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Govt announces Rs1.3bn Ramzan Package ISLAMABAD: The government has announced Rs. 1.3 billion Ramzan Relief Package in order to provide quality essential commodities on subsidized rates during Ramazan.It is aimed at ensuring relief to people who will get these items on lower rates in holy mont as compared to the open market.Addressing a press conference on Thursday, Minister for Industries and Production, Ghulam Murtaza Jatoi said that under the package 18 daily used items would be provided on subsidized rates through Utility Stores Corporation (USC) network across the country.The USC, he said would also provide more than 1000 quality items on 5-10 percent discount rates as compared to retail market prices during the holy month for the relief of the masses, specially the poor segment of the society.The Minister recalled that Prime Minister Muhammad Nawaz Sharif had initiated the Ramzan Package during 1991 and after that all governments had followed it.This time despite financial constraints, ...

No power outage during Sehr, Iftar, Traweeh: Khawja Asif ISLAMABAD: Minister for Water and Power, Khawja Asif on Thursday announced new timetable of load-management during holy month of Ramazan by ensuring uninterrupted supply of electricity to consumers during Sehr, Iftar and Traweeh.Addressing a press conference here, he said that Prime Minister Nawaz Sharif has directed to ensure hassle-free power supply to the consumers at `Iftar' and `Sehr' during the holy month of Ramazan.The Minister said that the power supply to industries will be suspended ...
Three nabbed on charges of Rs.120 mln corruption: NAB ISLAMABAD: The National Accountability Bureau (NAB), Karachi has arrested three persons for their alleged involvement in corruption worth Rs.120 million.The accused including former Tehsil Municipal Officer (TMO), Rehmatullah Memon, TMO (Current), Zahoor Ahmed Shahani, Engineer of Town Municipal Authority Sehwan, Idrees Memon and others committed corruption through withdrawal of illegal cheques and issued huge amounts to fake contractors and parties.The accused falsified accounts, made fake purchases, paid salaries to ghost employees and no work was ...
Chairman NAB seeks report on alleged corruption in AIOU ISLAMABAD: Chairman, National Accountability Bureau (NAB), Qamar Zaman Chaudhry on Thursday took serious notice of alleged corruption of Rs. 2.5 billion in Allama Iqbal Open University (AIOU), Islamabad.As reported in the media, former Vice Chancellor (VC) of AIOU Islamabad, Nazeer Ahmad, former Registrar Muhammad Bashir, Head of Physics Department, Dr. Zafar Ilyas and Dr. A. Naeem of Social Sciences Department were found involved in alleged corruption.The accused persons made money from development work, transport, recruitment ...
Six references filed in Rs.22bn Modarba scam: DG NAB ISLAMABAD: National Accountability Bureau (NAB) has filed six references in Rs. 22 billion Modarba and Musharka scam and recovered Rs.1.73 billion besides properties and vehicles.The Bureau has also arrested 32 accused persons so far in the scam, Director General NAB, Zahir Shah said this while addressing a seminar on Budgetary Allocation and Role of Anti- Corruption Agencies here.He said the Bureau under leadership of its Chairman, Qamar Zaman Chaudhry has chalked out a comprehensive strategy ...
One arrested in pension scam: NAB ISLAMABAD: National Accountability Bureau (NAB), Khyber Pakhtunkhwa (KPK) on Thursday arrested Habib-ur-Rehman (absconder), a private person in pension scam of Education Department.The accused person allegedly posed himself as fictitious teacher with assumed name of Muhammad Farooq and provided his photographs and signed/affixed his thumb impression on pension payment order and looted millions of rupees from national exchequer in league with others.During course of inquiry, it was revealed that accused with the help of forged and ...
Ramzan moon not sighted, first Ramzan on Friday KARACHI: Chairman, Central Ruet-e-Hilal Committee Mufti Munib-ur-Rehman announced here on Wednesday that the Ramzan-ul- Mubarik moon has not been sighted, therefore the 1st of Ramzan will be on June 19.No evidence of sighting of the moon was received from any part of the country, he added.The meeting of the committee was held at the building of Pakistan Meteorological Department which was also attended by the other members of the committee.Copyright APP (Associated Press of Pakistan), ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln