Profits on National Saving Scheme up by 2%. In addition to this, rates will be revised quarterly instead of biannually. more...    Federal Excise Duty on cement up from PRs750 PMT to PRs900 PMT. more...    Federal Excise Duty on banking, insurance and franchise services up from 5% to 10%. more...    The government has decided to import 1m tons wheat in addition to 1.5m tons previously approved by the Economic more...    Inflation surged to an all-time high of 17.21% in April on the back of spiraling food and energy prices, more...    Sales of Pakistan Steel Mills during the first 10 months (July-April) of the current fiscal year rose by 31% more...    The country trade deficit rose to an all time high of US$16.08bn in the first ten months of FY08. more...    The Securities and Exchange Commission of Pakistan (SECP) has opposed a proposal of Karachi Stock Exchange (KSE) for incorporating more...    Crude oil prices made a new high with WTI and AL reaching US$126/bbl and US$122.8/bbl respectively more...    WTI and AL crude shot to record levels of US$121.8/barrel and US$116.5/bbl on Tuesday because of supply worries and more...    The National Commodity Exchange Limited (NCEL) has sought approval of the Securities and Exchange Commission of Pakistan (SECP) to more...    The world seventh largest bank, the Royal Bank of Scotland (RBS), has acquired over 95% shares of ABN AMRO more...    The Ministry of Finance has given a revenue collection target of PRs1.2tn to the FBR for FY09 more...    MCB Bank on Monday announced that Maybank had signed agreement to buy 15% stake in the bank now and more...    Two major European banks – Nordic Investment Bank (NIB) and European Investment Bank (EIB) – have agreed to provide more...    The government of Japan will extend about US$480m (48bn yen) loan on 1.2 percent rate of interest, double the more...    Malaysia biggest financial bank Maybank is expected to announce acquisition of 15 percent shareholding of MCB bank limited today more...    NAB has arrested some of the senior officials including ex-president of Bank of Punjab in connection with bank fraud more...    The government has increased petroleum products prices for next 15 days by PRs3/litre except kerosene oil to pass on more...    The Ministry of Petroleum (MoP) has prepared a new tax regime for the refineries with focus on removal of more...    The Competition Commission of Pakistan (CCP) has got substantial evidence to proceed against the All Pakistan Cement Manufacturers Association more...    NBP earnings for first quarter of CY08 rose by 5.3% to PRs4.6bn (EPS: PRs5.08) over PRs4.3bn (EPS: PRs4.83) in more...    PTCL posted loss of PRs6.6bn (LPS:PRs1.29) in 9M/FY09 compared to a profit of PRs11.9bn (EPS: PRs2.33) recorded previously. more...    HUBCO earnings for nine months of FY08 fell by 1.6% to PRs1.99bn (EPS: PRs1.72) as against PRs2.02bn (EPS: PRs1.75) more...    OGDCL earnings for nine months of FY08 rose by 4.7% to PRs36.2bn (EPS: PRs8.43) and announced PRs2.25 third interim more...    Pakistan and Iran cleared way for the signing of the US$7.5bn Iran-Pakistan-India (IPI) gas pipeline agreement after removing the more...    Toyota Motor Corporation of Japan announced its decision to acquire an additional 9.83m shares in Pakistan’s Indus Motor Company more...    The International Power (IP) of the United Kingdom has decided to invest more in Pakistan to expend KAPCO by more...    HBL EPS rose to Rs5.62 in 1Q/CY08 from Rs4.72 in the previous year while that of ENGRO jumped to more...    The Federal Board of Revenue has exempted 2.5% tax charge on sasle of locally manufactured cars till June 30, more...    Pakistan total outstanding domestic debt rose to Rs2.967 trillion ($48 billion) by the end of February 2008, from Rs2.6 more...    Italy keen to invest in infrastructure in country, Ministry of Finance has identified 44 projects worth $1.4 billion in more...    Oil jumped $2 to record highs near $120 a barrel on Tuesday on supply concerns from Nigeria and the more...    The Pakistan Telecommunication Authority (PTA) has increased Approved Settlement Rate (ASR) by 100%, which would make calling to Pakistan more...    Italian oil company Eni SpA has started production from its Badhra natural gas field in Pakistan and completed boosting more...    The Board of Directors has decided to convert the Al-Baraka Islamic Bank from a foreign bank to a locally more...    Oil and gas production from Pindori falls to 894bpd and 3.1mcfd more...    Prices of Di-Ammonium phosphate (DAP) is likely to increase to PRs3,800 per bag in May-June and to PRs4,000 per more...    According to the (APCMA), the cement exports have registered a 139% growth to reach 5.1m tons so far in more...    Strong domestic demand and rising food and energy prices pushed up inflation in the month of March to an more...    Banking sources have revealed that a major shareholder of Mybank had initiated the process to assess value of its shares more...    Pakistan’s foreign reserves fell by $141m to $13.13bn in the week that ended on April 5, the central bank more...    State Bank of Pakistan has slashed special cash reserve requirement (SCRR) of Islamic banks, apparently in a move to more...    Sui Northern Gas Pipeline (SNGPL) management submitted a PRs30bn 5-year investment plan to the Minister for Petroleum, Muhammad Asif, more...    The government made the strongest of hints so far that it might end tax immunity on capital earnings through more...    The Federal Board of Revenue (FBR) has collected PRs.678.9bn during first nine months (July-March) of fiscal 2007-2008 against PRs.597Bn more...    Bank Alfalah Limited is acquiring a 15 per cent stake in the National Clearing Company of Pakistan Limited (NCCPL). more...    The Italian government has converted a loan of $100 million into development project funding under a swap arrangement. more...    ADB lowered economic growth targets of Asian nations for FY08 with an aggregate ex-Japan growth rate at 7.6% compared more...    The takeover deal of majority stake in Saudi-Pak Commercial Bank by a consortium of International Finance Corporation (IFC), Bank more...    Prime Minister Yousuf Raza Gilani reiterated the resolve for provision of additional 2200MW of electricity within one year and more...    The consumer price index (CPI) rose to 11.3 percent (YoY) in February 2008, from 7.0 percent in June 2007 more...    The State Bank of Pakistan has proposed revamping of subsidised food programme for low-income groups, suggesting involvement of private more...    