Business
SBP increases policy rate by 150 bps
Karachi, May 20, 2019: The State Bank of Pakistan has announced to increase the policy rate by 150 basis points to address the microeconomic issues. According to SBP announcement, Policy rate decision taking into account the current considerations and the evolving macroeconomic situation, the Monetary Policy Committee noted that further policy measures are required to address…
SBP relaunches SMS service for issuance of fresh currency notes
Islamabad, State Bank of Pakistan, through its subsidiary SBP Banking Services Corporation (SBP BSC), has relaunched the SMS service for issuance of fresh currency notes to the general public. The fresh currency notes will be available from designated commercial bank branches called “e- branches” and the sixteen field offices of SBP BSC. The booking of…
Businessmen meet Advisor finance
Karachi, May 17, 2019: A delegation of leading Businessmen and Brokers comprising of Bashir Jan Mohammad, Arif Habib, Aqeel Karim Dhedhi, Ali Jamil and Chairman PSX Sulaiman Mehdi met the Finance Minister Dr. Abdul Hafeez Sheikh along with Chairman FBR Syed Shabbar Zaidi and Advisor to Ministry of Finance Dr. Khaqan Najeeb in Karachi to…
Rupee devaluation detrimental for value added Textile exports
Karachi, May 17, 2019: Chairmen, Value Added Textile Export Associations declared the current over 3.6 percent devaluation of rupees against dollar in 24 hours is extremely disastrous for the nation stating that such exorbitant devaluation will increase cost of doing business and also open floodgates of inflation for the masses. Pakistan rupee has been devalued…
Stocks closes lower on panic selling
Karachi, May 16, 2019: All the gains made yesterday got eroded in early trading at Pakistan Stock Exchange on Thursday. During the session, the index slid by 717 points. However, recovered by the end resulting in an unadjusted closing of -234 points. Panic selling ensued increase of dollar in inter-bank market. The spread widened in…