Game
Geopolitical crisis is getting worse
字号+ Author: Source:Sport 2025-01-16 00:27:47 I want to comment(0)
KARACHI: The State Bank of Pakistan (SBP) posted a record profit of Rs3.4 trillion in FY24, providin
KARACHI: The State Bank of Pakistan (SBP) posted a record profit of Rs3.4 trillion in FY24, providing significant support to the cash-starved government. “According to the FY24 audited annual account of SBP, a record Rs3.4tr was earned in 2023-24 compared to Rs1.1tr in the preceding year,” said Topline Securities CEO Mohammed Sohail. The central bank has been the government’s biggest profit-earner, surpassing any potential earnings from trade or industry. Mr Sohail said the unprecedented 22pc interest rate was not good for the economy, but the SBP’s profits would support the government. The government will have to spend Rs9tr on debt servicing in FY25. The State Bank will transfer 80pc or Rs2.72tr of profit to the federal government. “Higher interest rates and stable rupee helped SBP earn this huge profit,” said Mr Sohail, adding that the overall government’s liquidity has improved. It was due to the improved liquidity the government rejected all the bids for the treasury bills this week while it raised less than half of the target through the auction of Pakistan Investment Bonds.
1.This site adheres to industry standards, and any reposted articles will clearly indicate the author and source;
Related Articles
-
Woman dies after wall falls on her
2025-01-15 23:54
-
Tax filers doubled during current fiscal year: finance minister
2025-01-15 23:11
-
Early diagnosis, management of pubertal disorders stressed
2025-01-15 22:39
-
Rising seas
2025-01-15 22:05
User Reviews
Recommended Reads
Hot Information
- Fighting a phantom recession
- As cities heat up
- Bangladesh struggling to muster dollars to pay Indian power debts, sources say
- EXHIBITION: FROM ROME WITH LOVE
- JI workers stage rallies in Peshawar against heavy electricity tariffs, taxes
- A shared truth, a sacred bond
- Landi Kotal elders say official jirga useless in resolving their issues
- Power minister irked by poor performance of Discos
- Peshawar court seeks governor’s response to Rs500m damages suit
Abont US
Follow our WhatasApp account to stay updated with the latest exciting content