Posted on May 31, 2009
SINGAPORE: Pakistan State Oil (PSO) is seeking up to 60,000 tonnes of gasoline for June-July delivery, a tender document showed on Monday, the latest of tenders over recent months which traders said were to plug a production gap. PSO, which is not a regular gasoline importer, is looking to buy 30,000 tonnes [...]
Posted on May 31, 2009
ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) notified on Sunday that on the advice of the Federal Government the maximum ex-depot sale prices, effective June 01, 2009 of the four products would remain unchanged. These products include Motor Spirit Rs. 56.21, HOBC Rs. 70.28, Kerosene Oil Rs. 51.87 and Light [...]
Posted on May 31, 2009
KARACHI: Governor of State Bank of Pakistan (SBP), Syed Salim Raza, has said that Pakistan’’s banking system has great potential for further investment. He was speaking at a ceremony held here for the launching of Silkbank Limited, formerly Saudi Pak Commercial Bank Limited, says a SBP statement. Raza said the performance [...]
Posted on May 31, 2009
KARACHI: Finance Advisor, Shaukat Tarin has said that a decision for putting an end to the subsidy on petrol, gas and electricity has been taken. Addressing a seminar on “IMF role in Pakistan economy” under the aegis of Institute of Business Administration (IBA), the finance advisor said that the government was [...]
Posted on May 31, 2009
MIRPURKHAS: Cotton cultivation like other parts of the country is being badly hit by the acute shortage of irrigation water, while cultivators continued agitating against the dearth of water. Most of the districts in the province including Mirpurkhas, Jhaddu, Naukot and Digri are facing water famine, while the standing crops at [...]
Posted on May 30, 2009
KARACHI: Bulls remained dominant at Karachi Stock Exchange this week as the benchmark KSE-100 Index surged beyond 7,200 points. Investment by foreign investors in energy and cement stocks supported the major Index. The KSE-100 Index saw a gain of 131 points during this week.
Posted on May 30, 2009
GADANI: The suspension of oxygen gas supply by the DOC Company has severely hit the ship breaking industry here, throwing thousands of workers out of employment, while as many as 78 scrap ships worth billions of rupees are waiting at the docks for necessary dismantling. Additional collector customs, Ali Sher told Geo News that about [...]
Posted on May 30, 2009
MANILA: The Asian Development Bank Saturday called on its Asian government borrowers to design mass transport systems in a way that would slow the rapid growth of their greenhouse gas emissions. While developed countries still account for the largest share, transport sector emissions from developing countries, particularly in Asia, were growing rapidly, the Manila-based lender [...]
Posted on May 30, 2009
KARACHI: The signing of the agreement between Pakistan and Iran for the import of natural gas is a watershed event for securing and sustaining Pakistan’s energy future, the LPG Association of Pakistan (LPGAP) said. “The current natural gas deficit of about 800MMscfd is impeding economic and industrial growth, and hampering long-term planning,” LPGAP spokesman, Fasih [...]
Posted on May 30, 2009
KARACHI: Meezan Bank and Asian Development Bank (ADB) signed an agreement in order to facilitate the opening of Letters of Credits. According to a press release Friday, under the agreement, the ADB will indirectly confirm Meezan Bank’s letters of credit. ADB will effectively act as a guarantor for import L/Cs established by Pakistani businessmen and [...]