The Planning Commission has proposed annual development outlay of Rs623 billion (5.4 per cent of GDP) in the shape more...    Prime Minister Yousuf Raza Gilani is all set to ink the first-ever power sector pact of his government with more...    The Federal Board of Revenue (FBR) has collected PRs 4.1bn as Special Excise Duty (SED) during July-December (2007-2008) against more...    Pakistan has been deprived of a huge amount of $500 million from its basmati rice export alone in the more...    The current account deficit has reached negative $8.42 billion during the first eight months of 2007-08 that is 43.7 more...    The powerful cartel of cement makers continues to cash the rising demand as they have further increased the rate more...    The Securities and Exchange Commission of Pakistan (SECP) has asked National Commodity Exchange Limited (NCEL) to broaden its shareholder more...    Services trade deficit widened by 40 percent to new high level of $4.224 billion during the eight months of more...    The Federal Board of Revenue has agreed to give income tax exemption on the expansion of power projects by more...    The Federal Board of Revenue (FBR) has exempted one percent special excise duty (SED) on import of vehicles, aircraft/vessels, more...    The Securities and Exchange Commission of Pakistan (SECP) has announced that the CFS Mk-II will run from April 7, more...    MOL Pakistan, the operator of Tal Block on has signed a $119 million contract with the consortium of PDIL more...    Standard & Poors maintained its negative outlook on Pakistan despite the appointment of a new prime minister as the more...    Tuwairqi Steel Mills a subsidiary of the Al-Tuwairqi Group has planned to invest in alternative energy and utilise Thar more...    The Asian Development Bank (ADP) is regrouping officials of Turkmenistan, Afghanistan and Pakistan in the third week of April more...    The country’s domestic debt has gone up by PRs347bn to PRs2.944 trillion during the seven months of the current more...    LPG marketing companies have reduced prices of liquefied petroleum gas by PRs1.5 to PRs55 a kilogram, and 11.8 kg more...    The National Assembly will elect the new Prime Minister today in a landmark move to take home the process more...    The Pakistan State Oil (PSO) has proposed a long-term fuel supply agreement (FSA) between the Gencos and oil marketing more...    Pakistan Steel (PS) has raised the prices of five steel products, including billet, pig iron and galvanised iron by more...    NBP GDR to be floated this fiscal The government has decided to float Global Depository Receipts (GDRs) of National Bank more...    The US Federal Reserve slashed key interest rates three-quarters of a point, bringing the federal funds rate to 2.25 more...    All Pakistan Textile Mills Association (APTMA) has launched a broad-based initiative for conservation of energy. The programme that basically more...    The government has decided to launch multipurpose three new saving schemes of short duration for general public, which are more...    The Finance Division priorities committee will start its budgeting exercise from March 31, which is likely continue for around more...    Pakistan Electric Supply Company (Pepco) informed that Power load shedding in the country will continue till 2010 due to more...    The Ministry of Water and Power has arranged emergency grant of PRs 2.1 billion from the Finance Ministry to more...    The prices of petrol and diesel are likely to go up by PRs 4.50 and 2.50 per litre respectively more...    The country first electronic commodity trading platform,National Commodity Exchange Limited (NCEL) has formally started rice trading based on three-month more...    Global oil prices rose to a record all time high $109.85 as the dollar plumbed new all-time lows against more...    The Securities and Exchange Commission of Pakistan (SECP) has decided to conduct an inquiry into the misstatement by NIB more...    The State Bank of Pakistan (SBP) raised cut-off yield on three, six and twelve-month T-bills by 9 bps, 6.6 more...    The Consumer Price Index (CPI) rose by 11.25% in February 2008 due to ballooned food inflation to 16.0% taking more...    The SBP fixed minimum cash margin requirement for financing of wheat procurement during 2008 at 25% of the value more...    The services trade deficit swelled heavily by over 50% to US$4.0bn in 7M/FY08 as against US$2.6bn in the same more...    Global oil prices rose to a record high, with WTI crude touching US$107.90/bbl and Brent reaching US$104.16/bbl. more...    The government has asked Iran to close the gas pipeline project, with or without India, by April to help more...    Ogra has dismissed a petition filed by the Progas Pakistan Limited (PPL) challenging the Authority decision to determine a more...    Indus Motors has enhanced the prices of all the models of Coure and Corolla diesel by PRs10,000 and PRs20,000 more...    The GoP’s subsidy on diesel is expected to enhance further in the country as the price of crude oil more...    Banking sector’s weighted average lending rates rose by 8bps in January 2008 to 11.29% from 11.18% in January 2007, more...    The Special Convertible Rupee Account reached US$21m on March 07, 2008 after an outflow of US$2m more...    The National Clearing Company of Pakistan Limited (NCCPL) has imposed condition for the deposit of 50 percent cash margin, more...    Global oil prices rose to a record high, with WTI crude touching US$105.47/bbl and Brent reaching US$102.82/bbl mark. At the same more...    Country’s largest steel producer, the Pakistan Steel has raised prices of seven steel products by Rs2,500 –Rs7,500per ton in the wake more...    A Memorandum of Understanding (MoU) was signed between the Karachi Stock Exchange and the Dubai Stock Exchange Market to develop and strengthen capital markets more...    The SECP has approved book building process as part of the listing regulations of the Karachi Stock Exchange in line with more...    KSE announced readiness of Karachi Automated Trading System (KATS) for the Financial Information Exchange (FIX) protocol Connectivity more...    A net outflow of US$32.559m from the SCRA account was observed on March 4, 2008 which has taken the cumulative year to more...    Government has given subsidy amounting to Rs80bn from July-February 2007-08 on petroleum products to secure the consumers from the more...    Textile products have missed the export target in the first seven months (July-January) of current fiscal year by huge more...    Domestic gold prices continue to scale new historical peak, touching PRs20,014 per ten gram more...    The profitability of 18 cement manufacturing companies out of 20 listed on Karachi Stock Exchange (KSE) has sharply declined more...    SECP has decided to determine non-resident investors net flows in the local capital market on a daily basis and more...    Abraaj Capital announced that it has acquired a stake in the holding company of Bosicor Group (Bosicor).Abraaj will also more...    The net loss of Pakistan International Airlines Corporation (PIAC) has increased to PRs13.40bn in the year ended December 31, more...    Pakistan will issue an Islamic bond, or sukuk, in the fiscal year ending June 30, and the size and more...    Oil prices will not fall below $60 to $70 a barrel as this is the minimum level at which more...    The Government has decided to reconsider wheat procurement price, as the new rates, approved by the Economic Coordination Committee more...    The Sindh Government is paying around Rs 1.5 billion per year as loan interest to the international financial institutions more...    The Bank of Punjab posted a PAT of PRs4.4bn (EPS: PRs10.51) during CY07 compared to PRs3.8bn (EPS: PRs8.99) recorded more...    Bosicor’s earnings for 1H/FY08 rose to PRs143m (EPS: PRs0.37) over a loss of PRs946m (LPS: PRs2.41) last year more...    The Board of Privatization Commission approved the transaction structure for divesting 93.9% shares of SME Bank with the management more...    OGDCL’s earnings for 1H/FY08 rose by 3.8% to PRs24bn (EPS: PRs5.58) over PRs23.1bn (EPS: PRs5.37) previously and announced a more...    PTCL posted a loss of PRs9.5bn (LPS: PRs1.87) during 1H/FY08 compared to a profit of PRs8.4bn (EPS:1.64) recorded in more...    The KSE has announced that Stock Index Futures Contract shall commence through KATS from March 03, 2008 more...    The SBP raised the cutoff yield on six months and one year T-Bills by 8bps and 6bps respectively to more...    DG Khan Cement posted PAT of PRs330m (EPS: 1.30) in 1H/FY08 down 61% over PRs855m (EPS: PRs3.4) in 1H/FY07 more...    Qatar Group of Company has annulled US$225m project for setting up cement plant near Dhabeji, due to delay in legal documentation more...    The Bank of Punjab has applied to the SBP for the issuance of a license to launch Islamic banking more...    BAFL posted PAT of PRs3.1bn (EPS: PRs4.82) in CY07 up by 78% over PRs1.8bn (EPS: PRs2.71) in CY06. The bank also more...    The Finance Director of Lucky Cement has said that he company intends to offer its stalled GDR worth US$150m during the more...    The government fixed wheat price at PRs510/40kg (20% higher than last year’s support price of PRs425/40kg)for public sector procurement more...    Pakistan’s current account deficit increased by 47% in 7M/FY08 to US$7.5bn due to huge imports on account of goods more...    FDI of the country went up by 8% to US$2.3bn in 7M/FY08 as against US$2.1bn in 7M/FY07. However total more...    SCRA stood at US$67.3m after an inflow of US$79.0m in a single day on February 22, 2008 more...    Askari Bank posted 19% rise in net earnings in CY07 to PRs2.7bn (EPS: PRs8.92) as against PRs2.3bn (EPS: PRs7.48) more...    The SECP announced implementation of CFS MK-II Funding System to be launched by National Clearing Company of Pakistan from more...    Saudi Arabia declined a Pakistan request for supply of oil on deferred payments more...    Fauji Cement’s PAT declined by 218% to PRs115m (EPS: PRs0.31) in 1H/FY08 as compared to PRs366m (EPS: PRs0.98) in 1H/FY07 more...    World oil prices raced to a historic high of US$100.74/bbl due to renewed global supply jitters more...    The price of wheat stands at more than PRs600 per 40 kg as compared to PRs500 per 40 kg proposed for more...    Importers of DAP raised the price of the nutrient by PRs500/50kg bag across the country due to soaring international more...    Karachi Stock Exchange and Abu Dhabi Securities Market have signed a MoU to develop and strengthen capital market activities more...    Omantel said that it had paid US$193m to acquire 60% (488.8m shares) stake from the management and 5% additional more...    Habib Bank declared a PAT of PRs8.0bn (EPS: PRs11.65) in CY07 as against PRs12.1bn (EPS: PRs17.46) in CY06. The more...    UBL’s earnings declined by 11% to PRs8.4bn (EPS: PRs10.38) as compared to PRs9.5bn (EPS: PRs11.70) in CY06. The bank more...    ICI Pakistan posted a 23% increase in its CY07 earnings to PRs1.8bn (EPS: PRs12.86) over PRs1.5bn (EPS: PRs10.49) in more...    SHELL posted a PAT of PRs1,689m (EPS: PR30.83) in 1H/FY08 as against a loss of PRs394m (LPS: PRs7.19) in more...    The SBP has increased the cutoff yield on 3, 6 and 12 months T-bills by 36bps, 43bps and 47bps more...    A new report by the Asian Development Bank says Pakistan’s gas distribution system is ageing and is suffering from more...    The SBP Governor has urged the textile industry to seek consolidation of the sector through mergers and acquisitions in more...    Banks have disbursed PRs90.3bn to the agriculture sector during 1H/FY08 as against PRs71.7bn given in the same period of more...    The SBP Governor has firmly ruled out any possibility of devaluation of Pakistani currency and declared in categorical terms more...    Pakistan Refinery (PRL) posted a PAT of PRs1.2bn (EPS: PRs38.54) in 1H/FY08 as compared to loss of PRs813m (EPS: more...    The Consumer Price Index (CPI) rose to 11.86% in January 2008 taking the cumulative figure for 7M/FY08 to 8.56% more...    A special meeting of the Cabinet Committee on Privatization will be held on February 15, 2008 to discuss and more...    Trade deficit during July – January FY08 surged by 35% to US$10.3bn with exports and imports increasing by 6% more...    The caretaker government is re-examining the entire oil pricing mechanism in view of the undue profits going to oil more...    The Governor of SBP has said that budgetary borrowing by the government from the SBP reached a historic level more...    The banking sector’s weighted average lending rates rose by 83 basis points to 11.3% in CY07 whereas the weighted more...    The country’s forex reserves have dipped to the lowest level of current fiscal year to US$14.8bn on February 02, more...    PTCL has made an investment of US$50m in a submarine cable, as part of a consortium that will put more...    The Executive Committee of the National Economic Council approved 23 new development projects costing PRs309.1bn and revised the cost more...    The government has decided to rationalize this year’s development program to meet the rising fiscal gap by restricting the more...    The government has appointed Sardar Yasin Malik of Hilton Pharma Group as new chairman of PSO and Aleem Khan more...    Federal Finance Minister has said that the Global Depository Receipts of NBP, HBL and KAPCO together with Euro Bonds more...    The US Exim Bank has made arrangement with three Pakistani banks – NBP, MCB and Standard Chartered Bank to more...    Bahrain Islamic lender AlBaraka Banking Group said that it is eyeing a US$40m share sale in Pakistan and more...    The government granted petroleum exploration license to the joint venture of New Horizon Exploration and Production and Kuwait Energy more...    Pak Suzuki and Indus Motors increased prices of their various models in the range of PRs2,000 to PRs30,000 citing more...    Pakistan’s domestic debt shot up by 8.6% to a new peak of PRs2.8tn in 5M/FY08 due to more...    FFC posted profit after tax of PRs5.4bn (EPS: PRs10.86) in CY07 as against net earnings of PRs4.6bn (EPS: PRs9.39) more...    The SBP has decided to further tighten its monetary policy by raising the discount rate by 50 basis points more...    The KSE expected to launch Stock Index Futures soon after the launch of Deliverable and Cash Settled Futures more...    The Federal Reserve cut its key interest rate by half a percentage point to 3% more...    SBP received bids of PRs5bn for T-bills against a target of PRs65bn, but rejected them all. Participation was low more...    Energy managers of the country have proposed two major options to the government: either to pass on PRs0.2 to more...    The Privatization Commission board decided to launch the process for the listing of KAPCO in the international market through more...    SBP increased the cut-off yield on all tenors of PIBs, reflecting a change under rising inflationary pressure on the more...    The diesel shortage may worsen in the month of March as a consortium led by Habib Bank has refused more...    Car assemblers maintained a slow pace in production during January 2008 after slashing parts procurement from their vendors by more...    The Pak Arab Refinery (PARCO) signed an agreement with a consortium of China National Chemical Engineering Group and Hyundai more...    About 3,000 textile manufacturing units were totally closed down due to cut-off in gas supply by SNGPL, as a more...    The OGDC discovered gas and condensate in its exploratory Passkhi East Well. The new discovery will supply an additional more...    Pakistan Telecommunication Authority has decided to increase the numbering digits from seven to eight for both the fixed line more...    The first installment of 6,000 tons of cement imported from Pakistan by India is expected to reach Chennai and more...    Pakistan’s current account deficit jumped up by 31% to US$6.1bn in 1H/FY08 due to rising trade services and income more...    FFBL declared PAT of PRs2.5bn (EPS: PRs2.72) in CY07 as against the net earnings of PRs2.4bn (EPS: PRs2.62) a more...    PPL’s net earnings grew by 10% to PRs9.3bn (EPS: PRs12.32) in 1H/FY08 as compared to PRs8.4bn (EPS: PRs11.20) in more...    The SECP has said that there will be no relaxation in time frame given in the stock exchanges Ordinance more...    The Continuous Funding System (CFS) Mark-II is ready to be implemented in the next three to four weeks, while more...    The chairman of SECP said that two new products – Index Future and Options are in the pipeline to more...    The Special Convertible Rupees Accounts witnessed another outflow of US$50m on January 22, 2008 taking the year to date more...    The Country received Foreign Direct Investment of US$2.1bn in 1H/FY08, up by 10% over US$1.9bn in 1H/FY07 whereas portfolio more...    The federal cabinet approved the ordinance for the Corporatization, Demutualization and Integration of stock exchanges. The Ordinance will ensure more...    Bosicor Pakistan announced that it is in talks with certain parties which eventually would result in passing over of more...    President Musharaf has turned down the proposal for a change in the policy of subsidizing petroleum products and directed more...    Cement exports to Russia are expected to resume in the wake of cut in the local consumption due to more...    Stocks plunged across the world yesterday, with markets in Europe, Asia and Latin America tumbling by up to 7% more...    The ministry of finance has cleared a proposal of the ministry of petroleum for arranging PRs40.0bn syndicated loan from more...    The government is considering increasing petroleum prices from February 01, 2008 more...    The National Insurance Co. is likely to offer a total compensation of about PRs225-230m against the claim of PRs300m more...    Overseas Pakistanis remitted US$3.1bn during 1H/FY08 showing an increase of 19.4% over US$2.6bn received in the same period of more...    Jura Energy Corporation has announced the successful drilling of Khanpur 2 well in the Block 22 Gas Field in more...    The Siemens Pakistan Engineering Co. has teamed up with the Flying Cement Co. to manufacture a state-of-art 132KVA more...    US$12.8m was withdrawn by foreign investors from SCRA on January 15th taking the cumulative outflow for January so far more...    Decision on raising oil prices and determining the size of Public Sector Development Program (PSDP) has been deferred for more...    Mr. Shaukat Tareen has been re-elected Chairman of Karachi Stock Exchange for another term more...    The President will be reviewing the country’s economic situation today and a formal decision to slash the Public Sector more...    Pakistan is reported to be seeking to import oil from friendly Islamic countries – Saudi Arabia, UAE and Kuwait more...    OGRA revises price of Meyal and Dhulian gas fields by 2.4% to PRs79.7/mmbtu, which are Operated and 100% owned more...    CPI inflation in December stood at 8.8%, whereas for the period 1H/FY08 it averaged 8%, 40bps less than last more...    Prices of DAP has increased to PRs1800-1850 per bag in the domestic markets due to short supply more...    Caretaker Minister for Petroleum and Natural Resources has said that the GoP would sign more than 30 oil and more...    The SCRAs fell to negative US$3.3m on January 11, 200 after another outflow of US$3m more...    The Cabinet refused to impose ban on issuance of new trading rights entitlement (TRE) certificates until June 30, 2010, more...    