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Pakistan facing $1bn loss per month due to not importing LNG: Dr Asim  ISLAMABAD: Minister for Petroleum & Natural Resources Dr Asim Hussain on Friday said that the country was facing a loss of US $ one billion per month due to not importing Liquefied Natural Gas (LNG). Addressing a joint press conference here at the ministry of petroleum and natural resources, the minister said that vested interests were the major hurdle in importing LNG and that was the reason that the government was moving ahead on importing LNG "cautiously". He said that the government was also moving ahead on Iran- Pakistan (IP) gasline project despite international pressures while the government was also completing TAPI to fulfill the gas shortage. He said that the government had decided to evaluate petroleum and CNG prices on a fortnightly basis and if this experience proved successful in three months, this evaluation would be made on weekly basis. He also urged media to observe responsibility as due to irresponsible reporting, investors ...

Business community welcomes cut in petroleum price  KARACHI: The business community has appreciated the government's decision of reducing petroleum prices saying it will help cut the cost of doing business. It will also help in reducing the cost of electricity generation through captive power plants and standby generators used by the industry for trading-off power shortages. This was stated by Eng. M.A. Jabbar, former Vice President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), former Chairman of SITE Association of Industry and the ...
Pakistan-Australia review defence cooperation  ISLAMABAD: Pakistan and Australia Thursday reviewed their defence cooperation and the general direction and scope of Australia's development assistance programme for Pakistan. The 2nd session of Pakistan-Australia Bilateral Consultations was held in Canberra which was attended by Foreign Secretary Jalil Abbas Jilani. The Foreign Secretary also held meetings with Stephen Smith, Minister of Defence,Peter Baxter, Director General, AusAID and Dr. Margot McCarthy, National Security Adviser, said a statement issued by foreign office here Thursday. During his meeting with ...
NA approves Rs. 962,914,448,000 for Ministry of Finance  ISLAMABAD: The National Assembly on Thursday approved 23 demands of grants worth Rs. 962,914,448,000 for Ministry of Finance, Revenue, and Planning & Development for the fiscal year 2012-13. The demands of grants presented to the House by Finance Minister Dr. Abdul Hafeez Shaikh included Rs. 950,000,000 for the Federal Government to meet expenditures in respect of Finance Division, Rs. 3,386,480,000 in respect of Controller General of Accounts and Rs. 316,878,000 in respect of Pakistan Mint. While the ...
NA approves Rs170,399,536,000 for Cabinet Secretariat  ISLAMABAD: The National Assembly on Thursday approved 17 demands of grants worth Rs. 170,399,536,000 for Cabinet Secretariat for the fiscal year 2012-13. The demands of grants presented to the House by Finance Minister Dr. Abdul Hafeez Shaikh included Rs. 191,414,000 for the Federal Government to meet expenditures in respect of Cabinet, Rs. 3,289,899,000 in respect of Cabinet Division, Rs. 204,664,000 in respect of Emergency Relief and Repatriation, Rs. 6,492,281,000 in respect of other expenditures of Cabinet ...
Forex reserves further slips to $15.417bn  KARACHI: The country's foreign exchange reserves have plunged by $ 119 million to around $ 15,417 billion as on June 8, 2012 on foreign payments. According State Bank of Pakistan here Thursday, the foreign exchange reserves held by the Central Bank decreased to $ 11.117 billion while reserves held by banks improved to about $ 4.300 billion during the week. Copyright APP (Associated Press of Pakistan), 2012 ...
NA approves 151 demands worth Rs2.077trn  ISLAMABAD, June 14 (APP): The National Assembly Thursday approved 151 demands for grants of 40 ministries and departments amounting to Rs 2,077,644,405,000 amidst uproar by the opposition members. Minister for Finance Abdul Hafeez Shaikh and Minister for Textile Industry Makhdoom Shahabuddin moved the demands, which were approved by the members with majority voice vote. After winding up discussion, the House completed first stage of the budget passage by putting all demands for grants to voting to meet ...

 



 
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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 $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 15, 2014
Reserves $13.414 bln