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FX reserves edge down to $16.07bn KARACHI: Pakistan's foreign exchange reserves eased to $16.07 billion in the week ending on September 3, from $16.12 billion a week earlier, the State Bank of Pakistan (SBP) on Thursday.
Reserves held by the State Bank fell to $12.35 billion from $12.37 billion, while those held by commercial banks fell to $3.72 billion from $3.75 billion, the SBP said in a statement. The IMF said last week it would give Pakistan $450 million in emergency flood aid and disburse funds in September, but the status of the release of the sixth tranche of an $11 billion bailout loan is unclear. It has been delayed until at least November. -Reuters ... |
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Aug remittances at record $933mn ISLAMABAD: A historic amount of $933.06 million was remitted by overseas Pakistani workers in August 2010 beating the previous of record of $841.44 million received in June, 2010.
According to the data, during the first two months (July-August) of the current fiscal year remittances worth $1.724 billion were sent home by Pakistani workers, showing an increase of $198.86 million or 13 per cent compared with $1.525 billion in the same period last year. ... |
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Meeting with French FM Sheikh seeks greater EU mkts access ISLAMABAD: Federal Minister for Finance, Dr Abdul Hafiz Shaikh who is currently on a two-day visit to France raised the issue of greater access to the European markets for Pakistani products, during a meeting with French Foreign Minister Bernard Kouchner. ... |
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Railways fares rise up to 5-15pc LAHORE: Government of Pakistan approved to increase the fares of passenger and freight trains by 5 to 15 per cent to steer the Railways clear of the present crisis situation, media reported Thursday. GM Operations, Muhammed Ashfaque Khattak said the fares were to cut down on the financial straits faced by Pakistan Railways. Khattak said Railways had no money to buy diesel to run the trains service, as also the recent flash floods across the country have caused billions of rupees worth of loss to the Railways. ... |
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Flood-pushed food prices up Aug CPI Inflation in August at 13.23pc YoY
Staff Reporter
KARACHI: Country's inflation rose to a four-month high in August as the devastating floods forced food prices to go higher, data showed Thursday. ... |
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Blast within B’stan finmin house, kills 3 QUETTA: At least three people were killed and six others were wounded when a car bomb exploded inside the residence of Balochistan's provincial finance minister Asim Ali Kurd on Thursday, media reported.
The explosion occurred near Quetta’s Railway Housing Society area and two of the minister's security guards were killed ... |
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2M trade gap widens 20pc Deficit reaches $2.68bn; drops by 15pc in Aug MoM
Ahmed Siddique
KARACHI: Pakistan's trade deficit during July-August period of current fiscal year 2010-11, hiked by 20.18 per cent to $2.68 billion against $2.23 billion in the same month last year, according to the official data released by the Federal Bureau of Statistics here Thursday. ... |
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New SBP chief has tough days ahead Kardar appointed as Governor SBP
KARACHI: President of Pakistan Thursday appointed Shahid Hafiz Kardar as new Governor State Bank of Pakistan for a period of three years.
Kardar takes charge at a time when massive damage from flooding has strained the already fragile economy. ... |
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Nato tankers ambushed in Quetta QUETTA: One person sustained injury as unidentified armed persons attacked on Nato oil supplying tanker in Soraab, Quetta. The informed sources said that on Thursday unknown persons opened unprovoked firing on Nato tanker providing oil in an area of Soraab, Quetta. As a result, one person received injuries. ... |
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