SBP Extends Suspension of 0.12% Service Charges for Banks
The State Bank of Pakistan (SBP) has extended the temporary suspension of 0.12 percent service charges on the deposit of re-issuable balances for commercial banks.In order to facilitate banks in managing their excess liquidity, consequent to large volu…
Rupee Drops to Its Lowest Against the US Dollar in 4 Months
The rupee fell to its lowest level in four months against the US Dollar as it breached the level of Rs. 158.Today (June 22), PKR jumped above Rs. 158, closing at Rs. 158.18 against the USD, posting a loss of 67 paisas as compared to Rs. 157.51 on Monda…
Banks Demand Govt to Withdraw Super Tax
Pakistan Banks’ Association (PBA) on Tuesday asked Finance Minister Shaukat Tarin to amend the Finance Bill 2021 to withdraw 4 percent “Super Tax” applicable on banks through the amended Finance Bill 2021.Ministry of Finance has been informed by the ba…
Govt Wants Domestic Oil Refineries to Upgrade to International Standards
A meeting to review progress on Draft Pakistan Oil Refining Policy 2021 was held at the Ministry of Finance on Tuesday. Federal Minister for Finance and Revenue, Mr. Shaukt Tarin, chaired the meeting. The meeting was attended by the Federal Minister fo…
5 Major Banks Wrote Off Rs. 1.24 Billion in 2018
Five major banks wrote off Rs. 1.24 billion amount in thirty-nine cases during the year 2018.Sources told Propakistani that the State Bank of Pakistan (SBP) has shared a Special Inspection report on write-off cases of five banks including Zarai Taraqia…
Saudi Arabia to Resume Oil Aid Facility to Pakistan
The Kingdom of Saudi Arabia (KSA) has agreed to resume the annual oil aid facility worth nearly $1.5 billion to Pakistan in July, Financial Times reported.The move is part of Riyadh’s efforts to counter Iran’s influence in the region.Last year, the KSA…