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 Stocks & Bonds - Pakistan
Two weekly holidays to continue till October 31: provinces asked to clear power dues
ZAHEER ABBASI
ISLAMABAD (July 28 2010): The energy conference chaired by Prime Minister Yousuf Raza Gilani on Tuesday decided to continue with two weekly holidays and closure of markets at 8pm for another three months, ie till October, 2010.

Sources said the Prime Minster also directed the provinces to clear their outstanding dues and constituted a ministerial committee with Minister for Finance, Water and Power and Petroleum for holding separate talks with chief ministers to resolve the matter of power dues on an urgent basis.

They said Khyber Pakhtoonkhwah Chief Minister Amir Haider Hoti proposed that their outstanding dues on account of hydel profit should be adjusted against power arrears payable by the province. Finance Minister Dr Hafeez Shaikh who was also present during the meeting was of the view that this proposal might be feasible.

They said a ministerial committee constituted by the Prime Minister to hold talks with chief ministers also held discussions on the issue with Sindh Chief Minister Syed Qaim Ali Shah after the meeting on energy. The meeting on energy review which was attended by the Chief Ministers of Sindh, Balochistan and Khyber Pakhtoonkhwah also decided that strict implementation on conservation measures would be ensured at all levels.

The meeting further decided that there would be no loadshedding at all at the time of "Sehar" and "Iftar" during Ramazan. The Prime Minister while concluding the conference appreciated the role of the provincial governments in the implementation of measures regarding conservation of energy. He also lauded the co-operative attitude and commitment of the provincial governments to resolve all relevant issues through discussion and dialogue.

The Prime Minister said the challenge of energy shortage has to be faced collectively since it affects the entire country. It is a collective responsibility of the federal and the provincial governments to overcome this issue. Earlier, all the chief ministers shared their views on the decision taken in the first energy conference and matters relating to their respective provinces. The Minister for Water and Power and the Minister for Petroleum & Natural Resources briefed the conference on the present energy situation in the country.

Copyright Business Recorder, 2010



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The Rupee
Interbank closing rates for dollar on Wednesday.
BuyingRs 85.70
SellingRs 85.75
Dollar down sharply
7481.03  73.24
Sectoral Indices 
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KSE-30 Index 9,713.73
KSE-100 Index 9,891.13
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Libor Rate 0.49669
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Economic Indicators
Annual2009/10
Foreign Debt $53.01bn
Per Cap Income $1046
GDP Growth 4.1%
Average CPI 11.73%
MonthlyJuly
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Exports $1.78 bln
Imports $3.24 bln
WeeklySeptember 02, 2010
Reserves $16.12 bln
 









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