State Banks calls for Banks to accelerate adoption of PayPak Cards for providing low cost and efficient payment solutions to consumers

Deputy Governor, State Bank of Pakistan, Mr. Jameel Ahmad, has emphasized the need for the adoption of domestic payment scheme, PayPak card by banks in order to provide cost effective, ubiquitous and digital payment instrument to consumers. He was addressing senior banking and financial industry executives at the event “PayPak – The Way Forward” held at State Bank of Pakistan head office Karachi on 07th December, 2017.

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660 megawatt Thar coal-fired power plant to be operational in June 2019

At an estimated cost of $1.1 billion, the 660 megawatt indigenous coal-fired power plant at Tharparkar Block-II is likely to commence its commercial operations in June 2019, three months before the deadline. Also, the lignite coal excavation work on Sindh Engro Coal Mining Company’s (SECMC) Block-II Thar Coal Field at a cost of some $845 million continues at fast pace, as over 60 percent work of the project has so far been completed.

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Pakistan’s liquid foreign reserves position

According to SBP, the total liquid foreign reserves held by the country stood at US$18,744.9 million on 30November2017.The break-up of the foreign reserves position is as under:-

Foreign reserves held by the State Bank of Pakistan: US$ 12,660.5 million

Net foreign reserves held by commercial banks : US$ 6,084.4 million

Total liquid foreign reserves             : US$ 18,744.9 million

During the week ending 30November2017, SBP’s reserves decreased by US$887 million to US$12,660.5 million, due to external debt and other official payments.

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PDA recommendations for progress of the industry

The delegation of Pakistan Dairy Association that called on Prime Minister Shahid Khaqan Abbasi at Prime Minister’s Office Islamabad on December 5, 2017 were grateful to the prime minister for awarding them and audience and listening to their challenges. They urged the prime minister to bring about key changes to ensure the industry thrives and provides much needed nutrition to the citizens of the country.

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Jazz introduces hassle free insurance facility

Jazz Pakistan’s leading Telecom Operator, has introduced a hassle free accidental insurance facility for its prepaid subscribers in partnership with MILVIK Mobile Pakistan (Private) Ltd. – a leading emerging market insurance player. The service offers customers insurance coverage from PKR 200,000 up to PKR 2,000,000.

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DIG South shows strong resolve to curb street crime

Deputy Inspector General (DIG) of Police South Karachi Division Azad Khan has said that to curb street crime is top most priority of Police in Karachi. He was talking to a meeting held at Korangi Association of Trade &Industry (KATI). He told that to revamp force response 15 service has been uplifted on technologically and 100 mobile vans have been designated for rapid response with this signal task.

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