In the recent news, the State Bank of Pakistan (SBP) has enabled Non-Resident Pakistanis (NRP) to contribute to pension funds, authorized by the Securities and Exchange Commission of Pakistan (SECP) under Voluntary Pension Funds Rules 2005 (VPS Rules). “In order to improve the value proposition of NRVA and facilitate the NRPs, it has been decided to […]

In the recent news, Sindh Chief Minister Murad Ali Shah put forward the proposed provincial budget for fiscal 2022-23 with a total expenditure of Rs1.7 trillion in the assembly on Tuesday. In the budget allocation, Murad Ali Shah announced increasing government employees’ salaries by 15 percent and pensions by 5 percent and stated that if […]

Today, the State Bank of Pakistan (SBP) has issued another circular, under the category of Banking Conduct and Consumer Protection Department. The circular is based on the pension payment through Direct Credit System (DCS). Addressed to all the banking officials and the circular refers to another BC and CPD circular letter issued back in 2016. […]