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Finance Ministry's penchant for overstating GDP growth rate may have negative implications in terms of achieving some budgetary projections as well as compromise targets agreed with the International Monetary Fund (IMF) under the $6.64 billion extended Fund Facility. An official on condition of anonymity said that an inflated GDP helps the government show higher growth with positive political implications, but at the same time it makes it difficult to achieve projected increase in investment and saving as a percentage of GDP.

While acknowledging that corruption still exists in Pakistan Steel Mills (PSM), the entity's Chief Executive Officer (CEO), Major General Zaheer Ahmed Khan (Retd) sought Rs 8.13 billion in addition to Rs 18.5 billion for up-gradation of country's mega industrial unit. In a detailed presentation to Senate Standing Committee on Industries and Production, he said he would be able to achieve production target of 77 per cent - the breakeven point - by January next year. Mills' fixed monthly expenditure is Rs 1.75 billion.
The government on Tuesday reduced petroleum products' prices up to Rs 2.95 per litre, effective from October 1. According to a notification issued by the government, petrol price has been reduced by Rs 2.95 per litre, kerosene by Rs 1.31 per litre, High Speed Diesel (HSD) by Rs 0.95 per litre, Light Diesel Oil (LDO) by Rs 0.67 per litre and High Octane Blending Component (HOBC) by Rs 1.88 per litre.
The Karachi share market Tuesday bounced back after a couple of 'red' sessions. The benchmark KSE-100 index gained 343 points to close at 29,726 points compared to 29,383 points Monday. "Overwhelming response to Saif Power positively affected the overall sentiment, while renewed buying in UBL and NBP also supported the share price of banking sector," said Samar Iqbal, Assistant Vice President, Equity Sales Topline Securities.
The Karachi share market Tuesday bounced back after a couple of ''red'' sessions. The benchmark KSE-100 index gained 343 points to close at 29,726 points compared to 29,383 points Monday. "Overwhelming response to Saif Power positively affected the overall sentiment, while renewed buying in UBL and NBP also supported the share price of banking sector," said Samar Iqbal, Assistant Vice President, Equity Sales Topline Securities.
Inflation in the world's richest nations eased for the third straight month in August, the OECD said on Tuesday, dragged down by slowing price rises in Europe's moribund economy. Consumer prices rose by 1.8 percent in the year to August in the 34 advanced democracies which make up the Organisation for Economic Co-operation and Development, down from 1.9 percent in July.
The Federal Board of Revenue (FBR) has provisionally collected Rs 549 billion during first quarter (July-September) 2014-15 against Rs 481 billion in the corresponding period of 2013-14, reflecting an increase of 14 percent. According to the provisional figures compiled here on Tuesday, the FBR has collected Rs 230 billion in September 2014 against Rs 202 billion in September 2013, showing an increase of 14 percent.

 



 
Index Closing Chg%
Arrow DJIA 17,042.90 0.17
Arrow Nasdaq 4,493.39 0.28
Arrow S&P 1,972.29 0.28
Arrow FTSE 6,622.72 0.36
Arrow DAX 9,474.30 0.55
Arrow CAC-40 4,416.24 1.33
Arrow Nikkei 16,173.52 0.84
Arrow H.Seng 22,932.98 1.28
Arrow Sensex 26,630.51 0.13





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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 $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln