Tag: Percent

KARACHI - The Karachi Stock Exchange (KSE) has revised upwards its current advance rates of taxes by 15 percent after a recent presidential ordinance levied 15 percent surcharge on the payable taxes. A KSE notice (KSE/N-1544), which was issued by KSE Acting Managing Director Haroon Askari, informed KSE members that it would collect 15 percent more advance taxes on the purchase value, sale value, trade value and in respect of financing the carry over trade of the traded shares from

KARACHI - Deterioration in economic indicators like broad money supply (M2) is indicative of the fact that inflationary pressures will remain unabated in Pakistan in the foreseeable future. State Bank of Pakistan (SBP) statistics highlight that monetary expansion in the country continues to be alarmingly high as government bank borrowing mounts and a higher number of net foreign assets (NFA). The provisional data released by the State Bank reveals that Broad Money (M2), an economic

KARACHI - Net foreign investment in Pakistan rose 27 percent to $1.23 billion in the first eight months of the 2010/11 fiscal year, because of a sharp rise in foreign portfolio investment, the central bank revealed.
Foreign investment was $969.5 million in the same period last year. Foreign Direct Investment (FDI) fell 21.8 percent in the July-February period to $989.6 million, from $1.26 billion in the same period last year, the State Bank of Pakistan said.
A shaky security

ISLAMABAD - The Sensitive Price Indicator (SPI), for the week ending on March 10, for the lowest income group up to Rs 3,000, has registered increase of 0.59 percent over the previous week. The SPI for the week under review in the above mentioned group was recorded at 299.36 points compared to 297.61 points registered in the previous week, according provisional figures of Federal Bureau of Statistics (FBS). The weekly SPI has been computed with base 2000 2001=100 covering 17 urban

KARACHI - Pakistan's refinery throughput dwindled 6.3 percent to 5.1 million tonnes in February 2011, primarily because of a month-long plant closure of PARCO and operational issues for BYCO and PRL triggered by circular debt. However, refinery production stood at 673,000 tonnes in the stated period - exhibiting a massive annual rise of 20 percent. In addition, capacity utilisation hit a 14 months high, standing at 76 percent - a reflection of rejuvenated refinery margins. Improved

ISLAMABAD - The government announced a 9.9 percent increase in prices of petroleum products across the board on Monday to lower its fiscal deficit and said it would still have to absorb a differential of Rs 5 billion in March alone because it was not passing on the full impact of the price increase to consumers.
Oil and Gas Regulatory Authority Senior Executive Director of Finance Syed Jawad Naseem said that the price of petrol had been increased by Rs 7.23 per litre from Rs

ISLAMABAD - The government has managed to curtail the budget deficit at 2.9 percent of the Gross Domestic Product (GDP) or Rs 490.3 billion during the first six months of the current fiscal year.
According to fiscal operations data for the first half, July-December, of the current financial year (FY 2010-11) released by the Ministry of Finance on Monday, total expenditure rose 8.6 percent of GDP or Rs 1480 billion compared to a total revenue growth of 5.8 percent of GDP or Rs

ISLAMABAD - Pakistan has exported 153,543 animals in the current fiscal year, thus increasing meat export by 15 percent, Minister for Religious Affairs Syed Khursheed Ahmad Shah said on Friday.
Replying to a question raised by PML-N's Shireen Arshad Khan in the National Assembly, he said that exported animals included 48,680 cattle, 50,000 buffalos, 54,716 goats and 147 camels.
In order to facilitate and encourage livestock export, the government decided that no permit was

KARACHI - The Karachi Electric Supply Company (KESC) increased its revenue collection by 25 percent through 'various methods' during a six-month period ended December 31, 2010.
Insiders told Pakistan Today that over billing, average billing and longer duration of load-shedding are the key factors behind the drastic increase in collections during the six months as the power utility adopted several methods to control losses at the expense of its over two million consumers.