Business
SBP likely to increase interest rate 100 bps
Karachi, July 12, 2019: The Monetary Policy Committee of State Bank of Pakistan (SBP) will meet next week on Tuesday, July 16, 2019, at SBP Head Office Karachi to decide about monetary policy rate for the next two months. Governor SBP, Dr Reza Baqir, will unveil the decision of the MPC at a press conference…
Govt confident about timely completion of Coastal Oil Refinery
Islamabad, July 11, 2019: The government is all set to perform groundbreaking of the much-delayed multibillion-dollar coastal oil refinery by end of this year with the confidence that the project, having the capacity to produce 250,000 barrels per day (BPD), would be completed within the scheduled time-frame. Pak Arab Refinery Limited (PARCO) has proposed to…
Standard Chartered Pakistan launches “Sustainability Review 2018”
Key Highlights of the “Sustainability Review 2018”: The Bank has launched a new Community Investment Strategy, Futuremakers by Standard Chartered, empowering the next generation to learn, earn and grow. This strategy builds on the success of our existing community programmes. Karachi, July 11, 2019: Standard Chartered Pakistan launches its annual Sustainability Review, setting out how…
AOB puts audit firm on improvement plan
Islamabad, July 10, 2019: After conducting an inspection of records of a mid-size audit firm, the Audit Oversight Board (AOB) has placed the firm on an action plan with substantive steps to improve its audit quality. The decision to place the firm on an action plan was taken after finalizing the inspection report and giving…
Pakistan receives record $21.8 workers’ remittances in FY19
Karachi, July 10, 2019: Overseas Pakistani workers remitted the US $21.85 billion during FY19 showing a growth of 20 compared with the US $19.9 billion received during the same period in the preceding year. Pakistan is already facing a balance of payment crisis and it needs massive external inflows to overcome from this crisis. Home…