Exports at the conclusion of Fiscal Year 2010-11
Though a major increase in the current exports of Pakistan can be attributed to a hike in cotton price in the international market resulting in a record increase in exports which are…
KSE at the conclusion of fiscal year 2010-11
The conclusion of fiscal year 2010-11 on Thursday witnessed what market participants dubbed: the ‘artificial’ benchmark. KSE 100-share index, gained 29 per cent, including dividends, against last financial year. Terming FY11 a…
Prices jumped by 13.9% in last fiscal year
The hike in fuel and electricity prices pushed up the consumer prices to 13.9 percent on year-on-year basis, says the data released by the Federal Bureau of Statistics (FBS) on Saturday. FBS…
KSE powers into fiscal year 2011-12
With the curtains drawing on FY11, the bulls led today’s trading session as the index climbed 72 points to close at 12,496 points. News of a proposed 100 percent increase in feedgas…
Traders cautious as fiscal year ends
Benchmark 100 witnessed mild correction after gaining 340 points in the previous three consecutive sessions backed by buoyant investor sentiments. Index closed at 12,464 levels after shedding 45 points with dreary volumes…
Power tariff may go up by 6% in next fiscal
The government is likely to increase power tariff by up to 6 percent during the next fiscal year to bridge the gap between the determined and applied tariff to do away with…
No new health scheme in upcoming fiscal year
The provincial health sector will not have any new development scheme in the next fiscal year, as the Health Department has not proposed any such plan for the upcoming budget, Pakistan Today…
Govt misses all fiscal targets
While admitting that the government had failed to achieve all of the key economic targets for the current fiscal year, Finance Minister Dr Abdul Hafeez Shaikh claimed on Thursday that per capita…
Power subsidy of Rs 120b assessed for next fiscal year
With the power subsidy escalating to Rs 128 billion during the July-May period of the current fiscal year the government has worked out a power subsidy to the tune of Rs 120…
GDP growth falls to 2.4% in current fiscal
The gross domestic product (GDP) growth rate fell to 2.4 percent, almost half of the projected target of 4.5 percent, tax revenue in the first 10 months amounted to Rs 1,156 billion…
Rs 3.85tr budget set for next fiscal
The government has set the size of next fiscal year’s consolidated budget at Rs 3.85 trillion, as compared to Rs 3.39 trillion for the current fiscal, with the federal budget set at…
MQM wants its fiscal input included in federal budget
The Muttahida Qaumi Movement has agreed to rejoin the federal cabinet on condition that the government include maximum of its input on fiscal matters in the forthcoming federal budget. Another condition put…
Expect no subsidy in upcoming fiscal year
The National Assembly Standing Committee on Finance was told on Wednesday that the government was aiming to end all subsidies in the next fiscal year. Pakistan People’s Party (PPP) MNA Fauzia Wahab,…
India’s C-bank announces new FY12 WMA limits
India’s central bank issued fresh limits for the federal government to borrow from the bank under Weighs and Means Advances (WMA) for the financial year 2011-12 starting April. The Reserve Bank of…
Centre too lazy, Larkana Industrial Estate gets fiscal patronage from Sindh
KARACHI – Disappointed with the Centre’s reluctance to ensure smooth funding for the Larkana Industrial Estate (LIE), the Sindh government has decided to set aside Rs 2.40 billion in its fiscal budget 2011-12 in an attempt to ensure that the project sees the light of day, Pakistan Today has learnt. The LIE project came into existence soon after the Pakistan People’s Party (PPP) accede to power, with President Asif Ali Zardari envisioning the scheme in slain party chairperson Benazir
Tax reform failure renders fiscal imbalance untenable: SBP
KARACHI – The State Bank of Pakistan (SBP) has said that the failure of tax reforms programme and the flood relief expenditures have rendered the fiscal imbalance of Pakistan unsustainable. The SBP issued this stunning disclosure in its second quarterly report for 2010-11.
The report said that although fiscal indicators showed some improvement in the second quarter of FY11 with substantial growth in non tax revenues, the overall fiscal position during H1-FY11 deteriorated.
NIT announces results for 1st half of fiscal year 2011
KARACHI – National Investment Trust Limited has announced the results of all funds under its management for the half year ended on December 31, 2010. This was stated by the Chairman and MD Wazir Ali Khoja in an issued press release.
During 1HFY11, NI(U)T has registered a phenomenal growth of 143 percent in net profit (excluding unrealised figures), which increased to Rs 2,762 million (earning per unit of Rs 2.35) from Rs 1,135 million in 1HFY10 (earning per unit of Rs 1.09).