Summary State Bank has started an open-market operation on large scale to overcome the issue
LAHORE (Dunya News) – Imposition of withholding tax on bank transaction above Rs 50,000 has increased burden on ATMs and several banks are facing severe shortage of capital, reported Monday.
State Bank has started an open-market operation on large scale to overcome the issue.
After the imposition, traders majorly relied on cash to resolute their personal dealings and avoided transferring funds through banks.
The indulgence increases burden on ATMs and leads to shortage of capital which is why an open-market operation has been launched.
The State Bank has urged the Finance Ministry to look into the matter and take steps needed.
