Tag: banks
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SBP shortens car loan tenure to deflate import bill
The State Bank of Pakistan (SBP) decreased the consumer lending duration for vehicles on May 24, bringing it to a maximum of three years for cars with engine displacements greater than 1,000cc and five years for those with engine displacements less than 1,000cc. “The maximum tenure of auto finance facility is reduced from five (5) years…
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Federal Govt teachers demand pay raise, promotion
Federal government employees have warned to hold another sit-in in the federal capital if their demands for salary increments and promotions are not met by May 23. They voiced the statement during a rally in front of Parliament House organised by the All-Government Employees Grand Alliance (AGEGA), where a significant number of teachers showed up, responding…
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All banks to remain open this Saturday
State Bank of Pakistan has recently announced that all banks and their branches would be open on Saturday, April 30, 2022. In accordance with SBP’s orders incorporated in Banking Policy and Regulations Department (BPRD) Circular Letter No. 11 of 13 April 2022, all banks and their branches will remain open on Saturday, April 30, 2022.…
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Banks to remain closed for public dealing on 4 April
The State Bank of Pakistan (SBP) and all other banks will be closed for public business on Monday, 4 April, to observe a ‘Bank Holiday’ for Zakat deduction. Development Finance Institutions (DFIs), Microfinance banks (MFBs), and all other banks will be closed to the public on Monday. On the Bank Holiday, which will be observed as…
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Surprisingly high profitability in corporate sector despite pandemic
The results for corporate profitability are pleasantly surprising as the aggregate profitability shown by listed companies amounted to Rs 213.9 billion. The year-on-year growth rate for the recent quarter is 38 per cent. In sector-wise profitability: commercial banks have contributed to the highest sum of Rs48 billion earning in the quarter. The oil and gas…
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VIDEOS: Pakistanis, Indians start robbing banks of hand sanitisers
From wearing masks to cleaning hands with soap and water or sanitiser every hour, people are trying every possible way to protect themselves from falling sick amid the coronavirus outbreak. With this leading to a shortage of sanitisers not just in Pakistan but also across the globe, videos showing rather desperate attempts by people to…