State Bank of Pakistan

Central bank cites no reason for increase in reserves

Finance ministry says Pakistan’s capacity to repay ‘adequate’

Says meetings between bankers, borrowers will be held for reopening closed units

SBP reports addition of $17.6b in past two years to nearly $113b by end of June 2020

Aims to build cash reserves, ensure autonomy as it records profit of over Rs900b in FY20

SBP has also allowed the bank to extend the maturity of FE-25 import loans by 180 days

Move aimed at further facilitating exporters

Move comes after receipt of feedback from various stakeholders

It took loans of only Rs205b in July due to surge in foreign financing

Allows central bank to endorse overseas investment of up to $10 million

Aims to enhance outreach of companies to wider customer base

Earlier, the SBP let rupee depreciate massively in the inter-bank market

Central bank attributes increase to inflows from multilateral, bilateral agencies

PM aide informs cabinet about restructuring of institutions to improve governance

Leads to low industrial, agricultural output, which hinders growth of businesses

Central bank attributes decrease to external debt repayments

Foreigners investing in transport, chemical and tourism sectors manage to send back higher profits

Over 1.2 million employees covered under State Bank of Pakistan’s Refinance Scheme

Move will help gain insights into effectiveness of complaint management

SBP data for 11-month period of FY20 shows CDNS raised Rs306.3b

Platform aims to capitalise on more than 80 million 3G/4G subscribers in Pakistan

The foreign exchange reserves held by the central bank increased 0.11%

State Bank of Pakistan tells banks to raise housing loan portfolio to 5% of private sector credit

Central govt’s debt excludes liabilities indirectly owed to creditors

Easing of rules will help enhance bank financing for youth, consumers

Increase attributed to receipt of $1b in loan from China

Move to cut rates aimed at promoting investment in country

Businesses and households could request for the deferment of their loans and advances for a period of one year

Manufacturers of protective gears and equipment allowed to avail financing under RFCC

Ambiguity about extension in period for receipts leads to suspension of shipments

Will expedite processing of applications under refinance scheme

SBP governor says concerns over relief measures dispelled through necessary amendments

Newly introduced automated system aims to ensure transparency

After two successive years in red, benchmark index finishes FY20 up by 1%

Also increases risk coverage for SMEs in collaboration with govt

SBP had directed all commercial banks to stop selling Rs40,000 prize bonds from June 24 onwards.

Pakistan is likely to pay Rs900b in capacity charges to power producers in FY20

Decline attributed to govt’s external debt payment of $244.5m

Poultry sector says loan applications being rejected on grounds of weak audited accounts

REIT member for extending special lending rate to low-cost housing

SBP governor says reforms initiated earlier help country fight pandemic

Drop comes on account of external debt repayments

Emphasise on keeping economic activity alive to avert crisis

Will deliver lessons through story-based game format

Minister, SBP governor review country’s financial health

In this age of economic downturn, such banks are taking full advantage of the vulnerability of its staffers

Federal government would bear 40% of the first loss on the principal portion of the disbursed loan portfolio of banks

It is almost certain exports, remittances will not grow in final quarter of FY20

Experts predict SBP may slash interest rate by another 100-300bps

State Bank of Pakistan believes it will strengthen financial institutions’ capacity to absorb losses