Pakistan’s exports to Italy increase 35% to $758 million in 3 quarters
Pakistan’s exports of goods and services to Italy witnessed an increase of 35.58 percent during the first three quarters of fiscal year (2021-22) as compared to the exports of corresponding period of last year. The overall exports to Italy were recorded at $758.795 million during July-March (2021-22) against exports of $559.664 million during July- March…
Adil Aziz
Dr. Murtaza Syed assumes position of Acting Governor
In light of Section 10(2) of the State Bank of Pakistan (SBP) Act 1956 (amended), Dr. Murtaza Syed, being the senior most Deputy Governor, has assumed the position of Acting Governor SBP, with effect from May 5, 2022. It may be mentioned here that the term of Dr. Reza Baqir (former Governor SBP) ended on…
International developments, inflation impacting economic activities: Outlook
Among the determining factors of current trends in both international and domestic inflation are supply chain issues and surging international commodity prices Although the economic recovery is underway, the international developments and persistent high domestic inflation might impact domestic economic activities, says Monthly Economic Update and Outlook, April 2022 released here on Friday. “The domestic…
No fresh borrowings from SBP, clarifies finance ministry
The Ministry of Finance here on Thursday clarified that there had been no fresh borrowings by the government from the State Bank of Pakistan (SBP). “In fact the government has been retiring its previous stock of debt with the SBP on its maturity,” the ministry said in a statement while responding to news circulating on…
State Bank of Pakistan Receives Overwhelming Response for Digital Bank Licenses
State Bank of Pakistan (SBP) has concluded the process of receiving applications for digital banks licenses as per its announced deadline of March 31, 2022. The application process registered an overwhelming response whereby SBP received twenty (20) applications from a diverse range of applicants, including domestic commercial banks, microfinance banks, electronic money institutions and FinTech…
USA, China, UK remain top 3 destinations of Pakistani exports during 8 months
Pakistan exported product worth $7.724 billion to these countries during the first eight months of the current fiscal year, State Bank of Pakistan (SBP) reported The United States remained the top export destinations of Pakistani products during the first eight months of financial year (2021-22), followed by China and United Kingdom (UK). Total exports to…
CDNS to provide Islamic investment opportunities, through Islamic finance
The Central Directorate of National Savings (CDNS) has decided to start Islamic finance and will start implementing its procedural work from next month to provide the facility of Islamic finance in the institution. In this regard, under Islamic Sharia Compliance, Prize Bonds and Savings Certificates will be issued for investment in accordance with Sharia Principles,…
NeCC is to develop effective collaboration with all relevant sectors for practical implementation of the e-Commerce Policy
Islamabad – The eight meeting of the National e-Commerce Council (NeCC) was held on 31st March 2022 in Islamabad under the chairmanship of the Advisor to the Prime Minister on Commerce Mr. Abdul Razak Dawood. Participants attended the meeting in person and via online video link. The NeCC is a body of representatives from public…
Governor SBP unveils a special report about progress on SDGs from banking perspective
Governor State Bank of Pakistan, Dr. Reza Baqir unveiled a report titled ‘SDGs and sustainability report– Pakistan Banking Sector Perspective’ in Dubai on March 23, 2022. The report was launched in an event on the theme ‘The Future of Green and Sustainable Finance – The Role of the SDGs’ organized by the Global Ethical Finance…