July-January 2012-13: trade deficit gap narrows by 12.05 percent
Pakistan trade deficit gap has narrowed by 12.05 percent in July-January 2012-13 as compared to the corresponding period of last year, according to provisional trade figures released by Pakistan Bureau of Statistics (PBS) on Wednesday. The PBS provisional trade figure showed that the trade deficit has declined to $11.617 billion in July-January 2012-13 as compared to $13.209 billion last year after a 7.24 percent increase in exports and 2.44 percent decrease in imports. more... (BR)
PSO may discontinue POL products supply
The Pakistan State Oil (PSO) is likely to discontinue supplies of petroleum products from importers if a private bank does not open its Rs 7.5 billion Letter of Credit (LCs) on the concerns of financial crisis of oil marketing company.
Pakistan a friendly state for foreign investors: PM
Prime Minister Raja Pervez Ashraf has said that Pakistan has a friendly climate and conducive environment for foreign investment and business ventures in assorted sectors of the economy.The prime minister urged investors, businessmen and representatives of international business organisations, to invest in public-private business ventures.
Govt borrowing maintains upward trend
Government borrowing from scheduled banks continued upward trend in the first seven months of the current fiscal year, as it experienced a sharp increase of Rs186 billion, or around 29 percent, over the same period last year. more... (TN)
E-banking transactions total Rs7.6trn
The value and volume of overall e-banking transactions increased by 18.02 percent and 11.31 percent to Rs7.6 trillion and 79.45 million respectively during the second quarter of the current fiscal year (FY13), reported the State Bank of Pakistan’s Payment Systems Review released on Wednesday. more... (TN)
Stopping Gekko: SECP strengthens rules against insider trading
Insider trading in Pakistan may become a little more difficult, after the Securities and Exchanges Commission of Pakistan announced new rules that legally mandate a greater level of disclosure from publicly listed companies, strengthening the hand of prosecutors to go after capital markets fraud. more... (ET)