KARACHI: The State Bank of Pakistan will impose up to Rs500,000 as penalty on foreign exchange companies in case of their non-compliance with the rules under the Foreign Exchange Regulation Act, 2016, the bank said. The penalty will increase Rs10,000 daily in addition to the prime penalty if an exchange company fails to comply with the regulations, the central bank said in a notice on its website. The bank got new powers under the Foreign Exchange Regulation Act, 2016 that allows the...