Thursday, September 9, 2021

Pakistan Returns $1 Billion In Commercial Loans: SBP

The State Bank of Pakistan (SBP) said the Pakistani government had returned $ 1 billion in commercial loans.

According to the details, the SBP said central bank reserves have been significantly reduced by $ 830 million.

The SBP says its central bank reserves have fallen from $ 16.42 billion to $ 15.59 billion.

The SBP also said that commercial bank reserves increased by $ 50 million while commercial bank reserves increased to $ 7.14 billion.

The SBP further said the country’s reserves declined from $ 778 million to less than $ 23 billion, while the country’s total foreign exchange reserves reached $ 22.74 billion.

SBP further stated that the total liquid foreign exchange reserves held by the country stood at $ 22.74 billion as of April 30, 2021.

Previously, the Federal Board of Revenue (FBR) released preliminary details of revenue collected in the first ten months of the current fiscal year.

The FBR achieved a net turnover of Rs 3780 billion from July to April, or Rs 143 billion, more than the target of Rs 3637 billion set for the period.

Net income for the same period last year increased 14% from Rs. 3.320 billion.

The RBF also released figures for April.

According to the details, the net revenue collection in April was 384 billion rupees while the required increase was 242 billion rupees.

This is a 159% increase from target and a net increase of 57% from the net income of Rs 240 billion achieved in April of last year.

The 57% increase in April from the previous year is historic, more than the 46% increase achieved in March.

In the first ten months of the current fiscal year, gross revenue stood at Rs. 3,976 billion against Rs. 3,438 billion the previous year and increased by 16%.

Avital Andrews
Avital Andrews from Miami, FL is a technical, business writer as well as a journalist who writes for different authority websites online to provide researched and stats based content to provide authentic information to the users around the world. 😐

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