The government will arrange to draw PRs32.0bn from banks to pay the Independent Power Projects against amounts owed by more...    The shortage of DAP fertilizer in the market for the current wheat crop has pushed up the price of more...    The Special Convertible Rupee Account continued its downward momentum to touch negative US$0.35m on January 10, 2008 after an more...    Saudi Pak Industrial and Agricultural Investment Company (SAPICO) has agreed to sell 68% stake of Saudi Pak Bank to more...    Economic Coordination Committee (ECC) of the cabinet has approved the GoP’s guarantee for arranging PRs20bn from the local more...    The Special Convertible Rupee Account witnessed another outflow of US$13m on January 08, 2008 to reach US$3m more...    The Economic Coordination Committee of the Cabinet approved the signing of gas sale/ purchase agreement with Iran for the more...    The Special Convertible Rupee Account witnessed another outflow of US$17m to reach US$16m on January 07, 2008 more...    Dubai-based TransAsia Gas International is in talks to develop an oil refinery in Pakistan and Sri Lanka at a more...    Pakistan and Iran will sign a gas sales and purchase agreement (GSPA) for their cross-border pipeline project next week, more...    Around 9,565 vehicles of various categories were imported during the first half of the current fiscal valuing PRs4.9bn as more...    Importers raised DAP prices by PRs400/50kg bag reaching a historic level of PRs1,680/bag more...    The SBP in its quarterly report has said that all key performance indicators recorded a significant decline during 1Q/FY08 more...    Bank Muscat, Nomura Investment (Japan) and International Finance Corporation have acquired 68% stake in Saudi Pak Bank for US$160m more...    Local producers (FFBL & FFC) increased prices of urea in the retail markets by PRs10/bag and the new more...    Forex Reserves of the country stood at US$15.7bn in the week ending December 29, 2007 after rising by US$22m more...    Pakistan oil import bill reached US$3.8bn in 5M/FY08, rising by 14.8% over US$3.3bn in the same period of last more...    LPG marketing companies have once again increased the ex-plant rate of LPG to PRs950 more...    The Election Commission postponed general elections till February 18,2008 more...    Cement sales jumped by 24% in 1H/FY08 to 13.9m tons as compared to 11.2m tons in the same period more...    Oil prices vaulted a record US$100 a barrel as violence in Nigeria, tight energy stockpiles and a weaker dollar more...    The State Bank of Pakistan (SBP) has introduced a new long-term financing facility (LTFF) to promote exports-led industrial growth more...    The government increased natural gas rates for commercial and industrial sectors by an average seven percent with immediate effect, more...    The WAPDA directed all Independent Power Producers (IPPs) to maintain a 21-days stock of Residual Furnace Oil otherwise action more...    The elections scheduled for January 08 are most likely to be put off till February end more...    The SBP has approved the schemes of amalgamation and consequently the merger of PICIC and PICB with and into more...    Federal Cabinet once again deferred draft Stock Exchanges, Corporatization, Demutualization and Integration Ordinance 2007, frustrating SECP’s efforts to promulgate more...    The federal cabinet is likely to approve the draft Stock Exchanges, Corporatisation, Demutualisation and Integration Ordinance 2007 today, empowering more...    Estimated number of damaged bank branches could reach over 150 as 41 branches of Allied Bank alone were targeted more...    Pakistan Peoples Party (PPP) named 19-year-old son of its slain chairperson as its new leader and announced it would more...    The foreign direct investment (FDI) of the country increased by 16% to US$1.7bn in 5M/FY08 whereas the portfolio investment more...    Pakistan’s current account deficit during 5M/FY08 increased by 17% to US$4.8bn from US$4.1bn in 5M/FY07 mainly due to rising more...    The SECP may be empowered to impose PRs20m penalty on a stock exchange not complying with its orders more...    The GoP managed to revive Mercedes-Benz manufacturing plant project in Sheikhupura in a bid to secure US$4.0bn foreign direct more...    Askari bank sold part of its holding of equity shares in Allied Bank and expects to record PRs1.7bn gain more...    The government will evolve a long-term policy for auto parts industry to help increase its exports in international market more...    The State Bank of Pakistan (SBP) has granted license to Barclays Bank to start banking operations in Pakistan more...    The International Monetary Fund (IMF) has appreciated Pakistan’s sustained high growth and also acknowledged that adherence to pro-poor policies more...    India hoped that work would start on the Iran-Pakistan-India gas pipeline project by March next year more...    The SECP has proposed a three-years imprisonment for brokers for opening and maintaining fake accounts with the Central Depository more...    Faysal Bank has announced its intent to accept the government’s offer of redemption of 10% (16.7m) of total NIT more...    Russia has allowed Pakistani banks- NBP and Askari Bank to open their branches in Mosco more...    Pakistan has decided to increase trade with China to US$15.0bn in next five year from US$5.0bn at present and more...    The country has around one week’s diesel reserves but the oil marketing companies dispel any fear of energy crisis more...    The committee headed by water and power secretary has recommended NEPRA to fix the up-front tariff at 9-11 cents more...    The GoP is planning to sell all the existing thermal power plants and hydel generation facilities of WAPDA more...    The caretaker government has directed LPG producing companies to reduce the LPG base-stock prices by 10% from PRs39,809 to more...    Ministry of Finance decided to issue fresh Letter of Comforts (LoCs) valid till December 31, 2008 to four banks more...    The foreign exchange reserves of the country declined by 5% since imposition of emergency to US$15.6bn up till December more...    Finance Minister has approved a 10% (60 paisa per unit) increase in power tariff for all categories of consumers more...    The Petroleum Industry asked the President to allow a PRs2 per liter increase in POL prices every fortnight more...    The caretaker cabinet an increase in electricity tariff by 10 paisa/unit for all consumers, including those of the KESC more...    