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The government has reportedly earned Rs 2 billion in just three months through a levy of Regulatory Duty on import of different steel products. On January, 14, ECC decided to levy RD on steel products with the intention to gain an additional revenue and also to provide a fair competitive environment for domestic units and imported goods.

A resource-constrained government of Pakistan has decided to say goodbye to Tuwairqi Steel Mills Limited (TSML) instead of incurring an annual monetary loss of Rs 11-17 billion. TSML, a joint venture (JV) of POSCO of South Korea and Al-Tuwairqi Group of Saudi Arabia, has long been at odds with the federal government over what the company claims non-application of feedstock tariff of natural gas it was assured initially by the previous government in a bid to provide a level-playing field.
Having planned to add about 10600 megawatts (MW) of electricity to the national grid by end 2017, the PML-N dominated federal government is all set to convene a parliamentary parties meeting to take the country's political stakeholders in confidence on Pak-China Economic Corridor (PCEC). Federal Finance Minister Muhammad Ishaq Dar says various mega power projects are presently under implementation to not only bridge the existing 4500MW energy deficit but also cater to the additional demand for industrial sector.
The Ministry of Industries and Production has sought Rs 10 million for an advertisement campaign of a Rs 1.770 billion Ramazan package for the upcoming month of Ramazan, it was learnt. Sources told Business Recorder that Ministry of Industries presented a proposal to the Economic Co-ordination Committee (ECC) of the Cabinet chaired by Finance Minister last Thursday.
The Karachi share market Monday closed higher led by select scrips across the board on strong valuations. The benchmark KSE-100 index gained 69 points to close at 33,844 points up from 33,775 points last Friday.
The Karachi share market Monday closed higher led by select scrips across the board on strong valuations. The benchmark KSE-100 index gained 69 points to close at 33,844 points up from 33,775 points last Friday.
Pakistan State Oil (PSO) has reportedly sought federal government's authorisation to import petroleum products on C&F basis, arguing that experience of business with Pakistan National Shipping Corporation (PNSC) is unsatisfactory, sources close to Secretary Petroleum told Business Recorder.
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Index Closing Chg%
Arrow DJIA 18,037.97 0.23
Arrow Nasdaq 5,060.25 0.63
Arrow S&P 2,108.92 0.41
Arrow FTSE 7,103.98 0.47
Arrow DAX 12,039.16 1.93
Arrow CAC-40 5,268.91 1.30
Arrow Nikkei 19,983.32 0.18
Arrow H.Seng 28,433.59 1.33
Arrow Sensex 27,176.99 0.95





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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln