Senate body informed: Banks may remit USD800m to money transfer operators
ISLAMABAD: Pakistani Banks are likely to remit around USD 800 million to money transfer operators abroad to facilitate remittance inflows, following the discontinuation of the Pakistan Remi
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Desk Analysis
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Sector Effect
Negative · Do not buy
Cautious read for Banks, Power — price/volume reaction may stay soft near-term.
Sectors & Direction
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Desk call: Do not buy · Negatively affected
- BanksNegatively affected
- PowerNegatively affected
Companies
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Sectors: Banks, Power — Negative · Do not buy. PSX tickers: MEBL, MCB, UBL, HBL, BAHL, FABL. Cautious read for Banks, Power — price/volume reaction may stay soft near-term.
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Open on Business RecorderISLAMABAD: Pakistani Banks are likely to remit around USD 800 million to money transfer operators abroad to facilitate remittance inflows, following the discontinuation of the Pakistan Remittance Initiative (PRI) scheme by the government.
This was revealed by Senator Saleem Mandviwalla, while chairing a meeting of the Senate Standing Committee on Finance and Revenue, her
Source: Business Recorder — https://www.brecorder.com/news/40436560/senate-body-informed-banks-may-remit-usd800m-to-money-transfer-operators