state bank of pakistan
Musharaff told his audience in Washington last week that he enjoys popular support in Pakistan. He said, “when I resigned from my presidency, many, many people were crying in Pakistan. There were six cameramen who were filming me and four of them were crying right in front of me and it was a great distraction because I was speaking at that time.” What he didn’t say is that after he left, nearly 40 million poverty stricken Pakistanis have been crying because of his economic adventurism. Is he popular or infamous?
The State Bank of Pakistan announced Monday that interest rate will remain unchanged at 12.5 percent for near term. Despite signs of modest recovery, the State Bank policy statement was skeptical because the economy lacks the necessary infrastructure and sufficient macroeconomic stability to build on the momentum. Policy statement which sent Pakistan’s leading market, Karachi [...]
The State Bank of Pakistan (SBP) Monday said that foreign investment in Pakistan fell 22 percent to $1.73 billion in the first 10 months of the 2009/10 fiscal year but country’s current account deficit in the same fiscal period narrowed to a provisional $3.060 billion. Foreign investment in Pakistan during the same period last year [...]
Noting a 17 percent increase in remittances, State Bank of Pakistan Wednesday said that Non-Resident Pakistanis have send home nearly $5.7 billion between July 2009 to February 2010. During the same period in previous fiscal year, Pakistanis living abroad had sent $4.9 billion. For economies like Pakistan, funds repatriated by non-residents to family and friends [...]
The State Bank of Pakistan will monitor all foreign exchange transactions with finer granularity to curb outgoing remittances and stabilize value of the Pakistan Rupee, reports on Thursday suggest. Foreign exchange firms in Pakistan are currently required to report transactions above $5,000 at the close of business every day. Transactions below $5,000 were not the [...]
A briefing session at the Association of Builders and Developers (ABAD) on “Housing Finance”, today told that to address the shortage of affordable housing units State Bank Of Pakistan (SBP) has planned a long-term finance facilitation program. Mortgage Refinancing Company (MRC) will be established with the initial investment provided by International Finance Corporation (IFC) of [...]