Banking industry’s deposits have declined by Rs. 710 billion in July, mainly due to customers panicking and withdrawing money from their accounts due to FBR’s recent tax reforms. ISLAMABAD - Massive withdrawal of Rs 700 billion reported from Pakistani Banks in thirty days time period. State ...

ISLAMABAD - PTI government manages to achieve a $1 billion economic success at start of FY 2019 with the trade deficit. The trade deficit has contracted by 29pc in the first month of this fiscal year, with the government claiming this fall represents their move to curtail all non-essential luxury ...

ISLAMABAD - After receiving inflows of US$500 million from the Asian Development Bank (ADB), the country’s total liquid foreign reserves held by the country stood at US$15,577.5 million as on August 09, 2019, State Bank of Pakistan (SBP) reported Saturday. The foreign reserves held by the State ...

ISLAMABAD - A $4 billion blow to Pakistan from the international front by the Australian copper company over infamous Rekodiq case. It asked a D.C. federal court Friday to confirm a damages award of more than $4 billion issued against Pakistan in a dispute over the denial of a mining lease in the ...

LAHORE – Federal Minister for Railways Sheikh Rashid Ahmad has announced that Sindh Express will be inaugurated after Eid in Multan. Addressing a press conference at the Railways headquarters in Lahore on Saturday afternoon, he said that work on the ML-1 project will be started soon. He also ...

NEW DELHI - Chemicals and dye-stuff exporters to Pakistan stare at a business loss of Rs 3,000 crore as a result of deterioration in diplomatic relations between India and Pakistan. Of these close to Rs 1,000 crore loss is because of uncertainty in payments of the goods already supplied ...

ISLAMABAD - Rs 284 billion fresh currency notes issued by the State Bank of Pakistan (SBP). SBP through 16 field offices of its subsidiary SBP Banking Services Corporation (SBP BSC), has issued fresh banknotes of various denominations aggregating to Rs. 284 billion, including Rs. 274 billion via ...

*ISLAMABAD: *The State bank of Pakistan, for the first time in its history, has imposed Rs186 million fine on four banks owing to non-implementation of anti-money laundering (AML) laws. Documents available with this scribe disclosed that the central bank has decided to charge four commercial ...

KARACHI: State Bank of Pakistan on Friday injected Rs 2416.5 billion into money market for seven days as reverse repo purchase through its open market operation. All 26 bids offered were accepted. The rate of return accepted is 13.36 percent per annum, said a SBP statement.

ISLAMABAD – The federal government’s move for documentation of economy is paying off. According to report, investors sold Rs 40,000 bonds during June 2019. The selling step up in Rs 40,000 bonds amounted to Rs 65 billion in June 2019, and investment in 40,000 bonds now stands around Rs 194 ...