Institutional buyers account for half of KSE’s market capitalisation
The shares of institutions including banks and foreign funds at the Karachi Stock Exchange (KSE) have increased to 50 percent, said an official.“The number of such institutions is around 25,” he said. more... (TN)
Pakistan repays $391.8m to IMF under SBA
Pakistan on Tuesday paid an instalment of $391.8 million to the International Monetary Fund (IMF) under the Stand-by Arrangement (SBA) loan facility of a total of $7.80 billion it availed in March 2008. more... (DT)
PSO gets Rs 15 billion for furnace oil imports
The Ministry of Finance has released Rs 15 billion to Pakistan State Oil (PSO), enabling it to continue importing furnace oil by clearing Letters of Credit (L/Cs) payments to international fuel suppliers. According to Petroleum Ministry sources, Finance Minister Salim Mandviwalla had assured PSO that there would be no delay in the release of funds. more... (BR)
IP gas line project: Zardari heads to Iran to seal deal today
Despite mounting US pressure, Presi-dent Asif Ali Zardari is leaving on Wed-nesday for Iran to seal a $1.5 billion gas pipeline deal, it is learnt. The President would meet his counterpart Mahmoud Ahmadinejad on February 27 and sign the agreement of multibillion dollar Pak-Iran gas pipeline project. more... (BR)
PIA gets Rs 49 billion ‘bailout’ package
The Economic Coordination Committee (ECC) of the cabinet on Tuesday approved a Rs 49 billion interim bailout package for the Pakistan International Airlines (PIA).
Early completion of 1,000MW wind power projects urged
Federal Minister for Water and Power Ahmed Mukhtar has directed to expedite completion of 1,000 megawatts (MW) wind power generation projects so that cheaper electricity could be added in the national grid at the earliest.