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TAHIR AMIN ISLAMABAD: The Ministry of Textile Industry has demanded Rs 30 billion in budget 2012-13 for taking different initiatives that were integral part of the textile policy (2009-14), informed sources revealed to Business Recorder. Sources said the Ministry had demanded Rs 35 billion in the budget 2011-12, but the government released merely Rs 7.5 billion due to which initiatives announced in the textile policy could not be implemented. Now again the Ministry has demanded Rs 30 billion for different schemes under the textile policy including Textile Investment Support fund, drawback of local taxes, refund of past Research and Development (R&D) claims, mark-up rates and magnetization of Purified Terephthalic Acid, revealed sources, adding that government provided no subsidy to the textile industry in the last budget. The government had announced Rs 42 billion for textile export promotion under the textile policy in the budget 2010-11 of which 67 percent was to be spent on ...

RECORDER REPORT ISLAMABAD: The Oil and Gas Development Company Limited (OGDCL) has further reduced its base stock price of LPG by Rs5,000 per ton due to what it says reduced purchase by the marketing companies and dealers. With this reduction, the price of LPG’s domestic cylinder has reduced by Rs65 and commercial cylinder by Rs225. The decrease would be implemented immediately. According to a notification issued on Friday, OGDCL’s new base stock price is Rs65,000 per ton exclusive ...
ISLAMABAD: President Asif Ali Zardari Friday gave assent to two Bills to empower the Securities and Exchange Commission of Pakistan to make regulations and for establishment of NFC Institute of Engineering and Technology Multan. The President gave the assent on the advice of Prime Minister Syed Yusuf Raza Gilani to the Modaraba Companies and Modaraba (Floatation and Control) (Amendment) Bill 2012 and the NFC Institute of Engineering and Technology Multan Bill 2012. The Modaraba Companies Bill seeks ...
LAHORE: Environment Protection Department (EPD) of the City District Government Lahore issued notice to an industrial unit to redress grievances of the residents on Friday. According to EPD sources, a chemical manufacturing unit in the area of Havailian Stop, Ferozpur Road is working in residential area without having management system causing noise and air pollution due to which the residents of the area were feeling unwell. On the complaint of residents, the EPD authorities, under section 146-2 ...
KARACHI: Shipping activity remained active at Port Qasim during the last 24 hours, where two ships carrying containers and furnace oil were allotted berth at Qasim International  Containers Terminal and FOTCO Terminal on Wednesday, a statement of the port said Thursday. Three more ships scheduled to load/ offload containers and coal also arrived at outer anchorage of Port Qasim during the last 24 hours. Berth occupancy was 55% at the Port on Thursday where total number of ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln