karachi   Agricultural credit disbursement by banks surged by 15.74 percent on year-on-year basis to Rs 259.1 billion in the first ten months (July-April, FY 2013) of the current fiscal year (2012-13). According to State Bank ofPakistan, overall credit disbursement by five major ...

Islamabad - The Planning Commission of Pakistan has so far released Rs 183 billion under its Public Sector Development Programme (PSDP) against the total allocations of Rs233 billion for the fiscal year 2012-13.According to the latest data released by of the Planning Commission, an amount of Rs ...

ISLAMABAD - The Ministry of Railways has demanded Rs 67 billion from the Finance Ministry to meet with non-development expenditures during 2013-14 fiscal year.“We have finalized the non-development budget of official expenditures, salaries, pensions and other heads and sent the same to the ...

LAHORE - Pakistan Railways is planning to fix the train fare at the rate of Rs 1 per kilometre all over the country. The railways management is deciding on these lines just to attract more passengers towards the train travel. The new fare system is likely to be implemented from the start of the ...

karachi - The bailout package worth Rs.11 billion will soon be given to Pakistan Steel Mill by the Federal Government of Pakistan, sources said Friday. The entire bailout package will only be used for procurement/import of raw materials i.e. (Iron Ore & Coal) to enhance the production to 80pc ...

islamabad - The provincial governments have recorded budget surplus of Rs 142.288 billion during the first nine months (July-March) of the current fiscal year 2012-13 that was only Rs 4.830 billion in the corresponding period of the previous financial year. According to official figures of the ...

islamabad - The government failed to control the soaring budget deficit as Pakistan’s fiscal deficit reached Rs 1,046.22 billion (4.4 per cent of the GDP) during three quarters of the outgoing financial year 2012-2013 due to lower revenue collection and higher expenditure.Pakistan’s ...

lahore - Two officials of Punjab Planning Development Department have been found to embezzle about Rs 21.35 million in their department.This was revealed in reference case sent to the Punjab government for taking action under PEEDA Act 2006 and lodging of FIR against the officials in the ...

islamabad - The Planning Commission of Pakistan has so far released Rs 170.7 billion under its Public Sector Development Programme (PSDP) against the total allocations of Rs 233 billion for the fiscal year 2012-13.According to the latest data of the commission, an amount of Rs 86.3 billion has been ...

lahore - The Punjab government has approved twenty one (21) revised on-going development schemes of various sectors of the economy with an estimated cost of Rs25.72 billion. These schemes were approved in the 33rd meeting of Provincial Development working Party of current fiscal year 2012-13 ...

KARACHI : Pakistan Steel Mill CEO Muhammad Javaid has felicitated caretaker PM Mir Hazar Khan Khoso for taking courageous step of giving Rs11 billion bailout package to PSM. The CEO stated that it is a bold step on behalf of the caretaker government which has decided to provide guarantee to ...

ISLAMABAD : The govt has so far released Rs 158.900 million for five major projects of the Textile Industry Division under its PSDP, official sources said Friday. The total cost of all these projects has been estimated at Rs 2081.440, out of which Rs 227m would be released during the ongoing year. ...

LAHORE - The General Elections 2013 will cost Rs 23.96 billion if the proposed expenditure of Election Commission of Pakistan does not exceed the estimates and the candidates do not spend more than allowed amount on their campaigns. The ECP has allowed the National Assembly and provincial assembly ...

Islamabad - Prime Minister Mir Hazar Khan Khoso has said that the caretaker government has taken measures to rehabilitate Pakistan Steel Mills (PSM) so that it can contribute to the economic development of the country. These observations were made by the Prime Minister during a meeting held at ...

Islamabad - Owing to financial constraints of Pakistan State Oil (PSO), which is left with five days storage of furnace oil, already spiralling up power outages might worsen if the cash-starved government did not release at least Rs 10 billion to the state owned fuel supplier. Official sources in ...

islamabad - The performance of Pakistan International Airlines (PIA) is improving which is evident from reduction in its losses during last six months by Rs 1 billion per month on average.“This was possible due strict financial monitoring and adoption of effective cost saving measures,” ...

