Tag: Reserves
Forex reserves sustainability remains cause for concern
KARACHI - Pakistan's foreign exchange reserves are at a record high yet the sustainability of those reserves are a cause for concern in the medium term, analysts said on Friday. Foreign exchange reserves rose to an all-time high of $17.95 billion for the week ended March 26, but eased to $17.31 billion in the week ended on April 9.
"When you say record-high forex reserves, you have to be realistic as well, as out of the reserves nearly $8.0 billion is the amount we have borrowed
"When you say record-high forex reserves, you have to be realistic as well, as out of the reserves nearly $8.0 billion is the amount we have borrowed
Pakistan’s forex reserves ease to $17.31 bln
KARACHI - Pakistan's foreign exchange reserves eased to $17.31 billion in the week ending on April 9, from $17.64 billion the previous week, a senior central bank official said on Thursday.
Reserves held by the State Bank of Pakistan (SBP) fell to $13.93 billion from $14.26 billion a week ago, while those held by commercial banks were flat at $3.38 billion, unchanged from the previous week, said SBP chief spokesman Syed Wasimuddin.
"The decline in reserves during the week is
Reserves held by the State Bank of Pakistan (SBP) fell to $13.93 billion from $14.26 billion a week ago, while those held by commercial banks were flat at $3.38 billion, unchanged from the previous week, said SBP chief spokesman Syed Wasimuddin.
"The decline in reserves during the week is
Dollar reserves dip to $17.637 billion
KARACHI - The country's foreign exchange reserves slid down by 1.7 percent or $319 million to $17.637 billion after hitting a historic high a week earlier, State Bank of Pakistan (SBP) data indicated.
On the week that ended on March 26, the central bank had declared that the country's foreign exchange reserves had amassed to a record $17.956 billion owing primarily to a healthy inflow of the greenback on account of exports and worker remittances.
However, during the
On the week that ended on March 26, the central bank had declared that the country's foreign exchange reserves had amassed to a record $17.956 billion owing primarily to a healthy inflow of the greenback on account of exports and worker remittances.
However, during the
Forex reserves rise to record $17.95 billion
KARACHI - Pakistan's foreign exchange reserves rose to a record $17.95 billion in the week ending on March 26, from $17.50 billion the previous week, a senior central bank official said on Thursday.
Reserves held by the State Bank of Pakistan (SBP) rose to $14.54 billion from $14.09 billion a week ago, while those held by commercial banks were flat at $3.41 billion, said SBP chief spokesman Syed Wasimuddin.
"The jump in reserves is largely due to higher export proceeds as
Reserves held by the State Bank of Pakistan (SBP) rose to $14.54 billion from $14.09 billion a week ago, while those held by commercial banks were flat at $3.41 billion, said SBP chief spokesman Syed Wasimuddin.
"The jump in reserves is largely due to higher export proceeds as
Forex reserves dip to $17.49b
KARACHI - Pakistan's foreign exchange reserves have slightly eased, down by 0.63 percent, during the week ending on March 19 following a record Rs 17.608 billion. Figures from the State Bank of Pakistan (SBP) reveal that, during the week under review, total liquid foreign reserves stood at $17.496 billion, down by $ 112 million against $17.608 billion last week that ended on March 12.
According to SBP, during the week in review, the central bank held $14.092 billion against a
According to SBP, during the week in review, the central bank held $14.092 billion against a
SC reserves verdict on plea in Railways land scam
ISLAMABAD - The Supreme Court on Friday reserved its verdict on a joint petition against irregularities of over Rs 25 billion in the leasing of 1,128 kanals of Railways' land in Lahore to a Malaysian consortium associated with two Lahore-based companies - Husnain Construction Company (Pvt) Ltd and Unicon Consulting Service (Pvt) Ltd, which constructed Royal Palm Golf and Country Club Lahore on the land.
A two-member bench comprising Chief Justice Iftikhar Muhammad Chaudhry and
A two-member bench comprising Chief Justice Iftikhar Muhammad Chaudhry and
Middle East crisis propels a jump in forex reserves
KARACHI - Following a waning trend in the past two weeks, the country's foreign exchange reserves have hit a record high of $17.608 billion in the week ending on March 12. Figures from the State Bank of Pakistan (SBP) reveal that, during the week under review, the country's total liquid foreign reserves increased by $238 million or 1.37 percent compared to $17.370 billion in the previous week. Current reserves of over $17.608 billion raised 0.1 percent or $19 million compared to the
Waziristan copper reserves larger than Reko Diq’s
ISLAMABAD - The National Assembly Standing Committee on States and Frontier Regions (SAFRON) Wednesday called for concrete measures to tap the minerals reserves and establish industries in the tribal areas to provide jobs to the local people.
Earlier, the officials of the FATA Development Authority (FDA) told the committee that the copper reserves larger than that of Reko Diq were available in North Waziristan, but exploration was not possible owing to the security reasons.
Earlier, the officials of the FATA Development Authority (FDA) told the committee that the copper reserves larger than that of Reko Diq were available in North Waziristan, but exploration was not possible owing to the security reasons.
LHC reserves judgement against Zardari
LAHORE - A four-member full bench of the Lahore High Court on Thursday reserved judgment in petitions challenging President Asif Ali Zardari's dual office.
