Tag: state bank of pakistan
Pakistan: Pakistan: Power consumers to pay more from July as govt increases peak hours duration
ISLAMABAD: In a bid to meet the conditions of the International Monetary Fund (IMF), the Pak government has decided to increase the duration of electricity’s…
Pakistan: New USD 3 billion loan programme to help Pakistan’s efforts in stabilising its ailing economy: IMF
ISLAMABAD: The IMF has said that the recently approved USD 3 billion loan programme will provide much-needed relief for Pakistan as it would anchor the…
Remittances Sent: Pakistan lost over $4bn in remittances due to rate cap, political and economic uncertainty
NEW DELHI: Remittances sent to cash-strapped Pakistan fell by 13.6% (or $4.254 billion) in 2022-23 compared to the last financial year, according to data released…
Pakistan hikes rate to record high for IMF loan
ISLAMABAD: Pakistan’s central bank unexpectedly raised its benchmark rate to a record high in an emergency meeting as the nation makes a final attempt to…
First shipment of discounted Russian crude oil arrives in Karachi: Pak PM Shehbaz Sharif
ISLAMABAD: The first shipment of discounted Russian crude oil has arrived at the port city of Karachi, Pakistan Prime Minister Shehbaz Sharif announced on Sunday,…
Pakistan: Pakistan eyes no interest under Islamic banking by 2027: Official
ISLAMABAD: Pakistan aims to eliminate interest from its banking system under the Islamic Sharia law by 2027, the country’s top banker said on Monday. Addressing…
Remittances sent by Pakistani expats reach $2.5 billion in March: Central bank
ISLAMABAD: Pakistani expatriates sent home $2.5 billion in remittances in March, a seven-month high, the State Bank of Pakistan said on Monday, as the cash-strapped…
Pakistan: Pakistan central bank raises rate 100bps to 21% to curb inflation
KARACHI: Pakistan’s central bank raised its key interest rate by 100 basis points to its highest-ever level on Tuesday, as the cash-strapped country bids to…
Pakistan central bank raises rate by 100 bps to 21% to rein in inflation
KARACHI: Pakistan‘s central bank raised its key interest rate by 100 basis points to its highest-ever level on Tuesday, as the cash-strapped country bids to…
Pakistan: Pakistan forex reserves up $280 million to $4.6 billion on March 17
KARACHI: Pakistan‘s foreign exchange reserves held by the central bank increased by $280 million to $4.598 billion during the week ending March 17, after receiving…