POL imports go up to $7.7bn in first half of FY13
Pakistan’s economy spent $7.7 billion on imports of petroleum and its products during the first half of the current fiscal year, depicting 1.15 percent increase over $7.61 billion in the corresponding period last fiscal, said the Pakistan Bureau of Statistics (PBS) on Tuesday. more... (TN)
Govt borrowing from banks surges to Rs770 billion
The State Bank of Pakistan (SBP) on Tuesday reported that public sector borrowing from commercial banks between July 2012 and January 2013 rose to Rs770 billion from Rs627 billion a year ago, as spending grew faster than income in a struggling economy, resulting in higher-than-expected budget deficit. more... (TN)
‘Banks not passing on benefit of policy rate cut to borrowers’
The single digit policy rate could not enhance the private sector credit, as it registered a decline of about 62 percent despite a decline in interest rate by 4.5 percent during the period of one-and-a-half-year.
Import bill sees modest decline of 3.3% in 1H FY13
Pakistan’s import bill of different goods and commodities has seen a decline of 3.3 percent in the first half of current financial year (1H FY13) due to decrease of expense under the head of food items, textile group, agriculture and chemicals, machinery and transport sectors.
KPT initiates Pakistan Deep Water Container project
Karachi Port Trust (KPT) has initiated a high-potential Pakistan Deep Water Container project to manage the overall port traffic and cargo handling expected to double in the next ten years. more... (DT)
Textile exports grow over 8 percent in first half fiscal year 2013
According to the latest figures, Pakistan has exported textile goods worth of 6.46 billion dollars during July-December 2012 against the 5.95 billion dollars during the same period of last year, thus registering an increase of 8.55 percent. more... (BR)