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Pressure on external, fiscal accounts to persist: State Bank
SBP projects fiscal and current account deficits of 5-6pc and 4-5pc of GDP against the targets of 4.1pc and 2.6pc.
Shahid Iqbal
Dollar rising in open market
The higher open market rates encourage illegal transaction of remittances through the hundi and hawala system.
Remittances see small annual rise
Remittances from the Arab countries, which are the largest source of remittances, show no positive signs.
SMEs losing ground to imports from China
Influx of cheap imports from China leaves adverse impact on the local industry as small and medium-sized enterprises.
SBP maintains policy rate at 5.75pc yet again
Expects economic growth rate in 2017-18 to be 6pc.
Dollar buying gathers momentum
Bankers link growing demand for the greenback to fears of an approaching devaluation.
World Bank promises support to expand mortgage lending in Pakistan
Banks shy away from housing finance because of long-term engagement of funds.
Apex court’s ruling in favour of pensioners to cost NBP Rs48bn
CEO says the bank may file a review petition after getting detailed verdict.
Regional trade mostly in favour of Pakistan
Imports from India growing despite poor diplomatic relations.
Foreign debt servicing increases by 53pc
The country paid $6.54bn in principal and $1.62bn in interest during the last fiscal year: SBP.
Bank of China allowed to begin operations in Pakistan
The focus will be on providing financial services for CPEC-related projects
Rupee depreciation report submitted
The sudden drop in the rupee’s value on July 5 had taken the federal government by surprise.
Govt cuts borrowing from State Bank by 85pc
First two months see borrowing of Rs115b in 2018, which is only 15pc of the borrowing during the same period of 2016-17.
Remittances rise by13pc
Remittances from the United Kingdom increased 33.3pc.
Deposits of Islamic banks grow 10pc
Deposits of the Islamic banking industry increased by Rs156 billion or 10pc quarter-on-quarter to Rs1,720bn.
Small banks lend aggressively as big players shy away
Advances by the top five banks were low mainly because of their huge investment in government papers.
Banks’ profitability falls, asset base expands: SBP
Pre-tax earnings of Rs150.4 billion are 7.3pc less than the profits recorded during the same period a year ago.
Debt servicing stood at 65pc of FY17 deficit
Domestic debt servicing reached Rs1,220 billion in FY17, higher by Rs70bn compared to FY16.
Production of cigarettes plunged 35.8pc in 2016-17
Unchecked smuggling of cigarettes has affected local manufacturing.
Pakistan currency limit for travellers raised to Rs10,000
The revisions will “cater to genuine needs of international travellers”, the SBP says.