The prices of cement are likely to increase in the market due to high cost of production owing to more...    Pakistan’s trade deficit widened by 32.4% in 5M/FY08 to US$7.2bn as against US$5.4bn in 5M/FY08 due to 18% growth more...    The GoP has asked the oil marketing companies to import 0.4m tons of high speed diesel during the current more...    The Consumer Price Index (CPI) rose to 8.67% in November 2007 taking the cumulative figure to 7.85% in 5M/FY08 more...    The OGRA recommended the GoP to increase the prices of petroleum products from December 15, 2007 and allowed SNGP more...    The caretaker Cabinet is likely to approve the “Stock Exchanges Corporatization, Demutualization and Integration Ordinance 2007” more...    SSGC signed an agreement with BankIslami and Pak Brunei Investment Co. to fund PRs5.0bn through Sukuk financing for its more...    The Cabinet will approve a 10 paisa raise in the power tariff for the financing of 960MW Neelum-Jhelum Hydropower more...    Diamond Bar Island City to be constructed in the vicinity of Port Qasim is likely to attract US$43.0bn foreign more...    Saudi Arabia plans to allow foreigners to invest in its stocks and initial public offerings through domestic funds more...    The Global Corruption Barometer 2007 survey report released by Transparency International said that people in Pakistan who paid bribe more...    The Ministry of Finance is deliberating on what to do with Letter of Comfort holders in National Investment Trust more...    The SSGC has sought a second increase in prescribed prices by PRs9.98/mmbtu from January 01, 2008 in order to more...    OPEC froze oil output levels, resisting calls for a hike to help cool sky-high prices that have almost scraped more...    The local producers of fertilizers have raised urea prices by PRs10- PRs27 per bag in the domestic market to more...    Oil marketing companies turned down the government’s offer to get financing from HBL-led consortium of local banks against their more...    The SECP advised the stock exchanges for full implementation of Financial Institutions Margining System before December 7, 2007 more...    The State Bank of Pakistan will return US$400m to the banks and DFIs to give them a temporary liquidity more...    The State Bank of Pakistan has reduced Special Cash Reserve requirement from 15% to 5% aimed to provide liquidity more...    The Port Qasim Authority is planning to construct a dedicated coal and clinker/cement terminal at Port Qasim at a more...    After an increase of PRs10-15 per 50kg bag made by the Punjab-based cement makers, producers in Karachi and other more...    The caretaker government removed a 15% duty on sugar export and increased the duty on its import to help more...    Oil Marketing Companies cut down furnace oil prices by PRs1,035 per ton to PRs36,827 from PRs37,862 per ton more...    Foreign portfolio investment in the country declined by US$220m during November 2007, bringing down the total inflow of foreign more...    President Musharaf promised to lift the state of emergency and withdraw the Provincial Constitution Order (PCO) on December 16, more...    Habib Bank has sought approval of the Economic Coordination Committee of the Cabinet for acquiring up to 10% shares more...    The National Electric Power Regulatory Authority allowed the KESC to increase power tariff by 21 paisa/ unit across the more...    President Musharaf is likely to lift emergency after taking oath for a second five-year term at President’s House more...    Services sector trade deficit has widened by 26% to touch US$2.0bn in (July-October) 4M/FY08 mainly due to high payments more...    The KESC will start generating 75MW of electricity on its own by the middle of December 2007 more...    President General Musharaf began two-days round of farewell calls to the Services Chiefs at the end of his more...    The GoP collected PRs25.0bn revenue on petroleum products so far this year that could be used to partly offset more...    The petroleum ministry proposed an increase of PRs8.6/ liter in petrol price and a hike of PRs5.5/ liter more...    The Karachi Stock Exchange intends to initiate a process of special audit of stock brokers for which 15 brokerage more...    General Pervez Musharraf would be sworn in as a civilian president on Thursday more...    Former Prime Minister Nawaz Sharif retuned to the country on Sunday more...    Net outflow on November 23rd fell by US$53m taking the cumulative net outflow during November 2007 so far to more...    OGRA has proposed to the GoP to increase gas prices by 7% owing to rise in international oil prices more...    The Commonwealth ministerial committee decided to suspend Pakistan from the 53-nation bloc pending the return of the rule of more...    The SECP enhanced the capital requirement for the Non-Banking Finance Co’s and categorized NBFCs into two groups where 1st more...    The Supreme Court has dismissed the sixth and final petition challenging General Musharaf’s candidature for the office of the more...    Pakistan asked the Commonwealth to postpone its decision to suspend Pakistan’s membership and send a delegation to Pakistan to more...    The importers/ manufacturers of urea/DAP informed the government that prices of fertilizers might be increased in the current Rabi more...    Shell and its partners’ offshore drilling project has ended in a failure and as a follow-up the structure was more...    The Election Commission announced that polling for the national and provincial assemblies would be held on January 8, 2008 more...    The Oil and Gas Regulatory Authority (Ogra) allowed 6.56% increase in the prescribed prices of natural gas for all more...    Foreign Direct Investment (FDI) touched US$1.3bn in 4M/FY08 increasing by 4% on y-o-y basis whereas the portfolio investment declined more...    The Supreme Court dismissed all petitions (except one) which had been filed before the proclamation of the state of more...    Shell and other private oil companies have expressed their inability to pay refineries for purchase of oil from December, more...    Construction work on 51km Peshawar-Torkham Expressway costing PRs11.0bn would start in January 2008 and it would be completed within more...    Remittances by overseas Pakistani’s reached a record level of US$580m in October 2007 taking 4M/FY08 figure to US$2.1bn as more...    The Asian Development Bank (ADB) has assessed that due to lower than expected returns, potential investors have opted out more...    