Foreign exchange reserves of the State Bank of Pakistan (SBP) remained unchanged during the week ended on Oct 14, the central bank announced on Thursday. The SBP reserves were $7.597 billion while the holdings of the commercial banks were $5.653bn during the week. The total reserves of the country were almost unchanged at $13.251bn. The interbank market witnessed a slight appreciation of 8 p
Pakistan’s exports of non-textile products posted a paltry growth of 0.77 per cent year-on-year to $2.59 billion in the first quarter of the current fiscal year, data compiled by the Pakistan Bureau of Statistics (PBS) showed on Thursday. The stagnation in export proceeds of the non-textile sector was noted since the start of the current fiscal year as demand slowed down in the buyers’ market.
The Securities and Exchange Commission of Pakistan (SECP) stressed the need to cultivate a sustainable and resilient culture of compliance with anti-money laundering and combating the financing of terrorism (AML/CFT) regulations within the non-bank financial sector. Speaking at a training programme arranged by the Mutual Funds Association of Pakistan (Mufap), a trade body of asset management co
In an opaquely worded notification issued on the Pakistan Stock Exchange, K-Electric Ltd said on Thursday “changes have been consummated” involving IGCF General Partner Ltd (IGCF GP), a fund manager, and the Infrastructure and Growth Capital Fund L.P. (Fund), which owns the fund’s assets. Analysts interpreted the dense text of the regulatory filing as an acknowledgement of the transfer of K-Ele
The Asian Development Bank (ADB) on Friday approved $1.5 billion in financing to help the government provide “social protection, promote food security and support employment” amid catastrophic flooding and global supply chain disruptions. According to the statement issued by the ADB, the loan has been provided under the bank’s Building Resilience with Active Countercyclical Expenditures (BRACE)