Stock Exchange Pakistan » Pakistan

National Saving Certificates profits curtailed

admin — Wed, 01 Jul 2009 14:06:23 +0000

ISLAMABAD: The profit rates on National Saving Certificates have been brought down 1.9 from 0.5 percent. According to Central Directorate of National Saving, the profit rate on Special Saving Certificate is 11.62 percent; the profit rate on Revenue Income Certificate made 12 percent. The profit rate on Pension and Behbood Certificate went down to 14.16 from 16.10 percent. The profit rate on Saving Certificate was brought down to 8.5 to 9 percent. The profit rate on Defence Saving Certificate was not cut down.

WB approves $135 mln loan for Pakistan

admin — Fri, 19 Jun 2009 22:16:59 +0000

WASHINGTON: The World Bank (WB) has given approval, allowing for Pakistan the aid of dollar 135 million as loan to be spent on two separate projects including the anti-polio drive and social welfare programs, Geo news reported early on Friday. This was stated in a statement released from WB here.

Pak-Iran gas pipeline project formally signed

admin — Sat, 06 Jun 2009 03:56:41 +0000

ANKARA: The gas pipeline project between neighboring Pakistan and Iran has been formally signed here late on Friday, Geo news reported. The agreement was signed between Iranian National Oil Company (INOC) and Pakistani Interstate Gas Company (PIGC). The Managing Director (MD) of PIGC Hassan Nawab told Geo news the agreement is governed through third country law so it was bound to be signed in a third country and has been signed here in Turkey. He said the work on the project has commenced from today (Friday) and will be completed by 2013 whereby Pakistan will receive 750 cubic million gas on daily basis which will be enough for generation of 4000 megawatt electricity. “The gas pipeline will begin from Gawadar near Iranian border having 800 kilometer length”, he maintained adding, “The determination of gas price will be linked with contemporary oil prices at international market but will be less than 25 per cent as compared to crude oil prices”. The estimated cost of the project will be US $1.2 billion, he added.

KSE enlisted in Dow Jones regional Index

admin — Wed, 03 Jun 2009 23:58:33 +0000

KARACHI: Karachi Stock Exchange (KSE) has been enlisted in the Regional Index of Dow Jones under the category of Euro Asian Region. A KSE statement said, ten to 12 member countries’ exchanges have been included in this Index series. Stock exchanges of UAE, Oman, Bahrain, Muscat and Turkey are among these.

Pak-Iran gas agreement within weeks: Dr Asim

admin — Mon, 18 May 2009 23:24:41 +0000

KARACHI: Advisor to Prime Minister on Petroleum Dr Asim Hussain has said that Pakistan and Iran will sign the agreement for the supply of gas under Iran Pakistan Gas Pipeline by the end of this month or next month. He was speaking at the inauguration of 7th Pakistan Oil, Gas and Energy Exhibition (POGEE) and conference, 5th Fire Security Pakistan exhibition at Karachi Expo Centre Monday. He said that Iran has nearly built the site for the supply of gas at Pak-Iran border. Currently we are working on the details of the project. For example, in which country we will go for the arbitration in case of dispute, he added. Dr Asim said that the efforts to get natural gas under Turkmenistan Afghanistan Pakistan gas pipeline were also in progress. At the same time, the government was exploring possibilities for utilizing Thar coal reserves for gasification and power generation, he opined. Responding to the demand from speakers at the exhibition about the power shortage, he said that government was exploring every possible way to raise power generation. However, he urged the masses to remain patient because it will take some time to enhance power generation in the country. The gap between the demand and supply of power will be overcome in next two to three years, he noted. The Advisor said that Pakistan was depending on imported fuel to met domestic requirements for energy. We are producing 3.9 billion cubic feet of gas per day against the demand for 9 billion cubic feet per day while the crude oil production was 70,000 barrel per day against the demand of 370,000 barrel per day, he added. He said that the new petroleum policy has generated an overwhelming response as large number of foreign exploration and production companies including British Petroleum, ENI, have shown interest in Pakistan. Dr Asim said that Pakistan will hold road shows to attract investment in the oil and gas sector in London (UK), Houston (USA) and Calgary (Canada) in July this year. He said the government has preparing hydrocarbon vision for next 20 years to give a road map for oil and gas exploration and make the country self sufficient in energy requirements. Earlier, chairman Pegasus Consultancy Asim Siddiqui said that 335 companies from 31 countries were participating in POGEE exhibition and conference and Fire Security Conference. He pointed out that China and Iran have separate pavilions. President, Fire Protection Association, Farhat Husain, chairman Pakistan Petroleum Dealers Association Abdus Sami Khan and President SAP Asim Haq also spoke on the occasion. Later, the chief guest visited various stalls at the exhibition.

کمرشل بینکوں کو متاثرہ علاقے میں بے گھر لوگوں کو بینکاری کی سہولیات فراہم کرنے کی ہدایت

azhar — Sat, 16 May 2009 08:34:45 +0000

کراچی ۔۔۔۔ اسٹیٹ بینک نےکمرشل بینکوں کو سوات اوردیگر متاثرہ علاقوں سے بے گھر ہونےوالے افراد کے لئے بینکاری کی بنیادی سہولتیں فراہم کرنے کی ہدایت کردی۔ اسٹیٹ بینک نے تمام کمرشل بینکوں کو ہدایت جاری کی ہے کہ وہ سوات اوردیگر ملحقہ اضلاع کی موجودہ صورت حال کے نتیجے میں بے گھر ہونے والے افراد کو بینکاری کی بنیادی سہولتیں فراہم کریں۔ اسٹيٹ بينک کے مطابق سوات اور دیگر ملحقہ اضلاع سے بے گھر ہونے والے افراد کی اُن کے بینک اکاوٴنٹس تک رسائی کویقینی بنایا جائے۔اسٹيٹ بينک نے تمام بينکوں کو ہدايت کي ہے کہ وہ افراد جن کے پاس اپنی چیک بکس يااے ٹی ایم کارڈز وغیرہ نہيں ہيں انکے ليے بھي نقد رقوم نکلوانے سمیت بینکاری کی بنیادی سہولتوں کی فراہمی کے لئے فوری طور پر انتظامات کئے جائیں۔ کمرشل بینکوں کو یہ ہدایت بھی کی گئی ہے کہ وہ بے گھر ہونے والے افراد کو بینکاری کی سہولتوں کی فراہمی کے لئے کئے جانے والے انتظامات سے متعلق بینرز/پوسٹرز امدادی کیمپوں میں آویزاں کریں۔

India-Afghanistan trade likely via Wagah Border

admin — Fri, 08 May 2009 10:28:10 +0000

WASHINGTON: Pakistan and Afghanistan have signed a “milestone” MoU committing themselves to reaching a transit trade agreement by the end of the year, a step that could ultimately allow India to use the Wagah-Khyber route for trade with Kabul. Pakistani Foreign Minister Shah Mehmood Qureshi and his Afghan counterpart Rangeen Dadfar Spanta signed the MoU at US State Department yesterday, with Secretary of State Hillary Clinton terming it an “historic event”. “This agreement has been under discussion for 43 years without resolution,” she said. The two nations have reached an “important milestone” in their efforts to generate foreign investment and stronger economic growth and trade opportunities, Clinton said adding, with the MoU, they have committed to “achieving a trade transit agreement by the end of the year,” which she believed will have “great economic benefits for both peoples”. Although India is not mentioned in the MoU, Pakistani daily Dawn today reported that it will be the “main beneficiary” of a transit trade agreement between Pakistan and Afghanistan as Kabul”s major trade partner. Both India and Afghanistan have long insisted that Pakistan open its land route for transit trade between the two countries which do not have a common border, the report said.