Tuesday , May 26 2020

Recent Posts

PIA records 43% increase in profit for the first time in 8 years

PIA profit

Pakistan International Airlines (PIA) revenue has increased by 43%. Led by PIA Chief Executive Officer (CEO) Air Marshal Arshad Malik, the Pakistan International Airlines (PIA) has announced its financial results for the year 2019 and recorded an increase of 43% in its annual revenue According to these results, PIA’s revenue …

Read More »

SBP cut interest rate further 1%

interest rate

KARACHI: The State Bank of Pakistan (SBP) has issued a monetary policy under which it has decided to reduce interest rates by another 100 basis points (one per cent). After a 1% cut, the interest rate has come down to 8%. Interest rates have been cut by 5.25% in the …

Read More »

Can Coronavirus also be Found in Currency Notes?

Currency notes

The deadly coronavirus has caused widespread fear around the world that before people touch anything, they fear that it may contain a virus that could be transmitted to the human body. In this situation, people are now hesitant as to whether the Coronavirus can be spread by money. This is …

Read More »

This year the Zakat deduction is fixed at Rs. 46,329

zakat

State Bank of Pakistan has fixed zakat deduction for this year at Rs 46,329. A notification was issued by the State Bank regarding the Zakat curriculum in which all banks were informed about Zakat deduction. As per the notification, Zakat will not be applicable for any amount less than Rs. …

Read More »

IMF executive board approves $1.386 bln funding for Pakistan

IMF

WASHINGTON (Web Desk) – The International Monetary Fund (IMF) approved a $1.386 billion funding for Pakistan to meet the urgent balance of payment needs stemming from the outbreak of the COVID-19 pandemic. The IMF approved the disbursement of $1.386 billion under the Rapid Financing Instrument in a meeting of its …

Read More »

State Bank of Pakistan reduced interest rates by 2%

state bank of pakistan

The State Bank of Pakistan reduced interest rates by 2% in view of the current economic situation. According to a notification issued by the State Bank, the interest rate in Pakistan has dropped to 9% after a 2% reduction. A 2% reduction in interest rates means a decrease of 200 …

Read More »

SBP introduces new refinance scheme to avoid layoff of workers

The State Bank of Pakistan has announced a temporary refinance scheme for businesses to support the employment of workers during the coronavirus outbreak. It gives businesses incentive to not layoff its workers. The scheme will be available to all businesses in Pakistan through banks and cover all types of employees, …

Read More »