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Pakistanâ€™s forex reserves fall to $13.474 billion

Source: Dawn News | 08-02-2013

Pakistan’s foreign exchange reserves dropped to $13.474 billion in the week ending Feb 1, from $13.549 billion in the previous week, the central bank said on Thursday.

Remittances from Pakistanis abroad rose 12.51 percent to $7.116 billion in the first half, July to December, of the 2012/13 fiscal year, from $6.325 billion in the same period last year.

Copious corruption clutches SBCA completely

Source: The Nation | 10-01-2013

Sindh Building Control Authority (SBCA) has busted all previous records of corruption.The tall claims of Director General, Sindh Building Control Authority are just the mere statements. Hardly, a single project in the city fulfill the requirement of the SBCA while mostly officials in all 18 towns considering the SBCA as an easy money-minting depart..... Read more

China, Brazil sign local currency trade deal

Source: Dunya News | 27-03-2013

As the five-nation BRICS forum of emerging market powers work to lessen dependence on the U.S. dollar and euroFinance ministers Lou Jiwei of China and Guido Mantega of Brazil signed the agreement ahead of the official opening of a summit of the leaders of Brazil, Russia, India, China and South Africa. It is Chinese President Xi Jinping s first official ..... Read more

Govt unlikely to get $2.1b non-tax money

Source: The Nation | 16-01-2013

The financial maladies of the cash-starved government would multiply in the months to come due to unlikely foreign inflow of worth $2.1 billion under various heads, lower revenue collection and high power subsidy that would increase the budget deficit of the country, it was learnt on Tuesday. Sources said that budget deficit would go beyond the targ..... Read more

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