KARACHI, April 11: The State Bank of Pakistan has revised the fee on funds transfers and remittances under the Remittance Facility to banks, said a circular issued on Wednesday.

“It has been decided to charge a flat fee of Rs1000 per transaction for each fund transfer instruction with immediate effect,” said the circular issued to all banks and DFIs. According to earlier instructions, the SBP had levied a uniform rate of 0.07 per cent on all funds transfers and remittances under the Remittance Facility to banks.