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ISLAMABAD: The Awareness and Prevention campaign of National Accountability Bureau (NAB) – ‘Say no to Corruption’ was quite successful in 2017 and will continue this year as well to create awareness in people about the ill effects of corruption. NAB Chairman Justice (Retd) Javed Iqbal on Tuesday said the under the campaign, the bureau has been […]

According to the weekly statement of position of all scheduled banks for the week ended December 22, 2017 deposits and other accounts of all scheduled banks stood at Rs11,964.134 billion after a 1.05 per cent increase over the preceding week’s figure of Rs11,839.149bn. Compared with last year’s corresponding figure of Rs10,663.648bn, the current week’s figure […]

KARACHI: Reversing its earlier decision, the State Bank of Pakistan (SBP) is reported to have allowed dealers the import of 100 per cent cash dollars against the export of other foreign currencies. The central bank restricted the cash dollar import to 35pc through a circular on Jan 1 — a move that resulted in a […]

KARACHI: Moody’s Investors Service said on Tuesday the rupee will likely face ongoing depreciation pressures against the dollar after a five per cent downward adjustment last month. If the rupee depreciates markedly further, the State Bank of Pakistan (SBP) will find it difficult to keep inflation under control, it added. However, Moody’s said if the […]

KARACHI: Moody’s Investors Service said on Tuesday the rupee will likely face ongoing depreciation pressures against the dollar after a five per cent downward adjustment last month. If the rupee depreciates markedly further, the State Bank of Pakistan (SBP) will find it difficult to keep inflation under control, it added. However, Moody’s said if the […]

ISLAMABAD: Amid a policy decision on Friday to allow rupee depreciation, Pakistan and an International Mone­tary Fund (IMF) delegation concluded the first round of discussions on the country’s economy. Now members of the IMF delegation and Pakistan team are taking a two-day break to prepare for the policy-level wrap-up by Dec 13-14. A senior official told […]

KARACHI: Five former senior officials of National Bank of Pakistan (NBP) and two corporate chiefs are in the crosshairs of the National Accountability Bureau (NAB) for allegedly engaging in a fraud to the tune of Rs10.4 billion. The accused include Azgard Nine Ltd CEO Abid Humayun Shaikh and CFO Abid Amin. The company is a […]

Over the past two and a half decades, bank loans to creditworthy private businesses and individuals as a ratio of GDP have been shrinking. This has prompted two central bank researchers to revaluate the worth of both financial market reforms as well as state-directed bank lending in the light of private ownership of the banking […]

KARACHI: Reserves of the State Bank of Pakistan (SBP) decreased by $3.9bn between October and July 21 despite commercial borrowing of more than $4.4 billion in 2016-17. Currency experts said pressure is mounting on the exchange rate as reserves fall. Dealers in the interbank market said the dollar rate, after reversing from Rs108 to Rs105.40, […]

ISLAMABAD – Pakistan’s total tax revenue witnessed gradual increase from 10.6 percent of Grand Domestic Product (GDP) in 2000 to 12.6 percent of GDP in 2016. According to a report released by Asian Development Bank (ADB), Pakistan’s tax revenue in 2005 was 10.1 percent during 2010, while it declined to 9.8 percent in 2013; however, […]