Pakistan State Oil says that it is in serious financial crisis due to non-payment of outstanding amount of PRs8.0bn more...    Senate Chairman Mohammad Mian Soomro will take oath as the caretaker prime minister today after dissolution of the National more...    The government will pay over PRs17bn as 50% share of PRs35bn layoff cost of rendering more than 29,000 employees more...    The Trading Corporation of Pakistan (TCP) will import 150k tons of urea from Saudi Arabia to meet the more...    Car manufacturers have reported to have slashed the supply order of parts and accessories from vendors by 40-50% for more...    SCRA recorded the highest single day outflow of US$88m on Nov 13, leaving the cumulative figure at US$135m more...    The Consumer Price Index (CPI) surged to 7.64% in 4M/FY08 over 8.35% in the same period of last year. more...    Mari Gas Company has made a discovery of 11.32mmcfd gas at Bhitai Exploratory Well no.1 with in its Mari more...    Pakistan has entered into an agreement with a UAE based company to set up US$5.0bn oil refinery project at more...    National Bank’s net earnings grew by 5% to PRS14.8bn (EPS: PRs18.09) in 9M/CY07 as against PRs14.0bn (EPS: PRs17.18) in more...    The Commonwealth gave Pakistan a 10-days deadline to restore its constitution and lift other emergency measures or face suspension more...    China Development Bank signed an MoU with NBP to provide US$100m credit line to the bank for project financing more...    The leading brokers and KSE board of directors proposed to the Prime Minister to abolish or at least further more...    Pakistan has put off a plan to sell part of its stake in National Bank (NBP) through the GDR more...    Worldcall Telecom Limited announced that the major sponsors of the company had accepted Oman Telecommunication Company’s (Omantel) bid for more...    The Sindh government will provide 400 acres of land to a Gulf-based firm to set up a cement plant more...    The current account deficit in 1Q/FY08 to US$2.1bn as compared to US$2.8bn in the comparable period of last year, more...    The Board of Directors of World Call Telecom decided to accept the offer received from major sponsors of more...    The GoP approved Petroleum Policy 2007, in which the price of gas has been linked to the price of more...    The GoP allowed local petroleum companies to outsource up to 70% of technical services to foreign firms for becoming more...    The SECP announced that it will initiate an inquiry into Monday’s market manipulation in the shape of rumors about more...    The GoP is planning to sell 20% stake of the NBP through GDRs by mid-December worth US$644m at current more...    Pakistan and Russia are working towards facilitating banks of either country to establish their branches in both territories more...    According to Trade Development Authority of Pakistan, the export of textile and garments products was US$2.8bn in 1Q/FY08 declining more...    SSGC’s net profit declined by 20.7% to PRs286m (EPS: PRs0.43) in 1Q/FY08 from PRs361m (EPS: PRs0.54) in the more...    The Prime Minister rejected the proposal for passing on the increase in the world oil prices to local consumers more...    The growth rate of money supply declined marginally to 1.68% in July-October which increased by 2.02% during the same more...    Hub Power Company Limited posted a 15% drop in its earnings for 1Q/FY08 to PRs607m (EPS: PRs0.52) as against more...    International oil prices jumped to a record over US$94/barrel after a steep decline drip in US inventories fuelled winter more...    National Commodity Exchange Limited announced introduction of “Spread Trading Facility” in its gold future contract starting December 01, 2007 more...    PPL’s net profit rose by 26.4% to PRs4.8bn (EPS: PRs6.37) in 1Q/FY08 as against PRs3.8bn (EPS: PRs5.04) in the more...    UBL posted only 3% growth in 9M/CY07 net earnings to PRs7.1bn (EPS: PRs8.75) as against PRs6.9bn (EPS: PRs8.53) in more...    PTCL’s net profit stood at PRs3.0bn (EPS: PRs0.59) in 1Q/FY08 compared to PRs5.2bn (EPS: PRs1.01) in the same period more...    Bank Alfalah’s net profit stood at PRs3.0bn (EPS: PRs4.63) in 9M/CY07 as compared to PRs1.3bn (EPS: PRs2.06) in the more...    PSO’s profitability jumped by 271% to PRs2.1bn (EPS: PRs12.26) in 1Q/FY08 from PRs567m (EPS: PRs3.3) in 1Q/FY07 and declared more...    DGKC’s net profit declined by 45% to PRs267m (EPS: PRs1.06) in 1Q/FY08 as against PRs484m (EPS: PRs1.91) in the more...    Bank of Punjab’s earnings grew by 34% to PRs4.1bn (EPS: PRs9.60) in 9M/CY07 as compared to PRs3.0bn (EPS: PRs7.12) more...    The petroleum ministry is planning to pass on the benefits of increase in the international oil prices to the more...    The country’s import bill of petroleum crude increased by 5.3% during 1Q/FY08 to US$1.1bn as compared to US$967m in more...    Services sector trade deficit rose to 1.5 billion dollars during the first quarter of the current fiscal year against more...    The MCB Bank profit before tax for the nine months period ended on September 30, 2007 has recorded 25 more...    Oil & Gas Development Company Limited’s (OGDCL) earnings for the first quarter of FY08 remained flat at PRs12.3bn (EPS: more...    The cement exports to India is only 6% of the total exports of the country and is very low more...    The Pakistan Telecommunication Authority has revealed that PTCL is losing fixed line market to other operators with its subscribers more...    The Privatization Commission has received seven Expressions of Interest (EOIs) from interested parties for acquisition or joint venture in more...    Earnings of ICI Pakistan for the nine months period ended September 2007 rose by 19.2% to PRs1,178m (EPS: PRs8.49) more...    According to the figures complied by Pakistan Telecommunication Authority the total mobile phone users have reached 72.9m by the more...    Allied Bank’s earnings grew by 22.7% to PRs4.2bn (EPS: PRs7.70) in 9M/CY07 as compared to PRs3.4bn (EPS: PRs6.27) in more...    Indus Motors net earnings stood at PRs921m (EPS: PRs11.71) in 1Q/FY08 as against PRs629m (EPS: PRs8.01) in 1Q/FY07, an more...    The GoP has raised the subsidy on diesel to PRs11.53 per litre from PRs7.33 per litre amid rising oil more...    The Executive Committee of the National Economic Council (ECNEC) approved 23 projects worth PRs116.5bn including 14 new projects costing more...    Remittances from overseas Pakistanis during 1Q/FY08 amounted to US$1.5bn as against US$1.2bn in 1Q/FY07, an increase of 22% more...    