The State Bank of Pakistan (SBP) has announced a three-day holiday for Eid-ul-Fitr in 2025. The bank will remain closed from March 31 to April 2, 2025. The holidays will fall on Monday to Wednesday. This announcement was made on Friday by the central bank. The federal government has also declared a similar three-day holiday […]
SBP
ECC shifts SBP’s financing to Exim Bank and greenlights major financial moves
The Economic Coordination Committee (ECC) of the Cabinet decided to phase out the State Bank of Pakistan’s (SBP) long-term financing facility (LTFF) to Exim Bank. The decision was made during a meeting chaired by Finance Minister Muhammad Aurangzeb. The SBP’s LTFF portfolio of Rs330 billion will be gradually shifted to Exim Bank, with an allocation […]
Government delays key decisions on petrol levy and dual nationals
Prime Minister Shehbaz Sharif’s government has once again postponed important decisions on two major issues. These include whether to allow dual nationals to hold top positions in the State Bank of Pakistan (SBP) and whether to implement a carbon levy. On Tuesday, PM Shehbaz chaired another inconclusive cabinet meeting on these topics, following a prior […]
SBP lifts restrictions on exchange operators’ ability to import dollars
SBP allows import of US dollars against export consignments. Exchange companies must ensure compliance with all laws. ECAP General Secretary Zafar Paracha welcomes the move. KARACHI: The State Bank of Pakistan (SBP) has lifted import limits on US dollars, enabling exchange businesses to bring in more cash to cover the value of their export shipments […]
SBP directs banks to remain open on April 29, 30 to facilitate taxpayers
The State Bank of Pakistan (SBP), on the request of the Federal Board of Revenue (FBR), has directed banks to keep all authorised branches open on April 29 and 30 and extend working hours to facilitate tax collection. In a statement issued Wednesday, the SBP said that all those bank branches that regularly remain open […]
Punjab polls: Last date for SBP to release funds
Today is the last date for the State Bank (SBP) to release funds for Punjab elections directly to the Election Commission (ECP) as ordered by the Supreme Court. On April 14, a three-member bench the case of elections delay in Punjab and KP ordered the SBP to directly issue Rs21 billion for the election and submit […]
Pakistan expects dollar inflow from next week
Governor State Bank of Pakistan (SBP) Jameel Ahmad on Wednesday expressed optimism that Pakistan’s foreign exchange reserves position will improve as the country is expected to witness inflows of funds in the coming days. “We are expecting to witness inflows from next week onwards, which would reduce pressure on our foreign exchange reserves,” the SBP […]
SBP likely to maintain status quo in interest rate in new monetary policy
KARACHI: The State Bank of Pakistan (SBP) is scheduled to meet today (October 10) to assess developments on the economic front and announce its monetary policy for the next seven weeks. Conflicting movements in economic indicators tell the worst is not yet over, but the market has developed a consensus that the policy rate will […]
Rupee gains value in interbank ahead of Ishaq Dar’s return
Rupee gains value in interbank ahead of Ishaq Dar’s return As the local unit suffered consecutive losses during several previous sessions, the Pakistani rupee gained ground against the US dollar as trading for the week began on Monday. The rupee appreciated versus the dollar by 2.63 to reach 237.02 during intraday trade in the interbank […]
Jameel Ahmad appointed as SBP’s new governor
KARACHI: The federal government on Friday appointed Jameel Ahmad as the new governor of the State Bank of Pakistan (SBP). He was previously the central bank’s deputy governor. “In exercise of powers conferred under Section 11A(1) read with Section 14(1) of the State Bank of Pakistan (SBP) Act 1956 (Amended 2022), Jameel Ahmad is appointed […]