LAHORE -  After breaching the 20,000 mark the equity market closed the week at 21,284, up 3.6 per cent WoW. Investors remained in a buoyant mood with active participation witnessed as average daily volumes remained firm at 439 million share, up 29 per cent WoW. Oil & Gas (up 8.2 per cent ...

KARACHI - Stock market remained high amid thin trade led by selected blue chip stocks on strong valuations.The Karachi stock market benchmark KSE-100 share index marginally up by 9.74 points or 0.05 percent to end the day at 18,723.35 points compared to 18,713.61 points of a day earlier. In the ...

ISLAMABAD - With the start of hot summer, mounting circular debt might force some power plants to shut down their operation of electricity generation in upcoming days, worsening load-shedding crisis across the country. Reliable sources in water & power ministry disclosed that Pakistan Electric ...

LAHORE - Where prevalent gas curtailment advocates for higher oil consumption, notorious circular debt along with higher prices is keeping a check on overall oil sales in the country, industry experts said. Extrapolating for last few days of March, country’s oil sales stood at 14.1 million ...

ISLAMABAD - Due to poor economic conditions transmission and distribution T&D losses in power sector, circular debt in the last five years increased to Rs 711 billion.According to USAID report for the Causes and Impacts of Power Sector Circular Debt in Pakistan in 2008 circular debt was ...

ISLAMABAD - Planning Commission and United States Agency for International Development (USAID) have jointly calculated that power sector circular debt has reached Rs 872.4 billion by June 30, 2012 from Rs 84 billion in 2005.Planning Commission and USAID unveiled the report titled Circular Debt ...

ISLAMABAD  – The Circular debt of the country in energy sector has exceeded to an alarming level of Rs 872 billion during the last year 2012-13. According to an official of the finance ministry, power sector has remained the major reason behind the increase in the circular debt and ...

ISLAMABAD – As part of its larger plan to cut down circular debt, the government has drawn up a ‘simple formula’ under which the hefty loan of Rs136 billion that it took at a mark-up of staggering Rs15 billion, would be recovered from the power consumers in the shape of tariff ...

KARACHI  – Karachi Metropolitan Corporation Administrator Muhammad Hussain Syed has said that 2013 would be the year of starting the Karachi Circular Railway while other transport projects under public-private partnership would also be initiated next year. He said the KCR project, ...

While defending his Thar Coal project in the Nation, Dr Samar Mubarakmand has said that reservations about Kalabagh dam should be addressed as it is a feasible project. He said when agreements with IPPs and RPPs were being signed it was not considered that oil prices would shoot up and gas reserves ...

KARACHI - Share market closed bullish across the board on positive statement by US State department on Iran Pipeline. At local equity benchmark Karachi Stock Eexchange 100-share index added 147.59 points or 1.14 percent on Friday to stop the day at 13,088.97 points as compared to 12,941.38 points ...

ISLAMABAD - Chairing a meeting on Wednesday, Prime Minster Yousuf Raza Gilani took the cabinet and coalition partners into confidence on by-polls and the 20th Amendment Bill that will be tabled in the National Assembly during the current session.Sources close to the development told this scribe ...

ISLAMABAD - The Economic Coordination Committee (ECC) of the Cabinet on Friday has allowed the issuance of sovereign guarantee by the Ministry of Finance in terms of financing facility for the power sector to resolve the circular debt issue.The Economic Coordination Committee of the Cabinet, met ...

ISLAMABAD - Showing satisfaction over the current economic situation, Secretary Finance Dr Waqar Masood Khan Friday informed that the government has issued investment bonds worth Rs 391 billion to resolve the circular debt issue of food commodity and power sector. Talking to the media persons, ...

ISLAMABAD - While showing concerns over the escalating power sector circular debt, the National Assembly Standing Committee on Petroleum and Natural Resources has recommended hydro, nuclear and coal energy to be used as alternative energy source. The NA body was informed that circular debt has ...

ISLAMABAD - The Supreme Court was informed on Tuesday that Circular-29 does not empower to write-off loans but the sole purpose of it was to regulate, supervise, and circumscribe power to waive off loans, given under Section 196 of the Banking and Companies Act 1984. A three-member bench comprising ...

LAHORE - The circular debt continued to hamper the Kot Addu Power Company (KAPCO) cash flows and dividend paying ability, as the gap in power generation cost and consumer prices kept on maximizing. Experts said that the company in its first half (Jul-Dec) FY11 result registered an impressive ...

LAHORE (PPI) - With electricity tariff rates put on hold for last several months, government is bearing a subsidy of Rs15-16 billion a month. And due to recent surge in international oil markets led by concerns in Middle East and North Africa, investors are worried that subsidy on electricity may ...

ISLAMABAD (PPI) - Islamabad Chamber of Commerce & Industry (ICCI) has called upon the government to take concrete measures for permanent solution of circular debt issue, which is holding back the country from achieving economic growth up to its potential. Zahid Maqbool, President, ICCI said ...

KARACHI - Hopes from the Pak-US strategic talks gave boost to the stock market and the KSE 100-index once again crossed the psychological barrier of 10,000 on Wednesday, gaining 182.92 points to close at 10146.27. The instruction to the Finance Ministry for releasing Rs42b to Pepco to resolve the ...

KARACHI - The State Bank of Pakistan on Saturday directed the Presidents / Chief Executive Officers of all banks and DFIs through a circular to follow the new system of payment and settlement of home remittance transactions under Pakistan Remittance Initiative (PRI). The central bank in a ...

ISLAMABAD (APP) - The Ministry of Finance is all set to clear the circular debt of Independent Power Plants during the current month in a bid to lower the gap between power production and high demand. Minister of State for Finance and Economic Affairs Ms. Hina Rabbani Khar in a meeting with Prime ...

LAHORE - Pakistan Sugar Mills Association Punjab Zone Chairman Javed Kayani has said that State Bank of Pakistan should immediately withdraw BPRD Circular No 2 issued on Monday wherein SBP has issued instructions to all Banks and DFIs to enforce 50 per cent cash margin against pledge of sugar in ...

KARACHI - The circular debt has exceeded rupees 300 billion during November 2008 on account of sharp rise in deferential claims against a state owned power company (PEPCO). In June 2008, the inter-corporate circular debt reached around 200 billion rupees. The outstanding debt held by oil marketing ...