Central Bank cuts policy rate by 75 bps Karachi, March 18, 2020: The State Bank of Pakistan (SBP) has announced three measures to address the economic and health challenges posed by the spread of COVID-19. First, the Monetary Policy Committee (MPC) of the SBP cut its policy rate by 75 basis points. As noted in the…
Karachi, March 10, 2020: Dr Reza Baqir, Governor State Bank of Pakistan (SBP), emphasized that real economic activity is expected to revive soon on the back of recent economic reforms initiated by SBP and the Government. These comments were made at a session hosted in the UAE by Bank Alfalah, with attendees representing leading financial…
Karachi, January 07, 2020: The State Bank of Pakistan today released its First Quarterly Report on the State of Pakistan’s Economy for FY20. According to the report, Pakistan’s economy moved progressively along the adjustment path during the first quarter of FY20. The macroeconomic stabilization process picked up momentum with the initiation of the IMF’s Extended…
Karachi, December 27, 2019: In order to facilitate the collection of Government receipts/duties/taxes, it has been decided that authorized branches of National Bank of Pakistan (NBP), as well as field offices of SBP Banking Services Corporation (SBP-BSC), will observe extended banking hours up to 9:00 P.M on December 31, 2019 (Tuesday). Read More: Poultry sector…
Karachi, December 24, 2019: Dr. Reza Baqir, Governor, State Bank of Pakistan during his inaugural address in a seminar on “Emerging Trends in Good Governance of Banking Sector” in SAARC countries highlighted the importance of efficient and robust governance structure in the banking industry for the sustainable economic growth of a country. Besides Pakistan, the…