Rising double differential: Inflation bounces back up, but still in single digits
The rate of inflation in Pakistan rose in the month of December 2012, though it remained within single digits as the benchmark consumer price index clocked in an increase of 7.9% compared to the same period the previous year, according to data released on Tuesday by the Pakistan Bureau of Statistics. more... (ET)
Rs 101.4bn released under PSDP 2012-13 so far
Planning Commission of Pakistan has so far released Rs 101.4 billion under its Public Sector Development Programme (PSDP) against the total allocation of Rs 233 billion for the fiscal year 2012-13. more... (DT)
SBP cuts refinance rate, service charges
The State Bank of Pakistan (SBP) has reduced the refinance rate and service charges on its various financing schemes with the exception of financing for over five years and up to 10 years.
In a circular issued on Tuesday, the SBP said the rate of refinance under the Export Finance Scheme (EFS) has been reduced by 0.2% to 8.30% per annum. Exporters will now get financing from banks at 9.30%.
Single point mooring: Byco to accommodate large vessels
Byco’s single point mooring (SPM), Pakistan’s first such facility which has been set up on the coast of the Arabian Sea some 14km from the company’s Mouza Kund site, has been commissioned.According to a press release, this facility, with a draft of 25 metres, can accommodate larger size vessels carrying over 100,000 tons of crude and petroleum products.
Govt revises down NSS rates
The government has revised down the interest rates on the National Savings Schemes (NSS) on investments with effect from January 1, 2013, according to a statement.According to the announcement made by the Central Directorate of National Savings (CDNS), in response to considerable slash in the discount rate by the State Bank of Pakistan (SBP), the government has revised down the profit rates on National Savings Schemes for the investment made on or after January 1, 2013.
NBP signs Home Remittances Agreement with Placid Express-Malaysia for Launch of NBP Foree Cash and NBP Foree Transfer services
In line with its objective to facilitate overseas Pakistanis across the globe, NBP has launched its Home Remittances Services in collaboration with Placid Express from Malaysia. more... (TN)