Circular debt swells to Rs 537 billion
According to an official report of the Planning Commission, the stock of power sector debt was Rs 144.99 billion in 2008, which increased to Rs 161 billion in 2009, Rs 235 billion in 2010, Rs 365 billion in 2011 and Rs 537 billion in 2012. more... (BR)
Imported urea: government to pay Rs 14,500 per ton subsidy
The federal government will pay approximately Rs 14,500 per ton subsidy on imported urea to match the domestic price, as it has already decided to supply urea at lower price to facilitate farmers. more...(BR)
Line losses seen hurdle in economic uplift
President Pakistan Economy Watch (PEW) Dr Murtaza Mughal said Sunday that electric power transmission and distribution losses are increasing with an amazing speed compromising economic growth.In a statement issued from his office he said that Pakistan is among top ten countries in the electric transmission and distribution (T&D) losses which has become a major threat, it said. more... (TFD)
Rs10bn released to reduce power cuts
The government has released ten billion rupees to facilitate and support the power generation companies to reduce load-shedding.This was announced by Advisor to the Prime Minister on Finance Dr. Shahid Amjad Chaudhry at a joint press conference along with Minister for Water and Power Dr. Musadik Malik and Minister for Petroleum and Natural Resources Sohail Wajahat H. Siddiqui in Islamabad. more... (DT)
SAARC finance ministers to meet in New Delhi on May 3
An important meeting of finance ministers of 8 members countries of members of South Asian Association for Regional Cooperation (SAARC) is scheduled to be held at New Delhi India on May 3.The caretaker finance minster of Pakistan will represent the country in the meeting.
Cement sales may dip after March surge
Following a surge in demand in March, cement sales in the country are expected to remain subdued this month, according to provisional data for first 22 days of April.Cement sales in the domestic market registered a 9% decline to reach 2.32 million tons in April compared to March.