Tag Archives: Domestic

Govt to focus on domestic, international market transactions

Govt to focus on domestic, international market transactions

ISLAMABAD – The sub committee of the Cabinet Committee on Privatisation will be briefed on issuing equity-linked instruments in Public Sector Entities (PSEs) today. The Minister for Privatisation Syed Naveed Qamar chaired a meeting of investment banks and business groups to review the capital market transactions on Thursday, an official statement indicated.
The minister said that they were at a reasonable point to start focusing on domestic and international market transactions

‘No load-shedding for domestic consumers’

LAHORE – No load shedding is being carried out for domestic consumers, as the power shortfall has decreased, Pakistan Electric Power Company (PEPCO) Energy and Management Conservation (EMC) Director General Muhammad Khalid said on Tuesday at a press conference.
He said that presently power production stands at 10,826MW and demand 11,227MW while power shortfall is 401MW. Khalid said that the power shortfall has decreased over the last few days due to better production and less

Domestic borrowing 79.4pc of deficit

KARACHI – The State Bank of Pakistan (SBP) has said that the domestic borrowings financed 79.4 percent of the budgetary deficit that amounted to Rs 276 billion in the first quarter of FY11. Given the lack of adequate external assistance, domestic sources contributed a hefty 79.4 percent share in deficit financing during the July-September period of FY11.
Specifically, a little less than half of total financing requirements were met through deficit monetisation during the first

Domestic debt hits Rs 5.5 trillion

KARACHI – Pakistan’s domestic debt hit the mark of Rs 5.50 trillion in December 2010 because of the government’s borrowing policy. In September 2010, the government’s domestic debt and liabilities amounted to Rs 5.191 trillion, which shot up to Rs 5.5 trillion in December 2010, showing an increase of Rs 306 billion in just three months.
On a year-on-year basis the domestic debt showed an alarming growth of Rs 1.05 trillion from December 2009 to December 2010. In December 2009,

PCB to introduce video recording in domestic matches

LAHORE – The Pakistan Cricket Board will introduce a system of video recording in domestic matches to deal with the growing problem of indiscipline and sub-standard umpiring. Head of the PCB’s domestic division Sultan Rana said that their were plans to install two video cameras and an analyst would operate them at every centre where first class and national one-day cup matches are played.
“It is true we have got a lot of reports from the umpires and team captains blaming each

PIA owes Rs 139,614m in foreign, domestic loans

ISLAMABAD – Defence Minister Ahmad Mukhtar on Monday informed the Lower House of parliament that the state-run-airliner owed Rs 139,614 million on account of domestic and foreign loans as of November 30, 2010.
In a written statement, the minister said it was a common practice for airlines globally to acquire aircraft fleet on credit or lease (project financing). In line with this practice, the PIA had also financed its acquisition of Boeing 777 fleet, ATR fleet and Airbus A-310

Private airlines to serve domestic routes for 3 yrs

ISLAMABAD – The Ministry of Defense on Wednesday told the Standing Committee of the Senate on Defense and Defense Productions that prior to permission of operating internationally, three years of domestic operation will be compulsory for private airlines.
“The three years domestic operation is an evaluative period as it will help the ministry to ascertain that a airline seeking permission of international operation is able to ensure the safety of the passengers, technical

MINFA directed to conduct more domestic cotton research

ISLAMABAD – Expressing dissatisfaction over the state of cotton research, the National Assembly Standing Committee on Agriculture on Friday directed the Ministry of Food and Agriculture (MINFA) to pursue an indigenous cotton research programme, instead of looking on the United States to help in this regard.
The meeting of the committee was held under the chairmanship of Javed Iqbal Warriach. MINFA officials briefed the committee that the government was aiming to increase cotton

Domestic gas shortage to intensify

LAHORE – Gas supplies to industries and CNG stations will be restored from today and domestic users will suffer a further gas shortage, Sui Northern Gas Pipelines (SNGPL) sources told Pakistan Today. Gas supply remained suspended in the city while gas pressure for domestic users in many areas remained very low on Tuesday.
SNGPL sources said the situation will worsen for domestic users, as industry and CNG stations will be facilitated. They said domestic users were already not

ICCI calls for boosting domestic investment

ISLAMABAD – The Islamabad Chamber of Commerce and Industry (ICCI) said that special emphasis would be placed on identifying barriers that discourage investment in Pakistan while onus should be placed upon domestic investment in a concerted effort to drive economy out of recession.
“Domestic investment is one of the major determinants in sustainable long-term economic growth but Pakistan’s domestic challenges are driving investors away,” ICCI President Mahfooz Elahi said while

Too much domestic football: Blatter

BERNE – FIFA president Sepp Blatter has said there is too much domestic football, potentially putting himself on collision course with European clubs who last year complained about the international fixture list. Blatter also said he wanted only professional referees to officiate at the 2014 World Cup in Brazil and admitted that women’s football was struggling to progress. Last year’s World Cup in South Africa came at the end of a long season and a number of leading players performed

Domestic violence shrinking, minister tells NA

ISLAMABAD – The National Assembly was informed on Wednesday that due to government’s efforts, the country saw a downward trend in cases of domestic violence and only 5,404 such cases were registered in the years 2009 and 2010.
In response to a question, Minister for Human Rights Mumtaz Alam Gillani told the House that in 2008, the cases of domestic violence were far more than those registered in two following years.
“In order to curb the offense, the government is creating

Onion exports to India ramp up domestic prices

LAHORE: Onion prices in the provincial metropolis have peaked at between Rs 80 to Rs 90 per kilogram in retail markets. Vegetable dealers claim that onion export to India through Wagha border has reduced local stocks and pushed up the price of the essential commodity in vegetable markets.
Vegetable vendors at Badami Bagh wholesale market said that the Punjab was already facing a vegetable shortage of around 30-40 percent owing to heavy flooding this year and vegetable exports to

Low gas pressure for domestic connections

LAHORE: Gas pressure for the domestic users remained low on Tuesday because of uninterrupted gas supplies to the industries, said Sui Northern Gas Pipelines Limited (SNGPL) sources. Citizens’ problems magnified as they could not cook food because of low gas pressure.
The domestic consumers said their interests were not being safeguarded by the provincial government. The domestic consumers in Multan Road, Kotlakhpat, Township, WAPDA Town, Baghbanpura, Misri Shah, Shadbagh, Iqbal

Legislation against domestic violence in limbo

ISLAMABAD: Contrary to its claims to providing equal rights to the women, the government has done little, as legislation against the domestic violence is still a distant dream.
The government took six years (previous and incumbent) to draft a piece of legislation to curb domestic violence and got the Domestic Violence (Protection and Prevention) Act passed by the National Assembly in August last year but the Bill lapsed as the Ministry of Law and Parliamentary Affairs could not

Domestic debt expands by Rs 813 billion in one year

The country’s domestic debt has risen by Rs 813 billion (20 percent) over the last year, indicating massive borrowings by the government to control the widening fiscal deficit.
The domestic debt stood at Rs 4.05 trillion in August 2009, but expanded to Rs 4.863 trillion by August 2010.
In the first two months of this fiscal year, the domestic debt expanded by Rs 211 billion or 4.53 percent, mounting to Rs 4.863 trillion, the highest-ever mark in the country’s