KARACHI, July 30, 2020: The Pakistan’s Central Bank has said that successful stabilization measures that had fostered macroeconomic improvement in Jul-Feb FY20 provided a valuable cushion against the downturn faced from late March 2020 onward in the wake of the COVID-19 outbreak. The State Bank of Pakistan has released its Third Quarterly Report FY20 on…
KARACHI, July 27, 2020: Under the State Bank of Pakistan (SBP) Rozgar Refinance Scheme, financing of Rs125.9 billion has been approved by banks for 2068 businesses covering wages and salaries of over 1.2 million employees up till 10th July 2020. Soon after the introduction of the Scheme, a large number of applications to avail financing…
Karachi, July 22, 2020: State Bank of Pakistan (SBP) has enhanced the scope of its Refinance Scheme for Renewable Energy by allowing financing under category III of the scheme to solar and wind based energy sale companies. In light of the feedback received from stakeholders, the size of the project established by vendor/ supplier/ energy…
Karachi: July 17, 2020: The State Bank of Pakistan (SBP) has granted approval for pilot operation to APPS for ecommerce payment gateway “PayFast”. PayFast brings the ultimate and innovative solution to address the pain points of digital payments industry of Pakistan. Pakistan has over 80 million 3g / 4g subscribers, and a huge potential of…
KARACHI, July 13, 2020: Workers’ remittances rose by a significant 50.7 percent during June 2020 to reach record high USD 2.466 billion compared with USD 1.636 billion in June 2019. Similarly, on a cumulative basis, workers’ remittances increased to a historic high level of USD 23,120.7 million during FY20, witnessing a growth of 6.4% over…