TRG Pakistan announced at the KSE that The Resource Group International had sold substantially all the assets of its more...    The Special Convertible Rupees Accounts (SCRAs) stood at US$176m on October 19, 2007 after the inflow of US$18m during more...    The Federal Board of Revenue has given sales tax zero-rating facility on consumption of natural gas and electricity to more...    Dutch bank ABN AMRO has received offers for its 40% stake in Saudi Hollandi Bank. The stake could be more...    The Cabinet Committee on Privatisation (CCoP) is scheduled to meet here on Thursday to take up Karachi Electric Supply more...    Habib Bank Limited (HBL) has reported a consolidated after-tax profit at Rs10.166 billion on Wednesday for the nine months more...    The agreement on gas pipeline between Iran, Pakistan and India is likely to be finalized on October 19, 2007 more...    The cement sector has attracted US$41.4m foreign investment in July-August this year, depicting a surge of 780% over US$4.7m more...    The banking sector review report indicates that the total loans of the banking system increased by PRs132bn to PRs2.5tn more...    The GoP approved the construction of the Coastal Refinery Project costing US$5.0bn at Khalifa Point in Hub area more...    Consumer Price Index (CPI) rose by 8.4% in September 2007 as against 8.7% in September 2006 taking the average more...    The SECP and the KSE have agreed on the final draft of the “Stock Exchange (corporatisation, demutualization and integration) more...    The President of NIB Bank has announced the new leadership team of the proposed Bank to be formed by more...    Shell has started offshore drilling in Anne-1 well of Indus Block this week more...    Pakistan Oil Fields is focusing on new exploratory blocks as it has acquired 30% working interest in Margala and more...    Pakistan and Asian Development Bank signed an agreement for a US$510m multi tranche loan for the development of renewable more...    Pakistan Suzuki Motor co. informed that High Court of Sindh has sanctioned the Merger of Suzuki Motorcycles more...    Engro Chemicals has signed a rupee syndicate loan of PRs18.3bn and an Islamic US Dollar facility of US$150m marking more...    Flying Cement has been cleared by Bureau of Indian Standards and the company is finalizing orders for the export more...    The government has directed Oil and Gas Regulatory Authority to maintain the current LPG price despite the fact the more...    Special Convertible Rupees Accounts stood at US$26.0m on October 02, 2007 after an inflow of US$10.3m more...    The Privatization Commission intends to complete GDRs of NBP and PPL by the end of current calendar year and more...    The SBP announced that the approved banks/DFIs have been allowed to avail refinancing facilities under the terms as applicable more...    Iran has been invited to set up an oil refinery in Pakistan and supply furnace oil more...    The managing director of OGDC has said that the company will soon undertake offshore oil and gas exploration in more...    The SECP has shown willingness to explicitly exclude banking and money market services from the proposed Financial Services Commission more...    Iran will sign a multi-billion dollar gas pipeline deal with Pakistan in the absence of India by the end more...    The PPIB signed an Implementation Agreement with a subsidiary of UAE’s Al-Ghurair Group for setting up of a 134MW more...    The Prime Minister approved the creation of investment division by restructuring the Board of Investment to achieve US$10-15bn in more...    Foreign Exchange Reserves rose by US$13m to US$16.1bn in the week ending September 22 more...    A Kuwaiti based company, Am Power Company, intends to build 225MW combined cycle power project located at the Sundar more...    The banks have expressed strong reservation on the proposed Financial Services Act as it could have negative effects on more...    The GoP granted three petroleum exploration licenses to Petroleum Exploration Limited for making an investment of US$20.7m in oil more...    The monetary assets grew by 19.32% as against the target of 13.46% set for FY07 by the SBP mainly more...    SNGP’s profit after tax declined by 28% to PRs2.67bn (EPS: PRs4.88) in FY07 as against the net earnings of more...    The Privatization Commission has set NBP, HBL, PPL and KAPCO in the priority Privatization Program for international listing through more...    An agreement has been reached between the GoP and provincial governments to allow 15-20% shareholding of PPL to Baluchistan more...    The Dewan group will hold its meeting on September 28 to determine the allotment of fresh shares of the more...    The price of DAP fertilizer bag has dropped by PRs75 to PRs1,250 just before the Rabi season more...    Total foreign investment stood at US$314m during July-August 2007, a decline of 16.1% from US$374m in the corresponding period more...    The Karachi Stock Exchange has approved the application for formal listing Habib Bank Limited (HBL) and trading will start more...    Pakistan will be dropped from “developed” status of FTSE global indexes by June 2008 on the grounds that it more...    Central Directorate of National Savings is likely to convert into an autonomous organization with name of “Pakistan Savings”. The more...    Textile exports rose by 1.2% in July-August 2007 to US$1.9bn, however, they declined by 5.3% in August 2007 to more...    DGKC’s net profit declined by 32.8% to PRs1.6bn (EPS: PRs6.43) in FY07 as compared to PRs2.4bn (EPS: PRs9.54) in more...    Three Chinese companies – SPA, Great Wall and BGP are reluctant to sign new contracts with multinational, national and more...    PTCL announced 15% salary increase across the board for all regular PTCL employees effective from the next month and more...    Standard Chartered Plc said that it is buying American Express Bank for about US$860m to help “turbo charge” the more...    Federal Reserve cut its base federal funds rate and discount rate by 50bps to 4.75% and 5.25% respectivel more...    The country received US$985m as workers’ remittances in Jul-Aug 2007 a growth of 21.4% over US$812m received in the more...    Etisalat plans to cut staff at PTCL after the company reported a 25% drop in annual profits. At present more...    The Asian Development Bank has revised its GDP growth forecast for Pakistan down from 7.2% to 6.5% for FY08. more...    JS Bank Limited declared 50% rights issue in order to meet the minimum paid up capital requirement of more...    
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