The Institute of Cost and Management Accountants of Pakistan (ICMAP) has urged the State Bank of Pakistan (SBP) to lower the key policy rate from the current 13% to 11%, advocating for a strategic reduction of 200 basis points (bps) to reinvigorate economic activity, boost investment, and restore confidence in Pakistan’s economy.
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Investment in Registered Prize Bonds Rises to Rs 58.65 Billion
Karachi, January 25, 2025 – Investment in registered prize bonds has seen a remarkable surge, reaching Rs 58.65 billion by November 2024, according to the latest data released by the State Bank of Pakistan (SBP).
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Massive Bank Withdrawals Amid Looming Tax Restrictions
In December 2024, Pakistan witnessed a staggering Rs 862 billion in bank withdrawals, highlighting a rising wave of uncertainty among account holders.
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SBP Announces Forex Rates in PKR for January 24, 2025
On January 24, 2025, the State Bank of Pakistan (SBP) announced the official foreign exchange rates for customers. These rates, based on the weighted averages of commercial banks, act as a key reference for cross-border transactions, facilitating international trade and commerce.
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Pakistan Sees $262 Million Drop in Weekly Forex Reserves
Karachi, January 23, 2025 – The foreign exchange reserves of Pakistan have registered a decline of $262 million during the week ending January 17, 2025. The decrease underscores the ongoing challenges faced by the country in maintaining its external financial stability.
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SBP Announces Forex Rates in PKR for January 23, 2025
On January 23, 2025, the State Bank of Pakistan (SBP) announced the official foreign exchange rates for customers. These rates, based on the weighted averages of commercial banks, act as a key reference for cross-border transactions, facilitating international trade and commerce.
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Analysts Anticipate SBP Policy Rate Cut to 12%
Analysts at Arif Habib Limited predict that the State Bank of Pakistan (SBP) is likely to further reduce the policy rate to 12% in the upcoming monetary policy announcement.
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Banks Witness Rs862Bn Withdrawals Amid Non-Filer Restrictions
Karachi, January 23, 2025 – Banks in Pakistan experienced a massive withdrawal of Rs 862 billion during December 2024 as the government prepared to impose stringent restrictions on non-filers of income tax returns. This significant outflow highlights the uncertainty and apprehension among account holders in response to impending policy changes.
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SBP Announces Forex Rates in PKR for January 22, 2025
On January 22, 2025, the State Bank of Pakistan (SBP) announced the official foreign exchange rates for customers. These rates, based on the weighted averages of commercial banks, act as a key reference for cross-border transactions, facilitating international trade and commerce.
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SBP Alerts Public on Illegal Foreign Currency Transactions
Karachi, January 22, 2025 – The State Bank of Pakistan (SBP) has issued a stern warning to the general public against engaging in illegal transactions of foreign currency. Highlighting the risks and legal consequences, the SBP emphasized the importance of conducting all foreign exchange activities through authorized channels.
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