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National Electric Power Regulatory Authority (Nepra) on Tuesday approved refund of 0.4 Pasia and 45 paisa per unit to the consumers of K-Electric overcharged in April and May 2015 respectively under monthly fuel adjustment mechanism. The decision was taken at a public hearing held at Nepra headquarters presided over by Chairman Nepra Brig. Tariq Saddozai (Retired).

Karachi stocks showed some recovery Tuesday gaining 99 points after Monday's panic selling that saw the KSE-100 index nose-diving by 1.78 percent (640 points). Acting in what equity analysts said a 'bizarre way', the benchmark index closed at 35,274.66 points compared to 35,175.49 Monday. With second- and third-tier stocks leading the day's rally, the trading turnover dropped to 363 million shares from 571 million. The traded value also contracted to Rs 12.25 billion compared to the previous Rs 12.70 billion.
Karachi stocks showed some recovery Tuesday gaining 99 points after Monday''s panic selling that saw the KSE-100 index nose-diving by 1.78 percent (640 points). Acting in what equity analysts said a ''bizarre way'', the benchmark index closed at 35,274.66 points compared to 35,175.49 Monday. With second- and third-tier stocks leading the day''s rally, the trading turnover dropped to 363 million shares from 571 million. The traded value also contracted to Rs 12.25 billion compared to the previous Rs 12.70 billion.
Secretary Finance Dr Waqar Masood said that discussion with the International Monetary Fund (IMF) on eighth review of $6.64 billion Extended Fund Facility (EFF) would begin from today (Wednesday) in Dubai. Talking to media persons after a meeting of Senate Standing Committee on Finance, he said that the review would continue till August 6 in two rounds - technical level discussion to be followed by policy level talks from August 3. He added that talks would be held as per agreed performance criteria.
The Federal Board of Revenue (FBR) has constituted three committees i.e. "Communication Committee", "Income Tax Committee", and "Sales Tax Committee" to facilitate business community to become filers and resolve their issues of income and sales taxes. A senior FBR official said that the representatives of traders associations and chambers present in the meeting assured the tax authorities that they would not participate in any shutter down strike on August 1 or 5.
The National Accountability Bureau (NAB) on Tuesday submitted an additional list to the Supreme Court pertaining to 29 mega corruption cases of three categories - financial, land grabbing and misutilization of powers - worth Rs 480 billion. In addition to earlier report of 150 mega scams that the NAB submitted in the apex court of such categories, it provided a list of 17 financial scams, five cases of land grabbing and seven cases of misutilisation of powers.
State Bank of Pakistan (SBP) has directed the banks and Microfinance Banks that recoveries under Credit Guarantee Scheme (CGS) for Small and Rural Enterprises may be reimbursed to SBP Banking Services Corporation BSC within 10 days. Earlier, banks and Microfinance banks were required to remit proportionate share of the Guarantee Scheme to State Bank within two working days.

 



 
Index Closing Chg%
Arrow DJIA 17,751.39 0.69
Arrow Nasdaq 5,111.73 0.44
Arrow S&P 2,108.57 0.73
Arrow FTSE 6,631.00 1.16
Arrow DAX 11,211.85 0.34
Arrow CAC-40 5,017.44 0.81
Arrow Nikkei 20,302.91 0.13
Arrow H.Seng 24,619.45 0.47
Arrow Sensex 27,563.43 0.38





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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%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln