Tag: Credit

Indian Prime Minister Manmohan Singh told African leaders on Tuesday that India will make loans to nurture economic growth on the continent where China...

With mounting inflation pressures likely to remain a persistent threat in the foreseeable future, the government’s continued dependence on commercial banks for budgetary support...

LAHORE - Pakistan's banned pace bowler Mohammad Amir feels the national cricket team deserves credit for reaching the last four stage of the ICC World Cup 2011.
"The boys did well. They deserve credit for their performance. Reaching the semi-finals is no joke and their efforts are commendable," PakPassion quoted Amir as saying.
Pakistan's World Cup campaign had ended in a 29-run defeat at the hands of India in the semi final clash at Mohali on March 30. "Mistakes were made

KARACHI - The State Bank of Pakistan (SBP) has allowed the banks to send electronically the statement of account to their credit card holders. It has also asked the banks to send SMS Alert on credit card holders' mobile numbers informing them that the e-statement has been sent via email. An SBP circular on Thursday stated the central bank revised its existing Regulation (PR-O-2) of Prudential Regulation for Consumer Financing to further facilitate the banks and customers.
The

ISLAMABAD - The government has decided to extend a guarantee of Rs 165 billion credit needed for this year's wheat procurement target of 6.57 million tonnes, but the guarantee is subject to the availability of credit to be provided by commercial banks, an official source said.
The decision was made at that the meeting of the Economic Coordination Committee of the cabinet (ECC) which met under the chairmanship of Finance Minister Abdul Hafeez Shaikh on Wednesday. The source said

ISLAMABAD - The Senate Standing Committee on Finance on Thursday called the monetary and credit policies announced by the State Bank of Pakistan during the last four years against rules for being in violation of the State Bank of Pakistan Act, as no meeting of Fiscal and Monetary Policies Coordination Board was held since 2007.
The committee, which met with Senator Ahmad Ali in the chair, criticised the SBP's announcement of monetary and credit policies without approval of the

KARACHI - The State Bank has revised the Credit Guarantee Scheme (CGS) for Small and Rural Enterprises (SREs). According to SBP's SMEFD Circular No 02, the scheme had been revised and improved in the light of the recommendations of the Technical Committee on Credit Guarantee represented by the central bank, UK's Department for International Development and the Pakistan Banks Association (PBA).
The improvements in the scheme are expected to generate desired momentum, thereby

KARACHI - The Pakistan Credit Rating Agency (PACRA) has maintained the long-term entity rating of ORIX Leasing Pakistan Limited (OLP) at 'AA' (Double A) and the short-term rating at 'A1+' (A one plus).
Ratings for the term Finance Certificates (TFCs) of Rs 2,500 million and Rs 5,000 million have also been maintained at 'AA+' (Double A plus). These ratings denote a very low expectation of credit risk, emanating from a strong capacity for timely payments of financial commitments.

WASHINGTON - US voters are seeing signs of a brighter economy and are crediting President Barack Obama for the upturn, but by a narrow margin want Congress to repeal his health care overhaul, a poll showed on Tuesday.
The Quinnipiac University poll showed that 54 percent of respondents said they believed the US economy is beginning to recover, with 43 percent disagreeing. Nonetheless, the survey showed a 53 to 40 percent majority disapproved of Obama's economic management.