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Fuel and Energy: Pakistan

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The Pakistan State Oil (PSO) has requested the government to release Rs 150 billion, urgently so that it could pay outstanding liabilities to avoid the looming default, which at present stands at Rs 188 billion. According to sources, PSO''s total circular debt has almost touched Rs 400 billion mark, and if Rs 150 billion is not being provided, the entity could default.

The Oil and Gas Regulatory Authority (Ogra) has clamped immediate ban on the use of compressed natural gas (CNG) in public transport vehicles to prevent deadly accidents, ease gas shortage and improve gas pressure. The decision was taken in a meeting headed by the chairman Ogra here on Friday. The buses that have cylinders on roofs and underneath will be banned. Ban has been imposed after dialogue with the CNG Association.
All Pakistan CNG Association on Friday announced that it will observe strike on January 1, 2012 in protest against government''s decision of exorbitant hike in CNG prices and imposition of ban on public and commercial vehicles using CNG.
Water and Power Minister Naveed Qamar on Friday acknowledged that shortage of energy in the county "is one of the major impediments to economic growth". Talking to media at a local hotel, after the ground breaking ceremony of 50 MW Three Gorges Wind Farm, being established in Jhimpir, Thatha district.
A local scientist, Arbab Abdul Wakil, has invented machine for generation from untraditional mean through animals. Talking to Business Recorder, he said that in Pakistan beside, the main source of hydel energy, the other sources are oil, gas including nuclear energy and the whole country's power generation depends on these sources.
The USAID Power Distribution Programme, in collaboration with the Islamabad Electric Supply Company (Iesco) organised an interactive session for Islamabad College for Girls F-6/2 on gender and effective energy saving habits at home and the workplace. Female officers from Iesco delivered lectures to the Girls' college students.
The Oil and Gas Regulatory Authority (Ogra) on Friday notified a massive hike of 14 percent in gas tariff on all the consumer categories with the imposition of gas infrastructure development cess on all categories expect domestic, commercial, cement and new fertiliser plants with effect from January 01, 2011.

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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 Saturday.
BuyingRs 90.40
SellingRs 90.45
Rates keep coming down

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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