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The total amount of loss to Pakistan Railways during 2008-09 was Rs 18.609 billion that has now soared to Rs 37 billion. Minister for Railways Khawaja Saad Rafique informed the National Assembly on Wednesday that losses of Pakistan Railways were decreasing as the ministry has been taking strict measures to overcome the deficit.

The Federal Board of Revenue (FBR) has imposed a 20 percent regulatory duty on the import of sugar, says a notification issued on Wednesday. According to the SRO 143(I)/2014, in exercise of powers conferred by sub-section (3) of Section 18 of the Customs Act, 1969 (IV of 1969), the federal government has levied regulatory duty @ 20 percent ad valorem on the import of sugar falling under the Pakistan Customs Tariff headings 1701.1310, 1701.1390 and 1701.9910 of the First Schedule to the Customs Act, 1969 (IV of 1969).
Senate Standing Committee on Finance directed the Competition Commission of Pakistan (CCP) to issue a policy note/directive to the Oil and Gas Regulatory Authority (Ogra) for a 20 percent reduction in POL products' prices in line with the international prices. The committee which met here on Wednesday with Senator Osman Saifullah in the chair asked the CCP to issue a policy note to the concerned regulator in this regard.
Pakistan has successfully returned to the international Sukuk market, with the issuance of US dollar-denominated Sukuk Notes under Reg-S/144a format. The last international Sukuk was issued nine years ago. The government was seeking to raise only US $500 million. However, the issue received a very high response from investors who made a subscription of US $2.3 billion, which was nearly five times of the target amount.
The Cabinet Committee on Privatisation (CCoP) Wednesday approved the transaction structure for divestment of government stake in Allied Bank Limited (ABL). A meeting of the CCoP chaired by Finance Minister Ishaq Dar through a video-con from London approved the transaction structure of ABL shares.
Hostilities between rivals India and Pakistan on Wednesday threatened to scupper efforts by South Asian leaders to boost trade among almost a quarter of the world's people, throwing into doubt any prospect of a regional customs union. India-Pakistan bickering spilled into a two-day regional summit in Kathmandu, and their leaders refused to meet. Indian and Nepali officials claimed Pakistan declined to sign three multilateral pacts with the eight members of the South Asian Association for Regional Co-operation (SAARC).
After shedding 271.1 points since the beginning of the current week, the benchmark KSE 100-share index Wednesday snapped the losing streak and recovered 230.73 points or 0.74 percent to close at 31,454.47 points. The KSE-100 index closed at 31,454.47 points, up 0.74 percent or 230.73 points as compared to 31,223.74 points Tuesday. Among top 10 volume leaders, nine companies recorded a positive trend.
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Index Closing Chg%
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln