Money and banking drive economic activity by facilitating transactions, savings, and investments. Banks manage financial resources, offer credit, and regulate money supply, ensuring stability and growth in Pakistan’s financial sector.
Karachi, June 15, 2023: The Pakistani Rupee (PKR) experienced a decline against the dollar on Thursday, primarily driven by looming default threats and concerns over the country’s foreign exchange reserves.
(more…)
Karachi, June 15, 2023 – The State Bank of Pakistan (SBP) has issued a reminder to investors holding bearer prize bonds, stating that they have only 15 days left to redeem their bonds.
(more…)
In a recent development, concerns have been raised by experts regarding the proposed immunity in the Finance Bill, 2023, which allows individuals to bring dollars into Pakistan.
(more…)Karachi, June 14, 2023: The Pakistani Rupee (PKR) saw a significant increase of 79 paisas against the US dollar on Wednesday in the interbank foreign exchange market.
(more…)
Islamabad, June 9, 2023: Pakistan has introduced a withholding tax of up to 10 percent on individuals making foreign payments through debit and credit cards. Finance Minister Ishaq Dar announced the increase in tax rates during the presentation of the budget for the fiscal year 2023-24 on Friday.
(more…)Karachi, June 9, 2023: The Pakistani Rupee (PKR) experienced a 12 paisas depreciation against the dollar on Friday, primarily due to the sharp reduction in the country’s foreign exchange reserves.
(more…)
Islamabad, June 8, 2023: The Pakistan Economic Survey 2022-23 disclosed on Thursday that in the absence of external financing, Pakistan relied on internal resources to meet its budget deficit, placing significant pressure on domestic commercial banks.
(more…)After four consecutive day fall the Pakistan Rupee (PKR) on Thursday recovered against the US Dollar. The recovery was attributed to an influx of export receipts and importers adopting a cautious approach in anticipation of the budget announcement.
(more…)Karachi, June 7, 2023: The Pakistani Rupee (PKR) has experienced a fourth consecutive session of losses against the US dollar, closing at PKR 286.88 in the interbank foreign exchange market on Wednesday.
(more…)Karachi, June 7, 2023 – The State Bank of Pakistan (SBP) has announced an extension of the facility that allows freelancers in the Information Technology (IT) sector to retain 35% of their export earnings in their foreign currency (FCY) accounts.
(more…)