ISLAMABAD - The Water and Power Development Authority (Wapda) has initiated Muzaffargarh Canal Lining Project with an estimated cost of Rs.8.66 billion to control water logging in district Muzaffargarh. Official sources told APP that the lining of Muzaffargarh Canal and other remedial measures are ...

lahore - Despite prime minister’s clear instructions to ensure power supply on the polling day, the Punjab government has reportedly allowed the district administrations to draw money up to one million each for alternative energy arrangements, sources in S&GAD confided TheNation.Caretaker ...

islamabad - The new government would announce the annual budget 2013-2014 in the first or second week of the June envisaging GDP growth target at 4.5 per cent and budget deficit target at 5.8 per cent of the GDP for the next financial year.Sources informed that government, to be formed after the ...

ISLAMABAD : The Planning Commission of Pakistan has so far released Rs 170.3 billion under its Public Sector Development Programme (PSDP) against the total allocations of Rs 233 billion for the fiscal year 2012-13.According to the latest data of the commission, an amount of Rs 86.2 billion has been ...

islamabad - National Transmission Dispatch Company (NTDC) has pleaded the National Electric Power Regulatory Authority (NEPRA) to set Rs6.41/unit as advance tariff of 640 MW Azad Pattan Hydropower Project.Since the hydropower project is located in AJ&K, which is outside Nepra’s ...

KARACHI - Millers again increased the price of flour which brought Rs 2 addition in its retail prices in both quality of flour including fine and grind now available on Rs 38/kg and Rs 40/kg respectively at local market. Earlier prices of wheat grain rose by Rs 80-100 per 100-kg bag in the domestic ...

lahore - The Punjab government has decided that the next development budget (2013-14) in the province would be Rs 200 billion, in which, 80 per cent of funds would be allocated for ongoing development schemes. P&D officials said that in southern Punjab, development funds would also be allocated ...

KARACHI (PR): NIB Bank announced financial results for the Q1 2013. Importantly, the Bank has posted a Q1 2013 revenue of Rs 1.42 billion, representing not only a 21pc growth over Q1 2012 but an impressive revenue growth in the last five quarters. This translated into a record profit before tax of ...

LAHORE  - The Liquefied Petroleum Gas (LPG) marketing companies on Tuesday reduced the prices of LPG by Rs6 per kilogramme (kg). The companies took decision following the reduction of prices in the international market and that the Ogra ensured the implementation on new prices, said the ...

National Electric Power Regulatory Authority (NEPRA) has approved increase in power tariff by Rs 1.34 per unit under fuel adjustment.Central Power Purchasing Agency (CPPA) had sought increase of Rs 1.37 per unit, stating that production of 6,000MW exceeded Rs 54 billion due to additional usage of ...

lahore - Presently, outstanding refunds of more than Rs60 billion have been pending before different revenue collecting agencies at federal and provincial levels for several years. Industry sources questioned that how the FBR would handle the cases after ending zero rating regime and piling up more ...

LAHORE - Chief Minister Najam Sethi has said that as a result of untiring and sincere efforts of the Punjab, the federal government has given approval to the release of Rs 45 billion for reducing loadshedding. He was presiding over a high-level meeting at the chief minister’s secretariat to ...

islamabad -  ahmad ahmadani - High-ups of the National Electric Power Regulatory Authority (Nepra) have approved hike of Rs1.05/unit in tariff as interim relief to Halmore Power Generation Company Ltd (HPGCL) on account of capacity charge ostensibly in a dubious bid to favour the private power ...

ISLAMABAD (APP):  The Ministry of Railways would demand around Rs 75 billion budget for next fiscal 2013-14 to meet its expenditures. “We are in the process of finalizing a draft for the demand for grant.  This demand would later be forwarded to the Finance Division during next ...