• About
  • Advertise
  • Contact
Friday, August 12, 2022
  • Login
WRITE FOR US
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
No Result
View All Result
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
Economy.pk
Home Business

Four banks submit bids for Kamyab Pakistan

byNews Desk
October 28, 2021
in Business, Finance, Main
Reading Time: 1 min read
0
Kamyab Pakistan
365
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

Four commercial banks – two of them owned by the government – have submitted bids to give a maximum of Rs30 billion in loans under the Kamyab Pakistan Programme over the next three months. Till the expiry of deadline for the submission of bids, National Bank of Pakistan, the Bank of Punjab, Askari Bank and Habib Bank Limited submitted their quotations to the Ministry of Finance. The participation of these banks had been anticipated due to the involvement of their management in designing the programme.

The bids will be opened today (Thursday). The Ministry of Finance had sought bids from commercial banks, Pakistan Mortgage Refinance Company (PMRC) and development finance institutions (DFIs) regulated by the State Bank of Pakistan (SBP) to act as wholesale lenders. However, no Islamic bank or DFI submitted bids for extending loans for a threemonth period. The banks offering the lowest interest rate above or below three-month Karachi Interbank Offered Rate (Kibor) will be declared as successful bidders. The government has also set the maximum cap on interest rate to be paid to these banks at three-month Kibor plus 9% per annum.

RelatedPosts

Textile exports to dip by $3bn due to govt policies

Pakistan receives letter of intent from IMF, inches closer to sealing bailout deal

The Govt gives guarantees for over Rs80 billion financial liabilities of PIA and PSO 

The financial sector faces an uncertain situation after the central bank increased the interest rate to 7.25% last month and also hinted at a further increase in November 2021. The Ministry of Finance on Wednesday wanted to borrow Rs100 billion through the fixed-rate Pakistan Investment Bonds (PIBs), however, the banks offered quite high rates, resulting in rejection of all bids for three, five and 10-year papers. Under the Kamyab Pakistan Programme, the Ministry of Finance arranged the first bidding for only a threemonth period.

Tags: Askari BankBanksHabib Bank LimitedKamyab PakistanPM Imran Khan
News Desk

News Desk

A source of economic, political, business, finance, health and sports updates.

Related Posts

Textile exports to dip by $3bn due to govt policies

Textile exports to dip by $3bn due to govt policies

The All Pakistan Textile Mills Association (Aptma) believes export proceeds of the textile sector will go down by up to...

Pakistan receives letter of intent from IMF, inches closer to sealing bailout deal

Pakistan receives letter of intent from IMF, inches closer to sealing bailout deal

Islamabad received the letter of intent (LOI) from the international lender a few days after Pakistan and the IMF established...

Next Post
COAS

Pakistan Army Is Well-Trained, Battle-Hardened Cohesive Force: COAS Bajwa

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

1 million Kashmir University Students & Teachers’ Data ‘hacked, put on sale’ on Dark Web

1 million Kashmir University Students & Teachers’ Data ‘hacked, put on sale’ on Dark Web

Sarfaraz Ahmed's bio added to class 4's Urdu syllabus book

Sarfaraz Ahmed’s bio added to class 4’s Urdu syllabus book

Khyber Pakhtunkhwa to Install Solar-Powered Transportation System

Khyber Pakhtunkhwa to Install Solar-Powered Transportation System

COAS Bajwa hails deep-rooted ties between Pakistan, UK

COAS Bajwa hails deep-rooted ties between Pakistan, UK

Article 370-A Revoked: 1100+ Days of Forced Captivity of Innocent Kashmir’s

Article 370-A Revoked: 1100+ Days of Forced Captivity of Innocent Kashmir’s

Indian, Pakistani siblings reunite 75 years after Partition 1947

Indian, Pakistani siblings reunite 75 years after Partition 1947

Connect with us

Twitter

Economy.pk

Economy.pk touches diverse topics with a lighter note and is geared toward audiences with various interests and all ages. Come and explore Economy.pk. Ample details and analysis are provided in extraordinarily readable manner making them compelling and interesting at the same time.

Category

  • World
  • Politics
  • Business
  • Technology
  • Education
  • Health
  • Life & Style
  • Opinions

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin

Sitelinks

  • Sitemap

Download our APP

download on android app download on apple app
  • About
  • Advertise
  • Contact

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

  • LATEST
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Canada
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

No Result
View All Result

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In