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PSM gets first installment of Rs1.5bn fresh bailout package

Source: Geo News | 23-09-2013

KARACHI: Pakistan Steel Mills (PSM) has received first installment of the new bailout package, Geo News reported.

Spokesman for Pakistan Steel said the PSM has received an amount of Rs1.5 billion.

The spokesman further said Pakistan Steel will spend Rs1 billion on the payment of two months salaries of employees, adding the salary would be released on Monday or Tuesday.

The government had approved Rs2.9 billion bailout package for the Pakistan Steel earlier this month.

India's rupee hits new low against dollar, stocks slump

Source: GEO News | 20-06-2013

MUMBAI: India's rupee hit a new low against the dollar on Thursday after the US Federal Reserve said it could start to reduce stimulus measures for the US economy. The rupee hit 59.93 in morning trade, well below its previous record low of 58.98 reached last week in part on growing concern about India's economic weakness. Indian shares also fell mo..... Read more

ARH providing medical services to all segments equally

Source: The Nation | 21-01-2013

Dispelling the impression of giving costly healthcare services affordable only for elite, Director Commercial Strategy and Development Al Razi Healthcare Dr Aamir Mehmood claimed that the institution of Dhabi Group was reaching out to all four classes without compromising on quality and satisfaction of patients. Talking to TheNation, he said that th..... Read more

Dilapidated foreign reserves may further erode

Source: The Nation | 05-04-2013

Pakistan’s foreign exchange reserves have declined to $12.202 billion on March 29, which would further reduce in the last quarter (April to June) of the ongoing financial year 2012-13 mainly due to the repayment to the International Monetary Fund (IMF). The foreign exchange reserves held by the central bank stood at $7.128 billion and commercial ban..... Read more

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