SBP News

QUETTA –  State Bank of Pakistan (SBP) Governor Ashraf Mahmood Wathra on Monday criticised the stakeholders for their poor performance in Balochistan and said that statistics of financial institutions in the province were not encouraging. This parameter of enactment cannot be kept unremitting, the SBP governor said while talking to presidents and chief executive officers […]

KARACHI: Pakistan´s “war on terror” has cost the developing country a whopping $118 billion so far, a new central bank report has said, an amount equivalent to well over one third of its gross domestic product. The central State Bank of Pakistan (SBP) released its annual report on Thursday showing extremist violence cost the country […]

KARACHI – Governor, State Bank of Pakistan Ashraf Mehmood Wathra on Thursday showed his confidence that the country’s economy was moving on right path and the loan from International Monetary Fund (IMF) would be repaid as per schedule. Briefing media here at the State Bank’s Head Office, the SBP governor said the foreign exchange reserves of the […]

ISLAMABAD: State Bank of Pakistan (SBP) revealed that Pakistan did not slash prices of petroleum products in accordance with international prices.  According to documents received by SAMAA, crude oil was traded at $112 per barrel in April 2013 with Pakistan selling petrol at Rs.102 per liter then. Three years down the line, the crude slumped […]

KARACHI: The State Bank of Pakistan has cancelled the license of M/s East West Exchange Company-B (Pvt.) Limited after it requested for voluntary liquidation. In a press statement, SBP said the license has been cancelled with with immediate effect. It further said that the said exchange company, its head office and branches have been debarred […]

KARACHI: In line with analysts’ expectation, the State Bank of Pakistan (SBP) maintained the target rate on Saturday at 5.75% for the next two months. Addressing a press conference, SBP Governor Ashraf Wathra termed the increase of Rs461 billion in private-sector credit in 2015-16 (as opposed to Rs224 billion in 2014-15) “remarkable”. “This indicates that existing […]

KARACHI: State Bank of Pakistan Governor Ashraf Mahmood Wathra will announce monetary policy for next two months on Saturday. In the previous Monetary Policy Statement in May the interest rate was reduced by 25 basis points from 6 per cent to 5.75pc. Little is expected to be changed since the economic horizon has largely been […]

KARACHI: In order to understand why everyone seems to suggest that low monetary policy rate would fuel inflation, we need to go to basic economics. However, given complex cultural and institutional dynamics at play in Pakistan, the conditions needed for this prediction to be realised are not present. Under the general inverse curve, where flow of […]

ISLAMABAD: The Supreme Court has noted that the government`s Nov 3, 2015 notification for paying Rs20 billion in subsidies under the Prime Minister`s Kissan Package to manufacturers of single super phosphate fertiliser lacl(s the backing of any statute or rule. `This fiat of the governance was not supported by precedent,` Justice Qazi Faez Isa said […]

KARACHI: The latest monetary policy statement issued by the State Bank of Pakistan (SBP) brought down the benchmark interest rate by 0.25% to a record low of 5.75% – a move that took most SBP watchers by surprise. Dawn called it ‘odd’. Business Recorder termed it ‘oxymoronic’. After all, the statement says inflation is expected to […]