ISLAMABAD: A progressive, business-friendly and people-friendly budget is essential for the socio-economic development of Pakistan, President Islamabad Chamber of Commerce & Industry (ICCI) Mahfooz Elahi made these remarks while meeting with member of business community. ICCI chief stressed that the upcoming budget should benefit the poor and ensure special concessions for the salaried person, senior […]
KARACHI: The State Bank of Pakistan (SBP) has decided to increase the Statutory Liquidity Requirement (SLR) for Islamic banks/Islamic banking branches by 5 percent with effect from June 03, 2011. At present, the SLR for Islamic banks/Islamic banking branches is 14 percent (excluding cash reserve requirement) of Total Demand Liabilities (including Time deposits with tenors […]
KARACHI: The State Bank of Pakistan (SBP) has also allowed the banks/Development Finance Institutions (DFIs) to extend loans for the cost of ancillary item(s) like CNG kits, vehicle tracking device i.e. Global Positioning System—commonly known as “Tracker” etc. while sanctioning auto loans for the ex-factory tax paid price fixed by the car manufacturers. However, the […]
Budget deficit will be contained at 4.5% of GDP in ’11-12 ISLAMABAD: The National Assembly (NA) Standing Committee on Finance, which met at the Ministry of Finance on Wednesday, was informed that the budget deficit will be contained at 4.5 percent of the gross domestic product (GDP) in 2011-12 and thereafter further reduced by 0.5 […]
KARACHI: The dollar remained unchanged against the rupee in the interbank market, dealers said on Tuesday. The greenback started the day’s trading at Rs 84.53 for buying, did not witness any change and closed at Rs 84.53 for buying and Rs 84.58 for selling. The euro gained strength against the rupee as it started the […]