Pakistan Returns $1 Billion In Commercial Loans: SBP

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

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

The SBP says its central bank reserves have fallen from 16 16.42 billion to $15.59 billion.

The SBP also said that the reserves of commercial banks have increased by $50 million while the reserves of commercial banks have increased to $7.14 billion.

The SBP further said that the country’s reserves have come down by $778 million to less than $23 billion while the country’s total foreign exchange reserves have reached $22.74 billion.

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

Total liquid foreign #reserves held by the country stood at US$ 22.74 billion as of April 30, 2021. For details: https://t.co/bK3saioRPn pic.twitter.com/93Igh8Mb18

— SBP (@StateBank_Pak) May 6, 2021

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

The FBR has achieved a net revenue of Rs 3780 billion from July to April, which is Rs 143 billion, more than the target of Rs 3637 billion sets for the period.

Net revenue for the same period last year has increased by 14% as compared to Rs. 3320 billion.

The FBR has also released April figures.

As per the details, the revenue net collection in April stood at Rs 384 billion while the required increase was Rs 242 billion.

This is an increase of 159 per cent over the target and a net increase of 57 per cent over the net revenue of Rs 240 billion achieved in April last year.

The 57% increase in April compared to the previous year is a historic one, which is more than the 46% increase, achieved in March.

In the first ten months of the current financial year, the gross revenue stood at Rs. 3976 billion as against Rs. 3438 billion in the previous year and increased by 16%.

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