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Shahbaz for increasing revenue of province LAHORE: Punjab Chief Minister Muhammad Shahbaz Sharif Wednesday said that there is a need for increasing revenue of the province to provide maximum facilities to the citizens.He said this while presiding over a meeting which reviewed the performance of Punjab Revenue Authority. Chairperson Punjab Revenue Authority Dr Raheel Ahmad Siddiqui gave a briefing to the meeting.He said that Punjab government has taken effective measures for ensuring transparent and proper utilization of funds. He said that culture of transparency has been introduced and resources are being spent honesty, adding there should be a system of reward and punishment in the tax collection departments.Provincial Ministers Rana Sanaullah, Dr Ayesha Ghaus Pasha, Chief Secretary and concerned officers were present in the meeting.Copyright APP (Associated Press of Pakistan), 2015

SBP accepts Rs 53.864bn bids for sale of PIBs KARACHI: State Bank of Pakistan (SBP) on Wednesday accepted bids of Rs 53.864 billion for the auction of Pakistan Investment Bonds (PIBs) with maturing period of 3, 5, 10 and 20 years. The coupon rates will be 9.75 %, 9.25 %, 9.75% and 10.75 %, said SBP statement here. Copyright APP (Associated Press of Pakistan), 2015

Agriculture records positive trends with 2.9pc growth ISLAMABAD: The overall performance of agriculture sector has recorded 2.9 percent growth during 2014-15 as compared to 2.7 percent during previous year owing to positive development in all related agriculture sub-sectors.The crops witnessed a growth of 1 percent, livestock 4.1 percent, Forestry 3.2 percent and Fishing 5.8 percent.The agriculture's crop sub-sector component which includes important crops, other crops and cotton ginning showed growth of 0.3 percent, 1.1 percent and 7.4 percent respectively.Official sources on Wednesday ...

Banks disburse Rs 368.7bn agriculture credit in ten months ISLAMABAD: The banks in the country have disbursed Rs 368.7 billion agriculture credit during first ten months of previous fiscal year which was 73.74 percent of overall annual target of Rs 500 billion.The disbursement was 27.84 percent higher than of Rs. 288.387 billion made during corresponding period last year.Sources in Agriculture Division on Wednesday said the decision has been taken to facilitate farmers' community as the government has seriously focused on bringing improvement in real ...

LSE gains 16.56 points LAHORE: The Lahore Stock Exchange (LSE) here Wednesday witnessed bullish trend by gaining 16.56 points as the LSE Index-25 opened with 6239.77 points and closed at 6256.33 points. The market's overall situation also corresponded to an upward trend as it remained at 1.480 million shares to close against previous turnover of 960,000 shares, showing an upward move of 520,200 shares. While, out of the total 86 active scrips 31 moved up, 8 shed values and ...

NBP role in accelerating home remittances highlighted KARACHI: National Bank of Pakistan (NBP) has been playing a pivotal role in accelerating home remittances business. Global home remittance significantly contribute to the economic growth, livelihood and prosperity of Pakistanis all around the world.NBP over a couple of years is equally playing a major role in helping the growth of home remittances to Pakistan through its streamlined and trusted services, said Khalid Bin Shaheen, Senior Executive Vice President and Group Chief, GHRMG and Chairman, ...

President grants prisoners special Eid remission ISLAMABAD: On the advice of Prime Minister Muhammad Nawaz Sharif, President Mamnoon Hussain on Wednesday granted special remission in sentences to convicts of different categories on the occasion of forthcoming Eid-ul-Fitr 2015.According to a press statement, special remission of three months has been granted to the prisoners convicted for life imprisonment except those convicted for heinous crimes including murder, espionage and anti-state activities, sectarianism, rape, robbery, dacoity, kidnapping and terrorist acts.A special remission has been ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln