Pakistan to receive $700 million from US: Hafeez
Finance Minister Dr Abdul Hafeez Sheikh said Pakistan will receive $700 million from the Coalition Support Fund (CSF) of the United States.Sheikh added that Pakistan will also be paying two installments to the IMF in early January.
Fertiliser industry : Despite $2.3bn investment, govt fails to honour gas supply contract
Fertiliser manufacturers have invested $2.3 billion in the country based on the government approved policy designed to encourage investment in the sector but authorities did not honour gas supply contracts with the industry. more... (DT)
First 70,000MT oil tanker berths at Byco’s SPM
Byco Petroleum has achieved yet another historic milestone by bringing the first-ever oil tanker of 70,000 metric tonnes to its newly established deep sea Single Point Mooring (SPM) facility constructed by Byco Terminal Pakistan Ltd, a Byco Group’s company. more... (DT)
Another rate cut in the offing: CPI to stay around 7.5% this month
Consumer price index (CPI) will slightly go up to 7.48 percent year on year (YoY) in December compared to 6.93 percent recorded in November 2012.With the December 2012 inflation remaining in single digit, the average inflation of first half 2012-13 would further be lower at 8.25 percent.
Bonds for funding Iran pipeline proposed
The banking sector of the country was not capable of financing the Iran-Pakistan gas pipeline but the State Bank could raise funds for the project by launching bonds, Adnan Adil Hussain, senior vice-president for consumer and retail banking at the National Bank, said on Tuesday. more... (D)
Mobile banking accounts hit 1.8m mark
Mobile banking accounts have jumped to 1.8 million, recording an impressive growth of 25% in the July-September quarter of 2012, according to the Branchless Banking Newsletter released by the State Bank of Pakistan (SBP) on Wednesday. more... (ET)