The prime minster chaired a review meeting on commodity prices. He directed that Tehsil and District Administration along with Competition Commission of Pakistan should ensure fair prices of food items by taking action against profiteers and mafias to facilitate people.
The meeting was attended by Minister for Planning Asad Umar, Minister for Industries and Production Makhdoom Khusro Bakhtiar, Minister of State for Information and Broadcasting Farrukh Habib, SAPM on Political Communication Dr Shahbaz Gill and senior officers concerned. Finance Minister Shaukat Tareen, Chief Secretary Punjab and Balochistan attended the meeting via video link.
In the meeting, the Prime Minister stressed that the provision of essential commodities to people at affordable prices is top priority of the government.
The Prime Minister directed the provincial Chief Secretaries to ensure action against the negligent officers regarding prices.
The Prime Minister also stressed upon the need to make the existing cell more active in monitoring prices on a regular basis and ensuring their reasonable prices.
KARACHI, July 26, 2021 – The State Bank of Pakistan (SBP) has released the Karachi Interbank Offered Rates (KIBOR) for various tenors on Monday, providing insight into the prevailing borrowing and lending rates in the interbank market.
KARACHI: The Pak Rupee recovered Rs1.09 against the dollar on Monday. The sharp recoverycan be attributed to significant increase in foreign exchange reserves.
The foreign exchange reserves of the country reached $25.128 billion after transfer of $1.04 billion against the proceeds of Eurobond, according to the State Bank of Pakistan (SBP).
Currency experts said that latest measures to impose restrictions for preventing coronavirus spread also helped the rupee to make gains.
The rent received by a person during a tax year shall be charged under income from property. The tax on income from property shall be charged under Section 15 of Income Tax Ordinance, 2001.
The State Bank of Pakistan (SBP) has released the Karachi Interbank Offered Rates (KIBOR) for various tenors on Friday, July 23, 2021, providing a crucial snapshot of the prevailing borrowing costs in the interbank market.
KIBOR serves as a benchmark interest rate that signifies the average interest rates at which banks in Pakistan offer unsecured funds to one another in the interbank market. The rates announced by the SBP on July 23, 2021, are as follows:
Tenor
Bid
Offer
1 – Week
6.94
7.44
2 – Week
6.97
7.47
1 – Month
7.02
7.52
3 – Month
7.13
7.38
6 – Month
7.34
7.59
9 – Month
7.44
7.94
1 – Year
7.53
8.03
These rates provide a snapshot of the current cost of borrowing for different tenors in the interbank market. Financial institutions, businesses, and investors use KIBOR as a crucial reference point to assess prevailing market interest rates. The rates can significantly impact the pricing of various financial products, such as loans and deposits.
The transparency offered by the SBP in releasing these rates aligns with its commitment to maintaining openness in the financial markets and providing essential information for economic analysis.
Market analysts are expected to closely scrutinize these rates to gain insights into the prevailing economic conditions and make informed decisions. The KIBOR rates released by the SBP offer valuable data for financial planning and risk management.
It is essential to note that the rates mentioned represent bid and offer rates for each tenor and are provided in percentage points. The SBP’s commitment to transparency is highlighted through the release of these rates, allowing individuals, businesses, and financial institutions to make well-informed financial decisions.
Interested parties seeking further details are encouraged to visit the State Bank of Pakistan’s official website or reach out to relevant authorities. However, it is crucial to acknowledge that these rates are subject to change based on market conditions, and individuals and institutions are advised to verify the latest rates before making any financial decisions.
The SBP’s dedication to timely rate disclosures ensures that stakeholders can access accurate and up-to-date information for effective financial planning and decision-making.
