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Senate Committee on Industries recommends Rs3bn package to PMTF, opposes privatisation KARACHI: Led by Senator Hidayatullah, Senate Standing Committee on Industries and Production has recommended immediate bail out package of Rupees three billion for Pakistan Machine Tool Factory (PMTF) and write-off of Rs1.155 billion bank loans besides permission to induct manpower.Other members of the Senate committee included Senator Aurangzeb Khan, Senator Mrs Khalida Perveen and Senator Mrs Kulsoom Parveen. The committee had a detailed visit to PMTF on Thursday.Once very strong and successful public sector industrial entity, PMTF's decline started when it was placed on privatisation list in 1999, PMTF management said.PMTF is facing financial crisis after very successful four decades since its commission in 1970. The decline in PMTF's production and sales is due to its shrinked capacity because of no modernization and upgradation of the plants and machinery since 1985, said PMTF's Chairman, Syed Mohiyuddin Kaukab and its Managing Director, Engr. Ahmed in their briefings to the Senate Committee.The ...

PIA clarifies media report about imposition of fine in Saudi Arabia ISLAMABAD: Pakistan International Airlines (PIA), through its legal department, has appealed to Qazi court in Saudi Arabia to resolve a matter regarding hiring of a building for pilgrims in 2011."With reference to reports being carried by a segment of media, regarding imposition of fine on PIA for hiring of a building for Hujjaj in 2011, it is clarified that PIA, through its legal department, has appealed to Qazi court in Saudi Arabia which has asked ...

'Wheat cultivation target to be achieved' SARGODHA: Executive District Officer (EDO) Agriculture Ramzan Khan Niazi has said hundred percent wheat cultivation target will be achieved this year as 65 percent has been achieved so far.Talking to APP on Friday, he said the wheat cultivation would be completed till December 15 for which Agri officers were paying visit to various villages to motivate farmers to complete wheat cultivation as soon as possible.The EDO said according to reports of Agri staff over 531,000 ...

ICT for Girls programme opens modern knowledge doors for women: Anusha ISLAMABAD: Minister of State for Information Technology and Telecommunications, Anusha Rahman on Friday said initiation of ICT for Girls programme has opened doors of IT and modern knowledge for future builders of Pakistan to become entrepreneurs and contributors to national development."It is quite important and vital that women segment who constitutes 50 per cent of country's population, should come forward, show their potential and contribute in socio-economic development," she said while addressing a signing ceremony ...

ECP to hold by-elections in PP-89 on January 6 ISLAMABAD: The Election Commission of Pakistan (ECP) has decided to hold by-elections in PP-89 (Toba Tek Singh) on January 6, 2016 and issued schedule.According to spokesman of ECP, the nomination papers will be filed on December 1 and 2 whereas the verification process will be completed on December 9.The candidates can file their appeals to the tribunals against the decisions of the returning officers till December 12 and tribunals would decide on their appeals till ...

Providing gas to domestic consumers top priority: SNGPL MULTAN: Sui Northern Gas Pipelines Limited Multan region General Manager Muhammad Hanif Ramay said providing gas supply to domestic consumers was a top priority.He said sui gas loadsheding under the load management plan was being made from 9 pm to 6 am daily across the region while gas supply was being provided to domestic and commercial consumers in day time with full pressure.Talking to APP here on Friday, Hanif Ramay said the demand of sui-gas ...

SBP injects Rs1250.05bn KARACHI: State Bank of Pakistan (SBP) on Friday injected Rs 1,250.05 billion into money market for seven days through its open market operation (OMO).The rate of return is 6.06 percent per annum, said SBP statement.Copyright APP (Associated Press of Pakistan), 2015


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln