In the past, the central bank would release new currency notes worth millions of rupees before Eid-ul-Fitr. However, since the COVID-19 pandemic, this practice has been discontinued. As a result, Pakistanis have had to make do with worn-out notes for Eid celebrations. Will New Notes be Available this Year? Sources claim that the chances of […]
The Monetary Policy Committee (MPC) of the SBP will meet today to decide about the Monetary Policy, as analysts expect 50 to 100 basis points cut in the interest rate. The bank’s current interest rate has been 12 percent while the inflation was dropped in February to minimum level of 1.52%. The MPC will review […]
This year Administrator General Zakat has notified the “Nisab of Zakat” for the Zakat Year 1445-46 A.H at Rs. 179,689 (Rupees One Hundred Seventy-Nine Thousand Six Hundred Eighty-Nine only). The central bank, while referring to the instructions of the Ministry of Poverty Alleviation and Social Safety, on Friday circulated that all banks, Development finance Institutes […]
It will be the minimum amount in bank accounts on which zakat will be deducted on the eve of the first Ramazan. This year’s Zakat Nisab is Rs. 44,519 higher than the previous year’s threshold of Rs. 135,179 for Zakat deductions on savings and other accounts. However, no deduction of Zakat at source shall be […]
In a statement, Senator Rubina Khalid stated that the year 2025 is designated for the ‘Benazir Hunarmand Programme’, which aims to assist deserving persons in securing employment after training from various opportunities. BISP stands as one of the most significant social safety net initiatives in Pakistan, initiated in July 2008 with the objective of alleviating […]
He acknowledged the Bank’s role as a reliable partner in Pakistan’s progress and appreciated its financing in various sectors including energy, transportation, education, and health. Muhammad Aurangzeb lauded the Bank’s investment in the Mohmand Dam, along with other members of the Arab Coordination Group, as a model for co-financing similar or larger projects in the […]
The highly anticipated stimulus came on top of a series of measures announced over the last weeks that have included interest rate cuts and liquidity for banks. Despite the scale of the package, Finance Minister Lan Fo’an said China could dig deeper. “At present, we are accelerating the use of additional treasury bonds, and ultra-long-term […]
The central bank slashed the interest rate by two percent to 17.5% in the monetary policy announced today. The Monetary Policy Committee (MPC) of the central bank met today to fix the policy rate for the next one and a half months. Analysts were expecting that the committee will continue monetary easing between 150-200bps on […]
In the previous policy announcement, the central bank had fixed the policy rate at 19.5 percent. The Monetary Policy Committee (MPC) of the central bank meets today to fix the policy rate for the next one and a half months. Experts expect the committee to continue monetary easing between 150-200bps, on a lower inflation outlook […]
The decision was taken on Saturday and announced by NDB chief Dilma Rousseff at a Cape Town, South Africa meeting. By joining “this important development institution, the financial arm of the BRICS group, Algeria is taking a major step in its process of integration into the global financial system,” the Algerian finance ministry said in […]
