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Monthly Archives: June, 2020

SBP Releases Service Charges for Banks on Deposit

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State Bank of Pakistan (SBP) has released banks' service charges to deposit re-issuable balances to promote banks' ability to handle the excess liquidity. Following large volumes of withdrawals...

Pakistani Banks’ international branches Witnessed 12.06% Rise in NPLs

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Pakistani banks working in different countries have seen a 12.06% or Rs. 13.5 billion increase in non-performing loans for their foreign operations during 2019. As per the...

Government to Use Data of DISCOs, telecom cos for Broadening of Tax Base

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The government has agreed to use data from power distribution companies (DISCOs) and telecommunications firms for tax base expansion by making a fully electronic sales tax...

Bank Loans worth Rs2.5 Trillion at Risk

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The Covid-19 pandemic, which is still battering Pakistan's economy, has jeopardized bank loans worth more than Rs2.5 trillion, with declining resilience of small banks and increasing...

ECC Approves Rs. 100 million for Locust Control in Punjab

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The Economic Coordination Committee (ECC) of the Cabinet has approved a Rs. 100 million grant for the locust control in Punjab. Adviser to the Prime...

Sindh Cabinet approves Rs1.24 trillion budget proposals for FY 2020-21

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The Sindh Cabinet on Wednesday approved Rs1.24 trillion budget proposals for the next financial year 2020-21 in the pre-budget cabinet meeting held at the...

Real Estate and Construction Industries Wins Relief

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The real estate and construction sector remained the main focus of the government of Pakistan Tehreek-e-Insaf (PTI) in the FY21 budget, as it reduced taxes and...

Manufacturers Warn of Huge Job Losses

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The Federal Budget Speech 2020-21 has been characterized as nonsensical by textile industry leaders and industrialists, and no relief has been announced for the textile industry...

Govt Increases FBR’s Revenue Targets by Rs. 1 Trillion

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The government has set Rs. 4,963 billion as the revenue collection target of the Federal Board of Revenue (FBR) for 2020-21 against a revised...

SBP Reserves Fall $266m to $10.1b: Foreign Exchange

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According to data released on Thursday by the State Bank of Pakistan (SBP), the foreign exchange reserves held by the central bank decreased 2.57 per cent...
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