KARACHI: State Bank of Pakistan (SBP) on Thursday said that in order to mark the occasion of 70th anniversary of Pakistan-Germany Diplomatic relations, the Government of Pakistan has decided to issue a commemorative coin of even denomination, i.e. Rs.70.
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KIBOR rates on October 14, 2021
KARACHI: State Bank of Pakistan (SBP) on Thursday issued the following Karachi Interbank Offered Rates (KIBOR) on October 14, 2021.
Tenor BID OFFER 1 – Week 7.20 7.70 2 – Week 7.25 7.75 1 – Month 7.29 7.79 3 – Month 7.71 7.96 6 – Month 8.08 8.33 9 – Month 8.37 8.87 1 – Year 8.60 9.10 -
Facilitating return filing: IR offices to work late hours
For facilitating return filing, the Federal Board of Revenue (FBR) has directed the offices of Inland Revenue (IR) to work late hours. The offices will remain open until 12:00 midnight on October 15, 2021, to accommodate individuals and businesses in their efforts to fulfill their tax obligations.
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SBP issues customers exchange rates for October 14
Karachi, October 14, 2021: The State Bank of Pakistan (SBP) has released the official exchange rates for Thursday, October 14, 2021.
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KIBOR rates on October 13, 2021
KARACHI: State Bank of Pakistan (SBP) on Wednesday issued the following Karachi Interbank Offered Rates (KIBOR) on October 13, 2021.
Tenor BID OFFER 1 – Week 7.19 7.69 2 – Week 7.23 7.73 1 – Month 7.28 7.78 3 – Month 7.71 7.96 6 – Month 8.06 8.31 9 – Month 8.36 8.86 1 – Year 8.61 9.11 -
SBP issues customers exchange rates for October 13
Karachi, October 13, 2021 – The State Bank of Pakistan (SBP) has released the latest exchange rates for various foreign currencies against the Pakistani Rupee (PKR) on Wednesday, October 13, 2021.
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KIBOR rates on October 12, 2021
KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the following Karachi Interbank Offered Rates (KIBOR) on October 12, 2021.
Tenor BID OFFER 1 – Week 7.20 7.70 2 – Week 7.25 7.75 1 – Month 7.29 7.79 3 – Month 7.71 7.96 6 – Month 8.07 8.32 9 – Month 8.37 8.87 1 – Year 8.61 9.11 -
SBP issues customers exchange rates for October 12
Karachi, October 12, 2021: The State Bank of Pakistan (SBP) has issued the official exchange rates for Tuesday, October 12, 2021.
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KIBOR rates on October 11, 2021
KARACHI: State Bank of Pakistan (SBP) on Monday issued the following Karachi Interbank Offered Rates (KIBOR) on October 11, 2021.
Tenor BID OFFER 1 – Week 7.21 7.71 2 – Week 7.25 7.75 1 – Month 7.29 7.79 3 – Month 7.71 7.96 6 – Month 8.06 8.31 9 – Month 8.36 8.86 1 – Year 8.61 9.11 -
SBP softens conditions for renewable energy financing
KARACHI: The State Bank of Pakistan (SBP) has relaxed financing conditions to promote investment in renewable energy solutions by companies.
The SBP in a statement on Monday said that it had softened the conditions for renewable energy solution providers under its Refinance Scheme for Renewable Energy.
Now, all Renewable Energy Investment Entities (RE-IEs) interested in installing renewable energy projects/solutions are allowed to avail refinance under category III of the scheme.
An RE-IE is a business entity (including vendors and suppliers) whose business is to establish renewable energy projects for onward leasing/renting out/selling on deferred payment basis or selling of electricity generated from these projects to end users.
It may be recalled that with an aim to help address the challenges of energy shortages and climate change, SBP revised its SBP Financing Scheme for Renewable Energy in July 2019.
SBP also launched a Shariah complaint version of the scheme in August 2019. The scheme now comprises of three categories. Under Category I, financing is allowed for setting up of renewable energy power projects with capacity ranging from 1 MW to 50 MW for own use or selling of electricity to the national grid or a combination of both.
Under Category II, financing is allowedto domestic, agriculture, commercial and industrial borrowers for installation of renewable energy based projects/solutions of up-to 1 MW to generate electricity for own use or selling to the grid/distribution company under net metering.
Under Category III, financing isallowed to vendors/suppliers/energy sale companies for installation of wind and solar systems/solutions of up to 5 MW. Since the inception of the scheme,717 projects having potential of adding 1,082 MW of energy supply through renewable sources have been financed. As of June 30, 2021, total outstanding financing under the Scheme is Rs53billion. While there is substantial take up under Category I & II, solution suppliers under Category III faced problems.
Accordingly, in light of the feedback received from stakeholders including renewable energy solution suppliers, Alternate Energy Development Board, NEPRA and banks, the requirement of AEDB certification has been relaxed for RE-IEs who do not undertake installations on their own but hire services of installers/vendors for installation of RE projects/solutions.
However, vendors/ suppliers/engineering procurement & construction (EPC) contractors of these RE-IE will still be required to be certified under AEDB certification regulations. It is expected that this revision in category III will further facilitate in production of clean energy.