Commercial banks refuse to issue letters of credit to edible oil importers
Edible oil importers, ghee manufacturers told their LoCs can’t be opened at interbank exchange rates. Commercial banks refuse to issue…
State Bank of Pakistan
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Govt may slap flood levy ranging from 1-3% on all imports
Govt also considering windfall tax on lofty profits in banking sector. Govt may slap flood levy ranging from 1-3% on…
Markup rates for export financing raised to 13%
SBP raises export financing markup rates by 200 basis points. Markup rates for export financing raised to 13%. The State…
New Currency Notes with Governor Jameel Ahmad’s Signature to be Issued from Today: SBP
Jameel Ahmad was appointed SBP governor on August 19. New currency notes with Governor Jameel Ahmad’s signature to be issued…
Pakistan’s current account deficit plunges 86% to 19-month low
Pakistan posted deficit of $276 million in November, SBP data shows. Pakistan’s current account deficit plunges 86% to 19-month low….
Pakistan’s remittances drop 14% to $2.1bn in November
Receipts contract by 4.8% in Nov compared to Oct 2022. Pakistan’s remittances drop 14% to $2.1bn in November. Remittances sent…
Alarming: Foreign exchange reserves plunge to lowest since 2019
With the current foreign exchange reserves position, Pakistan has an import cover of less than one month. Alarming: Foreign exchange…
Google Play Store services to continue in Pakistan
The IT minister thanked Finance Minister Ishaq Dar for taking a timely decision. Google Play Store services to continue in…
Pakistanis to be allowed Play Store purchases via credit, debit cards from Dec 1
Google Play to remain available for all users in Pakistan: spokesperson. Pakistanis to be allowed Play Store purchases via credit,…
Gold price jumps over 1% in Pakisan
Gold is considered a hedge against higher inflation and a safe store of value in times of uncertainty. Gold price…