Working paper prepared to make Pakistan Post into Pakistan Post Bank

MG News | July 06, 2020 at 12:45 PM GMT+05:00

0:00

July 6, 2020 (MLN): Pakistan Post is all set to be made into Pakistan Post Bank to help record all cash transactions through Post office, now that all the working paper has been prepared.

The aforesaid decision transpired after the Asia Pacific raised flag on functioning of Pakistan Post operations, stating that the transaction of cash through Pakistan Office appeared to be less documented.

Hence, the creation of Pakistan Post Bank is expected to accelerate pace of remittances and track all cash transactions.

Pakistan Post Office currently has 10,500 branches, out of which 2,400 Pakistan Post Branches have not been reached by any bank so far.

Moreover, Pakistan Post Office has around 2.1 million users and 38 million account holders in Pakistan as of now. With the creation of Pakistan Post Bank, the number of users is likely to increase to 65 million by 2023.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	161,631.73 408.94M	3.13% 4898.86
ALLSHR	98,254.73 951.34M	2.71% 2590.07
KSE30	49,377.29 213.50M	3.40% 1624.91
KMI30	232,700.28 121.13M	2.88% 6525.03
KMIALLSHR	64,179.60 399.93M	2.39% 1496.52
BKTi	46,334.17 105.09M	5.56% 2441.42
OGTi	31,362.73 10.58M	1.56% 482.31

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,880.00	111,630.00 107,835.00	2925.00 2.73%
BRENT CRUDE	64.58	65.15 63.81	0.21 0.33%
RICHARDS BAY COAL MONTHLY	86.00	86.00 86.00	-1.90 -2.16%
ROTTERDAM COAL MONTHLY	96.50	99.00 96.50	-2.70 -2.72%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	60.88	61.38 59.99	0.31 0.51%
SUGAR #11 WORLD	14.42	14.49 14.20	0.14 0.98%