May 2

Govt. offices given procedure for closure of commercial bank accounts

ISLAMABAD: The finance division has issued procedure for government offices to close their accounts with commercial banks and transfer of all available funds to treasury single account (TSA). According to official documents made available on Sunday, the finance division said that as per the Cash Management and TSA Rules 2020, the government offices are neither […]

by Mrs. Anjum Shahnawaz

Cash management, Single Treasury Rules implemented

Apr 6

Money & Banking

Cash management, Single Treasury Rules implemented

The State Bank of Pakistan (SBP) announced on Tuesday the implementation of the Cash Management & Single Treasury Account (CM & TSA) Rules, 2020. This significant development aims to enhance the management of public finances by centralizing the treasury operations of the Federal Government.

by Mrs. Anjum Shahnawaz

SBP directs banks to close all government accounts under TSA

Oct 7

Money & Banking

SBP directs banks to close all government accounts under TSA

KARACHI: State Bank of Pakistan (SBP) has started implementing Treasury Single Account (TSA) and directed all banks to close all accounts related to government authorities. In a communication issued on Wednesday, the SBP said that the Finance Division, Government of Pakistan (GoP) vide their letter F.No.1(1)/S.O(TSA)/2020 dated August 19, 2020 has directed all Federal Government […]

by Mrs. Anjum Shahnawaz

Rules for treasury single account system notified

Jul 31

Finance

Rules for treasury single account system notified

ISLAMABAD: The ministry of finance has notified Cash Management and Treasury Single Account Rules, 2020 under which treasury single account system has been explained. According to the rules the Treasury Single Account system shall be: (1) Federal Consolidated Fund Account, Public Account, assignment accounts, their sub-accounts and linked accounts as approved by the Finance Division, […]

by Mrs. Anjum Shahnawaz

Jan 16

Finance

Treasury Single Account to have every penny of public money: finance ministry

ISLAMABAD: Every penny of the public money shall be reverted to the Treasury Single Account (TSA), within the framework of different authorized accounts of government in the State Bank of Pakistan (SBP) or its nominated agency and cash therein shall be zero balanced, the ministry of finance said. According to Budget Manual issued this month […]

by Mrs. Anjum Shahnawaz

Sep 18

Finance

Finance ministry issues 10-year treasury single account policy

ISLAMABAD: The ministry of finance on Wednesday issued 10-year Cash Management & Treasury Single Account Policy with aim to bring every penny into government’s nominated agency. The policy has been issued with the objective of timely availability of cash to meet obligations, economizing on cash within the government so as to save interest costs and […]

by Mrs. Anjum Shahnawaz

Bank deposits reach all time high at Rs13.46 trillion

Jun 19

Money & Banking

Bank deposits reach all time high at Rs13.46 trillion

KARACHI: The deposits of banking system have increased to all time high at Rs13.46 trillion in May 2019. However, the record deposits are at risk as the government planned to create Treasury Single Account (TSA) in the latest budget. The deposits of the banking system have increased by 9.8 percent to Rs13.459 trillion by May […]

by Mrs. Anjum Shahnawaz

Instructions issued for moving public money to treasury single account

Apr 21

Finance

Instructions issued for moving public money to treasury single account

ISLAMABAD: The ministry of finance said that the State Bank of Pakistan (SBP) has been directed to design procedure for bringing back public money from commercial banks to Treasury Single Account (TSA). ‘A Roadmap for Stability and Growth’ issued by the ministry of finance this month, said that the central bank had been instructed to […]

by Faisal Shahnawaz

Stakeholders to be taken onboard on TSA: SBP

Apr 17

Money & Banking

Stakeholders to be taken onboard on TSA: SBP

KARACHI: State Bank of Pakistan (SBP) on Wednesday said that stakeholders would be taken onboard while taking decision on Treasury Single Account (TSA). In a statement, the central bank said that some news are circulating on social media regarding government plans to introduce TSA. While the proposal to introduce TSA is being examined by the […]

by Faisal Shahnawaz

Banking deposits reach all time high at Rs13.45 trillion

Apr 17

Exclusive, Money & Banking

Banking deposits reach all time high at Rs13.45 trillion

KARACHI: The banking deposits have reached to all time high at Rs13.45 trillion by end of March 2019 amid reports of government initiatives of Treasury Single Account (STA). The deposits of the banking system increased to Rs13.456 trillion by March 2019 as compared with Rs12.57 trillion in the same month a year ago, showing growth […]

by Faisal Shahnawaz