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Pakistan’s liquid foreign reserves position

The total liquid foreign reserves held by the country stood at US$ 18,912.2 million on 24-July-2020.The break-up of the foreign reserves position is as under:-

  1. Foreign reserves held by the State Bank of Pakistan: US$ 11,975.6 million
  2. Net foreign reserves held by commercial banks : US$ 6,936.6 million
  3. Total liquid foreign reserves             : US$ 18,912.2 million

During the week ended 24-July-2020, SBP reserves decreased by US$146 million to US$ 11,975.6 million, due to government external debt repayments.

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Engro Fertilizer – a review of performance in 1H2020

The management of Engro Fertilizer Limited (EFERT) arranged an analyst briefing session today to discuss the 1HCY20 financial result and future outlook.

Highlights:

· To recall, the company posted consolidated earnings of PKR 4,456mn (EPS: PKR 3.34) in 1HCY20 against PKR 7,184mn (EPS: PKR 5.38) in 1HCY19, down by 38% YoY.

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Zong 4G launches exclusive prepaid international roaming bundle for Saudi Arabia

Continuing its streak of unbeatable international roaming (IR) offers for its valued customers in this time of Covid-19 crisis, Pakistan’s leading cellular and digital services provider, Zong 4G, has come up with yet another exciting international roaming bundle.

This time around, the IR offer covers Saudi Arabia offering multiple packages to fit most budgets and help Pakistanis stay connected with their loved ones back home while they make the unavoidable travel to the kingdom or stay there for a while during the pandemic.

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America provides an additional 100 Ventilators to Pakistan to support Covid-19 recovery

In partnership, Pakistan’s National Disaster Management Authority and the United States Government, through the U.S. Agency for International Development (USAID), are working together to fight COVID-19 by contributing a second shipment of 100 respiratory ventilators. 

The ventilators arrived in Islamabad on July 28 and will be deployed in hospitals across Pakistan. 

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Easypaisa re-defines the way customers pay bills

Easypaisa, the country’s leading branchless banking platform has revamped the utility bills payment section of its App.  New features have been introduced along with the addition of various billers such as government payments, educational institutes’ fee payments and credit card payments to make bill payments easier than ever.

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SBP renews the status of VIS and PACRA

State Bank of Pakistan has renewed the status of both credit rating agencies operating in Pakistan namely “VIS Credit Rating Company Limited (VIS)” and “The Pakistan Credit Rating Agency Limited (PACRA)” as eligible / recognized External Credit Assessment Institutions (ECAIs) for the calendar year 2020.

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Philip Morris supports NOWPDP to set-up recycling facility to reduce littering

Philip Morris Pakistan Today announced its support to establish a recycling facility as part of its anti-littering efforts. Under the project, the not for profit organization Network of Organizations Working with People with Disabilities, Pakistan (NOWPDP) will establish a plastic recycling facility while building the capacity of persons with disabilities, one of the most vulnerable minorities.

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