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Fuel and Energy: Pakistan

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Pakistan and Qatar are likely to sign two Memoranda of Understanding (MoUs) according to which the two countries will jointly explore development of hydropower, identification of sources of financing, exploration of investment opportunities in energy sector, rehabilitation of existing hydropower plants and construction of National Highway and Motorway infrastructure, official sources told Business Recorder.

The price of liquefied petroleum gas (LPG) has reached a record high, as the state owned LPG producers have increased their production price by Rs 15,800 per ton, or Rs 16 per kg. A notification issued by Pak Arab Refinery (Parco) said: "Ex-Refinery price of LPG from Parco mid-country refinery, Mahmood Kot, for licensed marketing companies will be Rs 83,000 per ton."
Lahore High Court here Friday sought replies from federal government and Oil and Gas Regulatory Authority (Ogra) by February 6 in a petition challenging recent increase in gas prices. A bar member, Mian Asad Muhammad, contended that Ogra increased gas prices in January and February in violation of basic human rights.
Governor Sindh, Dr Ishrat-al-Ebad Khan said here on Friday that in view of Rabi-ul-Awwal, CNG stations would not be closed on February 4 (today). A statement said that the governor issued directives to this effect on the request of ulema. It said that the governor asked concerned officials to ensure compliance of the directive.
The CNG industry has requested the government to withdraw Infrastructure Development Cess (IDC) on CNG, saying that the industry is already paying higher than other consumers. National Assembly recently adopted the resolution to withdraw recent hike in oil prices.
The distributors of liquefied petroleum gas (LPG) have announced that they would observe countrywide strike on February 15 against the government's inability to regulate LPG prices. This was stated by Irfan Khokar, Chairman of All Pakistan LPG Distributors Association while talking to Business Recorder here on Friday.
Schneider Electric, a global specialist in energy management, today announced its participation in the White House's Better Buildings Challenge, pledging a commitment to reduce the energy use of nine million square feet of its own building space, covering 40 different plants, by 25 percent.

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Banking Review 2011


The Wall

ArrowEuro 1.3158
ArrowSterling 1.5815
ArrowSwiss Franc 0.9182
ArrowYen 76.6015
ArrowGold 1740.300
ArrowCotton 96.340
ArrowOil 97.840
Index Closing Chg%
Arrow DJIA 12,862.20 1.23
Arrow Nasdaq 2,905.66 1.61
Arrow S&P 1,344.90 1.46
Arrow FTSE 5,901.07 1.81
Arrow DAX 6,766.67 1.67
Arrow CAC-40 3,427.92 1.52
Arrow Nikkei 8,831.93 0.51
Arrow H.Seng 20,757.00 0.08
Arrow Sensex 17,605.00 0.99

The Rupee

Interbank closing rates for dollar on Friday.
BuyingRs 90.40
SellingRs 90.45
All-round decline

Annual2010/11
Foreign Debt $59.53bn
Per Cap Income $1254
GDP Growth 2.4%
Average CPI 14.10%
MonthlyDecember
Trade Balance $-2.41 bln
Exports $1.85 bln
Imports $1.26 bln
WeeklyJanuary 26, 2012
Reserves $16.802 bln
ArrowBRIndex-30 9,104.17
ArrowKSE-30 Index 11,258.08
ArrowKSE-100 Index 11,982.62
ArrowLSE-25 Index 3,122.96
ArrowISE-10 Index 2,627.71
ArrowGold Per 10gm 50,914.00
ArrowKCA Spot Rate 5,700.00
ArrowLibor Rate 0.76850

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