Karachi, April 30, 2024 : Pakistan’s foreign exchange reserves experienced a decline of $9.32 million for the week ending April 19. The State Bank of Pakistan (SBP) reported that as of April 19, the country’s domestic foreign exchange reserves stood at $13.28 billion. SBP’s own foreign exchange reserves experienced a significant decrease, falling by $7.35…
Islamabad, January 29, 2024 : Governor State Bank of Pakistan (SBP) Jameel Ahmed said on Monday that SBP has in principle decided to launch a new series of bank notes in line with global trends. He said that the new bank notes will be enhanced with new security features and new designs. The process will…
Islamabad, October 23, 2023: The State Bank of Pakistan (SBP) released today its Annual Report on the State of Pakistan’s Economy for the fiscal year 2022-23. According to the report, Pakistan’s economy faced multiple challenges during FY23, as longstanding structural weaknesses exacerbated the impact of successive domestic and global supply shocks of unprecedented nature. The…
Islamabad, October 23, 2023 :In order to facilitate the IT exporters to boost the exports of IT and IT enabled services, SBP has increased the permissible retention limit of IT exporters from 35% to 50% of their export proceeds in the Exporters’ Specialized Foreign Currency Accounts (ESFCAs). Further, the usage of the balances available in…
Karachi, December 18, 2020: Mian Anjum Nisar President “The Federation of Pakistan Chambers of Commerce and Industry” (FPCCI) and Shaikh Sultan Rehman Vice President applaud The State Bank of Pakistan for the waiver of the E-form requirement for up to the US $5000 per consignment for small industries. He said that this move will facilitate…