Raising finance: Tameer Microfinance taps capital market
Tameer Microfinance Bank Limited (TMBL) President Nadeem Hussain marked the formal listing of TMBL’s two term finance certificates (TFCs) on Monday by hitting the gong on the Karachi Stock Exchange (KSE) at the beginning of the trading session. more... (ET)
In business: Initial run of Byco’s new refinery
Byco’s newly-completed oil refinery successfully completed its initial run of about 48 hours and was able to produce on-spec high sulphur fuel oil (HSFO), high speed diesel (HSD) and naphtha. This initial run was conducted during the course of pre-commissioning and commissioning activities, said a press release. more... (ET)
Trade deficit narrows by 14%
In a positive development, the country’s trade deficit decreased by 14 percent during the first half of the current fiscal year as exports expanded by 7.58 percent and imports witnessed negative growth of 3.33 percent.
Total annual allocation of Rs 360 billion
The federal government has released Rs 105.7 billion by January 4, 2013 against the total annual allocation of Rs 360 billion under the Public Sector Development Programme (PSDP) of 2012-13.
Containing public debt: Finance Division proposes changes in FRDLA
The Finance Division has proposed necessary changes in the Fiscal Responsibility and Debt Limitation Act, 2005 for restrictions on primary deficit and revenue deficit to contain the mounting public debt, it is learnt. Sources said there is no provision of primary balance in the FRDLA, 2005, which means primary deficit, revenue minus non-interest expenditure, has been widening. more... (BR)
Public debt swells to Rs 12.7 trillion by fiscal year 2012-end
The country's total public debt swelled to Rs 12.7 trillion by the end of the fiscal year 2011-12 of which Rs 7.6 trillion is domestic, whereas Rs 5 trillion external debt. more... (BR)