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Finance Minister Ishaq Dar on Monday chaired a meeting of Cabinet Committee on Privatisation (CCoP) and approved transaction structure for the divestment of up to 10% of GoP shares in Oil and Gas Development Company Limited (OGDCL) through capital markets. The Chairman Privatisation Commission, Muhammad Zubair gave the presentation and sought approval of transaction structure from the CCOP. An official said the meeting has approved the structure of transaction.

The sickly eurozone recovery is a drag on the outlook for the global economy, the OECD warned on Monday as it cut growth forecasts for most major advanced economies. The sluggish recovery is also at risk from increased tension over conflicts in Ukraine and the Middle East, and uncertainty over the future of Scotland, the Organisation for Economic Co-operation and Development said.
The Karachi share market Monday closed higher led by cement and banking stocks on strong valuations. The benchmark KSE-100 index moved slightly up by 25 points to close at 30,070 points compared to 30,045 points Friday. Analysts said the benchmark KSE-100 index saw a muted session and managed to post minor gains. "Concerns over political situation remained high as negotiations collapsed on the pretext of the government choosing to deal with protestors with an iron hand by trying to arrest the main leadership together with a sizable number of workers," they added.
The Karachi share market Monday closed higher led by cement and banking stocks on strong valuations. The benchmark KSE-100 index moved slightly up by 25 points to close at 30,070 points compared to 30,045 points Friday. Analysts said the benchmark KSE-100 index saw a muted session and managed to post minor gains. "Concerns over political situation remained high as negotiations collapsed on the pretext of the government choosing to deal with protestors with an iron hand by trying to arrest the main leadership together with a sizable number of workers," they added.
Federal Minister of Petroleum and Natural Resources Shahid Khaqan Abbasi has said that Pakistani and Iranian delegates will hold talks over the construction of Iran Pakistan (IP) gas pipeline within the next few days. Addressing a press conference here on Monday, Abbasi said the government has allowed Compressed Natural gas (CNG) stations to start importing Liquefied Natural Gas (LNG) for meeting the demand of CNG sector.
Minister for Water and Power Khwaja Mohammad Asif and Secretary Water and Power Nargis Sethi came under severe criticism of an Economic Co-ordination Committee (ECC) of the Cabinet meeting over the issue of over-billing to electricity consumers.
The banks are bound under the law not to take the currency notes inscribed with slogans or messages of political, religious or commercial nature. Such notes under the 1977 Ordinance promulgated by the then President, Fazal Elahi Chaudhry, cease to be a legal tender.
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Index Closing Chg%
Arrow DJIA 17,031.14 0.26
Arrow Nasdaq 4,518.90 1.07
Arrow S&P 1,984.13 0.07
Arrow FTSE 6,804.21 0.04
Arrow DAX 9,659.63 0.09
Arrow CAC-40 4,428.63 0.29
Arrow Nikkei 15,948.29 0.25
Arrow H.Seng 24,356.99 0.97
Arrow Sensex 26,816.56 0.90





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 15, 2014
Reserves $13.414 bln