SC for imposing energy emergency in the country
The Supreme Court on Wednesday observed that there was a need to impose energy emergency in the country to fulfill the electricity demands of people. more... (BR)
425 megawatts Nandipur Hydropower Project: ECC likely to clear financial impediments today
The reconstituted Economic Co-ordination Committee (ECC) of the Cabinet in its first meeting on Thursday (today) will clear all financial impediments to 425MW Nandipur Hydropower Project, with a completion date of a year and a half - a project that the PML (N) had accused the previous government of deliberately stalling.more... (BR)
Rs 13 billion less than budgeted amount: government likely to receive $850 million from ADB in fiscal year 2014
Rupees 98 billion are budgeted for fiscal year 2013-14 as assistance from Asian Development Bank (ADB), however informed sources revealed that the government is likely to receive $850 million (around Rs 85 billion) next fiscal year. The budget also indicates that the entire ADB support would be for project support and there would be no programme/budgetary support extended by the bank. more...(BR)
New powers ‘severe violation’ of Bank law
Top economists and bankers have termed the government’s controversial proposal allowing the Federal Board of Revenue (FBR) access to transactions of bank account holders a “severe violation” of the banking secrecy law. more...(N)
Contracting margins: Banking spreads to shrink in first half of fiscal 2014
The overall spread of the banking sector is likely to shrink to an average of 6% during the first half of fiscal 2014, according to banking sector analysts.
Access to finance: USAID launches private equity fund for Pakistan
USAID in association with the Abraaj Group and JS Private Equity Management (JSPE) announced the creation of the ‘Pakistan Private Investment Initiative’ which will launch two new private equity funds focused solely on Pakistan’s dynamic and fast-growing small- and medium-sized businesses.
Govt releases Rs 203bn from developmental budget 2012-13
The federal government has released Rs 203 billion by June 21, 2013 against the total annual allocation of Rs 360 billion under the Public Sector Development Programme (PSDP) of 2012-13.