02092016Tue
Last update: Tue, 09 Feb 2016 12pm

Banking & Finance

Pakistan - Banking & Finance

Ministry of FEPT Rs13.48bn allocated for 13 projects during 2013-15 ISLAMABAD: The ministry for Federal Education and Professional Training (FEPT) has initiated 13 new development projects at a cost of Rs. 13.48 billion in fiscal year 2013-15.The amount included Rs. 1.067 billion for 113 PhD scholarships and 259 short term trainings for Human Resource Development, official sources informed here on Tuesday.Giving province vise details they told APP that 55 PhD scholarships and 24 trainings were approved for Punjab followed by 33 scholarship awards for Khaber Pakhtunkhwa.10 awards were given to Sindh with 10 trainings, Balochistan nine scholarships with 225 trainings while four and two scholarships were given to Federal Capital and Gilgit Baltistan respectively.They informed that for the financial year 2013-14, federal Government allocated an amount of Rs. 39.000 billion to Higher Education Commission on account of annual recurring grant to public sector universities and for National Research programs.Out of the total allocation, Rs. 32.435 billion were allocated as annual ...

Pakistan - Banking & Finance

Govt released over Rs242.215bn for developmental projects ISLAMABAD: The government has released over Rs 242.215 billion for different social sector developmental projects under Public Sector Development Programme (PSDP) 2015-16 as against the total allocation of Rs 700 billion.According to latest data released by the Planning Commission of Pakistan, government has released Rs 29.316 billion for infrastructure and development projects under National Highway Authority (NHA) as compared to the total allocation of Rs 159 billion for FY 2015-16.Under PSDP Rs 53.637 billion has ...

Pakistan - Banking & Finance

Several key macro indicators record improvement: SBP report ISLAMABAD: The country's economy did reasonably well during FY15, in contrast to a number of other emerging economies that are facing slower economic growth.The State Bank of Pakistan in its annual report released on Friday said that the real GDP growth increased to 4.2 percent in FY15, and key macroeconomic indicators like inflation, fiscal balance and current account balance recorded improvements. The report titled State of the Economy 2014-15 emphasized on the improvement in the ...

Pakistan - Banking & Finance

National Savings collected Rs115bn till Dec 07 ISLAMABAD: The Central Directorate of National Savings (CDNS) has collected Rs.115 billion as against the proportionate target of Rs.132 billion till December 07, during the current fiscal year (2015-16).An official of the CDNS informed APP here on Friday,the estimated target of the national savings for the year 2015-16 has been set for Rs. 302 billion.Likewise, he said during the first quarter of current fiscal year, the CDNC collected Rs. 82 billion as against the proportionate ...

Pakistan - Banking & Finance

Workers' remittances rise by 7.5pc in five months of FY 2015-16 KARACHI: Overseas Pakistani workers remitted dollars 8.098 billion in the first five months (July to November) of fiscal year 2015-16; showing a growth of 7.57pc compared to $ 7.528 billion received during the same period in the preceding year.During November 2015, the inflow of workers' remittances amounted to $ 1591.75 million, which is 3.36pc higher than October 2015 and 18.45pc higher than November 2014, said a statement issued by State Bank of Pakistan (SBP) here ...

Pakistan - Banking & Finance

Pak forex crosses US $20bn KARACHI: The total liquid foreign exchange reserves of the country stand at US $ 20.451 billion, said State Bank of Pakistan.According to SBP's weekly statement here on Thursday, the foreign reserves held by State Bank on Dec 4, amounted US $ 15,441.4 million and the net foreign reserves with other banks were US $ 5,009.5mn. During the week ending December 4, SBP's liquid foreign reserves increased by US $ 654mn to $ 15,441mn, compared to ...

Pakistan - Banking & Finance

Rs2.50bn to be spent on construction of 23 roads FAISALABAD: As many as 23 roads are being constructed in rural areas with an estimated cost of Rs 2.50 billion in the division.According to official sources, Rs 992 million is being spent on construction of eight roads in rural areas in the district while a sum of Rs 416 million would be spent on eight roads in Jhang.The funds of Rs 464 million would be spent on six roads and Rs 177 million is being ...