Turkish bank to provide $300 million credit facility
Export Credit Bank of Turkey (Exim Bank) is to give $300 million credit facility to Pakistan for 2013-14 for which a formal pact will be signed during the 3-day (September 16-18) official visit of Prime Minister Nawaz Sharif to Turkey, well-informed sources told Business Recorder. more... (BR)
Raising finance: Sino-Sindh Resources gets investment to develop Thar
Sino-Sindh Resources (SSRL) executed a subscription and cooperation agreement with a consortium of investors consisting of Global Mining (China) Limited (GMC) and Asiapak Investments (Asiapak). more... (ET)
Latif Gas Field to add 40mmcfd gas by September 10
There will be an addition of about 40 Million Cubic Feet per Day (mmcfd) gas by September 10 from Latif Gas Field in District Khairpur Sindh, it is learnt. more... (BR)
Fresh banking spreads shrink by 70 bps in August 2013
Fresh banking spreads in August have followed a similar trend to weighted average (WA) spreads as it reduced by 70 basis points (bps) on monthly basis to 4.75 percent after it had improved by 97 bps to 5.45 percent in the previous month on the back of higher cost of deposits, according to latest State Bank of Pakistan’s (SBP) data on Wednesday.
Impact of flooding : Urea offtake drops by 20 percent in July
Urea offtake in Pakistan witnessed 20 percent monthly decline to 466,000 tonnes during July as against 567,000 tonnes in the previous month of this year due to flooding in major agricultural regions of the country, revealed National Fertiliser Development Corporation’s (NFDC) data.
17.4–megawatt Gomal Zam Dam project starts power generation
Power generation has been started from the Gomal Zam Dam, adding 17.4 megawatts (MW) electricity to the national grid. Prime Minister Nawaz Sharif had issued directives in this regard to the Planning Commission and expects formal inauguration of the project in the next few days. more...(DT)
Manufacturing sector suffers due to recession’
The manufacturing sector is suffering in Pakistan not only because of recession, power crisis and past flawed state policies but also because of weak associations related to industry, as trade bodies that acted proactively have succeeded to deliver adverse circumstances.