The petitions were filed by Advocate AK Dogar from the Pakistan Lawyers Forum (PLF), Engineer Ghulam Jillani and Advocate Asif Mehmood Khan. The petitioners sought Zardari's disqualification on the grounds that he, being state president, could not hold office as co-Pakistan People's Party's co-chairman. The court conducted
The petitions were filed by Advocate AK Dogar from the Pakistan Lawyers Forum (PLF), Engineer Ghulam Jillani and Advocate Asif Mehmood Khan. The petitioners sought Zardari's disqualification on the grounds that he, being state president, could not hold office as co-Pakistan People's Party's co-chairman. The court conducted
Forex reserves continue to fall
KARACHI - This week again the country's foreign exchange reserves sustained a declining trajectory and shrank by $135 million to $17.370 billion during the week ending on March 5. The previous week that ended on February 19 also saw the country's dollar reserves decreasing by 0.48 percent to $17.505 billion after hitting the historic high of $17.589 billion in the preceding week.
According to State Bank of Pakistan, during the week under review, total liquid foreign reserves of
According to State Bank of Pakistan, during the week under review, total liquid foreign reserves of
Court reserves verdict on DeHaven release plea
LAHORE - A local court in Peshawar has reserved its order until March 7 over the release of US citizen Aaron Mark DeHaven on bail, Geo News reported on Friday. Additional Sessions Judge Altafur Rehman was hearing a plea seeking the release of DeHaven on bail.
The US citizen's lawyer Ali Raza informed the court that DeHaven migrated to Pakistan on a working visa and his client's had applied for visa extension, as the same had expired in October 2010, adding that he could not be
The US citizen's lawyer Ali Raza informed the court that DeHaven migrated to Pakistan on a working visa and his client's had applied for visa extension, as the same had expired in October 2010, adding that he could not be
Forex reserves fall to $17.505 billion
KARACHI - The country's foreign exchange reserves underwent a slender decline of $84.5 million and reached $17.505 billion during the week ending on February 26. The 0.48 percent slump was seen after the country's most-needed dollar reserves hit a historic high of $17.589 billion on the back of, what the central bank said, soaring inflow of the greenback under worker remittances and exports.
Pakistan's dollar reserves had also climbed to a record $17.447 billion in the week
Pakistan's dollar reserves had also climbed to a record $17.447 billion in the week
Surging exports take forex reserves to $17.589b
KARACHI - Pakistan's foreign exchange reserves sustained its' record break record-breaking spree and stayed at a high of $17.589 billion during the week, ending on February 19. Heavy dollars inflow, primarily due to mounting worker remittances and exports, has triggered the rise, the State Bank claimed.
Foreign currency reserves had also earlier hit a historic high of $17.447 billion in the last week, ending on February 15.
While, in the preceding week ending on February 5,
Foreign currency reserves had also earlier hit a historic high of $17.447 billion in the last week, ending on February 15.
While, in the preceding week ending on February 5,
LHC reserves verdict on order banning journalists from courts
Lahore - The Lahore High Court on Wednesday reserved verdict on a writ petition challenging ban on journalists' entry into anti-terrorism courts, National Accountability Bureau courts, special courts and tribunals. Earlier, the court had formed a committee to resolve the issue. Representatives of Federal Union of Journalists, Punjab Union of Journalists, Court Reporter Association and federal and Punjab governments were included in the committee which had submitted its
Forex reserves again hit record $17.447 billion
KARACHI - The country's liquid foreign exchange reserves have once again hit the highest level of over $17.447 billion during the week that ended on February 15. It was the last week on February 5, when the foreign exchange reserves slid to $17.314 billion after touching a record high of $17.386 billion a week earlier.
According to the State Bank of Pakistan (SBP), during the week under review the country held a foreign exchange of $17.447 billion against $17.314 billion of
According to the State Bank of Pakistan (SBP), during the week under review the country held a foreign exchange of $17.447 billion against $17.314 billion of
Country has 1,339 tonnes of gold reserves, Senate told
ISLAMABAD - Petroleum Minister Naveed Qamar on Tuesday in informed the Senate that Pakistan had 1,339.25 tonnes of gold reserves. During the question answer session in the Senate, Qamar said in a written reply that the country had 1,339.25 tonnes of gold reserves of which only 7.891 tonnes had been produced in the last five years.
He Pakistan had 1,275.75 tonnes of gold in the Reko Diq area, while the Saindak area had 63.50 tonnes of gold. The minister told the House that
He Pakistan had 1,275.75 tonnes of gold in the Reko Diq area, while the Saindak area had 63.50 tonnes of gold. The minister told the House that
Forex reserves continue to amass, at $17.3 billion
KARACHI - The country's liquid foreign exchange reserves continue to witness an upward trend and hit the historic mark of $17.3 billion in the week that ended on January 22, the State Bank of Pakistan (SBP) has revealed.
The central bank figures show that the country's foreign reserves sustained the upturn and swelled by $18.5 million or 0.1 percent to the historic $17.300 billion against $17.281 billion of the previous week that ended on January 15. In the case of this week as
The central bank figures show that the country's foreign reserves sustained the upturn and swelled by $18.5 million or 0.1 percent to the historic $17.300 billion against $17.281 billion of the previous week that ended on January 15. In the case of this week as
