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Pakistan stocks close higher on successful IMF talks

Source: Geo News | 03-07-2013

KARACHI: Karachi Stock Exchange closed higher on Tuesday drawing strength from a successful conclusion of Pakistan-IMF talks.

The benchmark 100-share index jumped 1.32 percent or 281.01 points to close at 21,644.17.

Pakistan Telecommunication Co Ltd rose 4.96 percent to Rs23,27 while DG Khan Cement Co Ltd vaulted by 3.04 percent to end at Rs88.38.

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

Business Express: Auditors question contract changes, suspect revenue slippages

Source: Tribune | 07-02-2013

Federal auditors have questioned the rationale behind the Economic Coordination Committee’s decision to amend a contract awarded to a private concern for operating the Business Express train service, believing it will cause a loss of Rs2 billion to the national exchequer over a period of five years. In a meeting of the Public Accounts Committee (PAC..... Read more

Budget-making: Govt allocates Rs103b for water and power projects

Source: Tribune | 10-04-2013

In the midst of a severe energy crisis, the water and power sector had been allocated a developmental budget of Rs103 billion for next year, which is 34% higher than the allocation for the current fiscal year, but still the ceiling fell short of expectations of executing agencies. The combined budget offered to the Ministry of Water and Power and Water an..... Read more

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