$437m taken out from State Bank of Pakistan in 7 days

[sirimran]

I had a foreign currency account in Bank of Punjab in 1998 until 2004.

he doesnt know anything .... i have foreign currency account in pounds........

 

[Anmir]

State Banks reserves fell by $437 million to $10.680 billion.

Yeh bhee 10% main chalaa gayaa too SBP waloon kaa ghantaa bajj jaaygaa.

We have been given dollar cancer by the [west] IMF. The intrest payment to the cancerous system is soon to be be paid by our bankrupt nation. If we go to the west[IMF] for more loans to pay our intrest ,believe me our politicians will make the poor pay by sucking thier blood to feed the cancer.

Watch the writing is on the wall, you have to rid yourselves of the butchers who heve slaughtered every thing and the fat cats have raided the butchery and left it empty. Now the west will come to take the only thing left in the butchery your blood to suck up

 

[only_truths]

It was a personal account. I did it to buy some property in Zerakpur. I opened the account latter on deposited money in US dollars. When I bought the land I converted it into rupees and paid for it. I could withdraw from it on daily basis if i wanted. This was the extent I used it for.

Wow ! Zirakpur, the place I spent 8 hours of work time during day while commuting from Chandigarh everyday passing through Chandigarh Airport for almost six months as a trainer. That was the time most companies who want to do business from Chandigarh but wanted to avoid additional Central Sales Tax because of Chandigarh being UT. Zirakpur was the best option, it was no evasion of tax just avoiding double taxation. Panchkula in Haryana is another example of success due to proximity to Chandigarh.

 

[Aventador]

So you can walk up to your bank, withdraw dollars from your account on the spot?

Any limits?

You can't just walk in and ask your bank for dollars. In most cases the bank will not be having enough funds in dollars and i am talking about big banks like SCB. You have to call them a week or two before withdrawal so they can arrange the funds (that's my personal experience and not sure its the same for other banks). There are no limits that i am aware of. There are no withdrawal fees either.

 

[zeshaan]

Jaisay iss mulk kay hallat hain,Khazana khali hotay dair naheen lagaygee.
Waisay bhee har hakoomat kay janay kay baad khazana khali hootaa hay yaa hoo hee jata hay.

 

[Keepinformed]

You can't just walk in and ask your bank for dollars. In most cases the bank will not be having enough funds in dollars and i am talking about big banks like SCB. You have to call them a week or two before withdrawal so they can arrange the funds (that's my personal experience and not sure its the same for other banks). There are no limits that i am aware of. There are no withdrawal fees either.

Yes depending on the location of the bank branch and the amount and the medium of withdrawal and most importantly the brand of the bank. If its cash then of course no sane branch is going to keep 100s of thousands of dollars in it.

What usually happens is that if they run short, they usually call in the open market dealer. It has happened to me a couple of times when I needed cash dollars.

Its almost extremely stupid to deal with cash withdrawals in Pakistan. Bank staff is usually involved in robberies and if you inform them in advance and walk out of the bank with heavy bags of cash, get ready to be pounded by paper hungry men.

Now for wire transfers out of the country, its no problem because it is all done electronically.

 

[Aventador]

i recommend not to keep more than $5000 in your bank account. Get a locker account and keep it there so whenever you need it, you will not have to wait for your bank to arrange funds. In most cases if you need to withdraw e.g. 50k you can expect to wait for at least 1-2 weeks and in some cases over a month which in my opinion is insane. i mean what good is it for you if u don't have instant access to your money when you need it.