News
Posted on February 6th, 2012
The net foreign direct investment (FDI) continued to show negative growth of 63.6 percent with $386.6 million inflow in the first half of the current financial year mainly on the constant outflow of foreign portfolio investment (FPI). The FDI investment dropped by 36... more..
Posted on February 6th, 2012
The Pakistan State Oil (PSO) has requested the government to release Rs 150 billion, urgently so that it could pay outstanding liabilities to avoid the looming default, which at present stands at Rs 188 billion.
· At present, PSO's overdue amount has reached Rs 155... more..
Posted on February 6th, 2012
The Pakistan Cotton Ginners Association (PCGA) has expressed hope that cotton consumption in Pakistan would increase to 13 million as the European Union's waiver of 75 exportable items of Pakistan has enhanced cotton consumption of mills and spinners by 2 million bales to 13 million bales, against 11 million bales per season, due to increase in export orders for cloth and yarn. more..
Posted on February 6th, 2012
The price of liquefied petroleum gas (LPG) has reached a record high, as the state owned LPG producers have increased their production price by Rs 15,800 per ton, or Rs 16 per kg.
· A notification issued by Pak Arab Refinery (Parco) said: "Ex-Refinery price of LPG from Parco mid-country refinery, Mahmood Kot, for licensed marketing companies will be Rs 83,000 per ton... more..
Posted on February 6th, 2012
The government is considering increasing Public Sector Development Programme budget up to 20 per cent as the ruling coalition is aggressively spending on parliamentarians’ schemes apparently in an effort to lure voters.
· The proposal comes on the back of strong flows of project-based external loans that have started picking up, said sources in the Finance Ministry... more..
Posted on February 3rd, 2012
Pakistan’s foreign exchange reserves rose marginally to $16.87 billion in the week ending January 27 from $16.80 billion in the previous week. more..
Posted on February 3rd, 2012
The Federal Board of Revenue (FBR) has collected Rs 972 billion as tax during the last seven months, 26 percent more tax has been collected as compared to previous year. FBR has collected Rs 1558 billion during the last financial year as tax which was 17 percent more as compared to the corresponding period of the year 2009-10. more..
Posted on February 3rd, 2012
Prime Minister Syed Yousuf Raza Gilani on Thursday directed the Ministry of Petroleum to expedite the import of Liquified Natural Gas (LNG) to overcome the deficiency of more than two BCF (billion cubic feet) to provide substantial relief to domestic and industrial sectors. more..
Posted on February 3rd, 2012
Pakistan has proposed Afghanistan a uniform transit fee for the import of gas under the $7.6 billion Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project. Under the uniform transit fee plan Pakistan would receive the fee from India which it would pay to Afghanistan. more..
Posted on February 3rd, 2012
The ministry of finance said the total public debt that stood at Rs6.04 trillion in June 2008 surged to Rs10.996 trillion by end of first quarter of the current fiscal year, showing an increase of 82 per cent. The finance ministry said the total public debt at Rs10... more..
