Patron in Chief Pakistan Sikh Council & Member Prime Minister’s Taskforce for Evacuee Trust Property Board, comprising members of Pakistan Sikh Council and Baba Guru Nanak Darbar also … Continue reading Governor SBP unveils commemorative coin at 550th birth anniversary of Baba Guru Nanak Sahib
Hitting $21 billion USD in sales in a matter of hours. China’s official consumer holiday “Singles’ Day” has just hit a record-breaking high in terms of sales. Singles day (11/11), given the name due to the repeating number one — referring to being single, the day for shopping sees a wide variety of items heavily discounted from both online and offline retailers. The biggest pulls … Continue reading In 96 Seconds Alibaba Sells Record-Breaking $1.43 Billion USD Worth of Goods
Dr. Reza Baqir, Governor, State Bank of Pakistan launched the National Payment Systems Strategy (NPSS) in an event held today at its headquarters in Karachi. President of the World Bank, Mr. David Robert Malpass was the Chief Guest at the event that was attended by key stakeholders including regulators, government entities, banks, telcos, Electronic Money Institutions (EMIs), Payment System Operators (PSOs) and Payment Service Providers … Continue reading SBP Launches National Payment Systems Strategy during Visit of World Bank’s President
Biggest leap ever in ease of doing business ranking of 28 points & that too within just a year of correct economic policies. Pakistan is on the upswing & open for business .. a true treat for any investor! Ease of Doing Business Ranking & GDP Growth, 2010 EODB: Pakistan 85, China 89, Bangladesh 119, India 133 GDP Growth: Pak 1.6%, China 10.6%, Bng, 5.6%, … Continue reading Ease of doing business in Pakistan ranks up 28 places!
The country’s total liquid foreign exchange reserves slightly moved up by $ 44 million to $ 15.186 billion by the end of last week. During the week under review, the State Bank of Pakistan’s reserves increased by $ 79 million to $ 7.893 billion as on October 18, 2019 compared to $ 7.813 billion a week earlier. Reserves held by banks declined by $ 35 … Continue reading Forex reserve increase.
Increase in the price of imported products not only benefited the local businesses but decreased the current account deficit by 64% The country’s current account deficit (cad) in the first quarter of current fiscal year declined by a huge 64% mainly on the back of a 21pc reduction in the imports bill. The State Bank’s latest data issued on Friday showed the current account deficit … Continue reading Imports drop, Exports rise by $99m