Pakistan makes substantial progress in completing remaining FATF Action Plan: Hafeez Shaikh

ISLAMABAD: Pakistan has made substantial progress towards completing remaining action plan of Financial Action Task Force (FATF) through increasing the effectiveness of its AML/ CFT Regime, Dr Abdul Hafeez Shaikh, Adviser to... Read more »

Pakistan’s foreign exchange reserves increase by $819 million

KARACHI: The liquid foreign exchange of the country increased by $819 million to $18.79 billion by week ended July 03, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange... Read more »

Finance ministry issues strategy for release of funds for development budget

ISLAMABAD: The finance ministry on Wednesday issued strategy for release of funds for development budget during fiscal year 2020/2021. The undersigned is directed to refer to the subject mentioned above and to... Read more »

Government borrowing from commercial banks rises to Rs2,413 billion in 2019/2020

KARACHI: The federal government has borrowed Rs2,413 billion from commercial banks during fiscal year 2019/2020 as against retirement of Rs771.6 billion in the preceding fiscal year, according to statistics released by State... Read more »

Trade deficit narrows by 27pc in 2019/2020

ISLAMABAD: Pakistan’s trade deficit narrowed by 27 percent to $23.18 billion in fiscal year 2019/2020 as against the deficit of $31.8 billion in the preceding fiscal year, Pakistan Bureau of Statistics (PBS)... Read more »

National Savings raises profit rates

ISLAMABAD: The Central Directorate of National Savings (CDNS) on Thursday raised profit rates of saving schemes. A statement issued by the CDNS stated that all the profit rates of bearer certificates had... Read more »

Pakistan’s weekly foreign exchange reserves increase by $1.24bn

KARACHI: The foreign exchange reserves of the country increased by $1.24 billion to $17.97 billion by week ended June 26, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange... Read more »

Date extended to exchange Rs40,000 bearer prize bonds

ISLAMABAD: The ministry of finance on Thursday extended the last date to exchange bearer prize bonds of Rs40,000 denomination up to December 30, 2020. The last date to exchange the bearer prize... Read more »

EOBI pension increases to Rs8,500; pensioners to get arrears

ISLAMABAD: The federal cabinet has approved increase in pension of Employees Old-Age Benefits Institution (EOBI) to Rs8,500 from Rs6,500. According to a tweet by EOBI on Wednesday, the federal cabinet approved an... Read more »

Headline inflation increases by 8.6 percent in June

ISLAMABAD: The headline inflation based on Consumer Price Index (CPI) increased by 8.6 percent on Year on Year (YoY) basis in June 2020 as compared to an increase of 8.2 percent in... Read more »