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Pakistan, IMF talks conclude

Source: Geo News | 04-07-2013

ISLAMABAD: Pakistan and International Monetary Fund (IMF) concluded negotiations on fresh bailout package and Islamabad will formally request for loan in the evening today (Thursday), Geo News reported.

Spokesman for the finance minister said Pakistan is borrowing on its on conditions, adding they remained firm on their stance in the dialogue with the IMF for not imposing new taxes.

Pakistan, however, accepted to raise power tariff in the talks.

Pakistan and IMF officials will address a joint press conference today.

CAA cancels bidding process

Source: The Nation | 07-02-2013

The Civil Aviation Authority (CAA) has now cancelled the bidding process, which it had initiated earlier, for awarding contract for supplying fuel to the aeroplanes at New Islamabad International Airport. So it is feared that commercial flights from the airport would not start in 2013 and might be delayed by more than one and a half years. PSO, a state ow..... Read more

OGDCL converts 3,052 workers as daily wagers

Source: The Nation | 12-02-2013

Oil and Gas Development Company Limited (OGDCL) in a bid to provide maximum benefit to its majority of local workers, on Monday converted 3,052 third party workers on daily wages basis who were serving the organisation for last many years. According to a handout, OGDC has two categories of employees, officers and workers. There are nine grades for officer..... Read more

Dollar slumps against yen in Asia

Source: GEO News | 13-06-2013

TOKYO: The dollar slumped to a 10-week low against the yen in Asia Thursday as dealers ran for cover in the face of tumbling stock markets and concern the US central bank will soon end its massive stimulus programme. The greenback bought 93.98 yen in Tokyo afternoon trade, down from 95.88 yen in New York late Wednesday and from the high 98-yen range ..... Read more

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