"Capital Smart City: Another master piece from the Capital Smart City launched one of its kind innovative & futuristic development - One Capital Residence." " "Nova City Islamabad has announced Nova City World - Overseas Block for its valuable customers. This state-of-the-art complex will offer luxurious modern amenities. " "Smart City has signed a MoU with Surbana Jorung. This will boast the position of Silicon Valley. " " Surbana Jorung will also design Cultural Village and some other miscellaneous projects" "RUDN Enclave: Development work in RUDN Enclave is on full swing. FWO also started construction of proposed Rawalpindi Ring Road." "Lahore Smart City’s new partnership with Galeria Designs, Raees Fahim, and Faisal Rasul. The future looks bright for Signature Villas!" "Dr Daniel been assigned the task of designing One Capital Residences would surely give birth to an aesthetic giant amidst the twin cities." "Alhamdolillah, with the grace of almighty Allah 2xHybird Double Decker Busses reached safely at Capital Smart City." "Capital Smart City has taken a pivotal step towards water filtration. This the filtration plant of capacity 4.5 Million Gallons per Day (MGD)."
March 29, 2021
SBP reserves surge by $275m in a week.

SBP reserves surge by $275m in a week

The data released on Thursday by the State Bank of Pakistan disclosed that the foreign exchange reserves held by the State Bank of Pakistan rose by $275million to $13,295 billion during the week.

On March 19, forex reserves held by the State Bank of Pakistan were recorded at $13,295 million, up $275 million contrasted with $13,019.7 million in the earlier week. SBP gave no justification for the increase in reserves.

Besides, overall liquid foreign currency reserves held by the country, including net reserves held by banks other than SBP, remained at $20,434.6 million. Moreover, the net reserves held by banks added up to $7,139.6 million.

Pakistan got the first loan tranche of $991.4 million from the International Monetary Fund (IMF) on July 09, 2019, which aided reinforce the reserves. Later in December 2019, the IMF delivered the second loan tranche of around $454 million.

The reserves also jumped on account of $2.5 billion in inflows from China. In 2020, the SBP effectively made foreign debt repayment of more than $1 billion on the development of Sukuk.

In December 2019, the foreign exchange reserves surpassed the $10 billion imprint attributable to inflows from multilateral lenders including $1.3 billion from the Asian Development Bank (ADB).

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