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Forex reserves surge to $13.782b

Source: The Nation | 18-01-2013

Country’s foreign exchange reserves surged by $123.6 million to around $13.782 billion as on January 11, 2013.

According to State Bank of Pakistan here on Thursday, the foreign exchange reserves held by the central bank improved to $8.951 billion while reserves held by banks stood at about $4.831 billion during the week

Ogra stopped from issuing notification

Source: The Nation | 13-02-2013

Despite court orders declaring GIDC Act, 2011 as illegal, petroleum ministry has now stopped Ogra from issuing a notification of decrease in CNG prices resultantly the consumers would be deprived of getting a relief up to Rs16.56/kg. Islamabad High Court (IHC) on 31-01-2013 in a decision on GIDC said, “Gas Infrastructure Development Cess Act, 2011 i..... Read more

Govt may revise up deficit target

Source: The Nation | 04-01-2013

Keeping in view the massive revenue shortfall in first six months, the government is likely to revise up the budget deficit target for the ongoing financial year 2012-2013 from current 4.7 per cent of the GDP to 5.3 per cent, it was learnt on Thursday. Sources informed that Federal Board of Revenue would ask the Finance Ministry to revise down ..... Read more

Oil extends losses on weak US demand

Source: Geo News | 22-10-2013

US crude oil prices stayed below $100 in Asian trade Tuesday as investors digested a steep increase in stockpiles following slow refinery activity, analysts said. New York's main contract, West Texas Intermediate (WTI) for delivery in November, was down 21 cents at $99.01 a barrel in mid-morning trade, extending its slide after sinking to three-month l..... Read more

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