Tag: Percent

KARACHI - Drilling by the oil and gas exploration companies in Pakistan has slowed by 32 percent in the first half of the financial year 2011, despite government's focus to tap more indigenous energy resources.
A meagre 19 wells have been drilled as compared to 28 in the last corresponding period and the number is inclusive of both exploratory and development wells. This hampered drilling activity could reduce the much needed future of oil and gas production.
According to

KARACHI - Pakistan Oilfields Limited (POL) is likely to earn a profit after tax (PAT) of Rs 5,165 million with earnings per share of Rs 21.84, a phenomenal 56 percent annual rise. This massive rise is largely driven by an annual rise in oil and gas production of 12 percent and 82 percent respectively.
Net revenue of the company is estimated to rise by an annual 38 percent to Rs 11,294 million compared to Rs 8,173 million recorded in the same period last year. The phenomenal jump

LAHORE - Punjab will get a fifty percent share from the amount earned by Pakistan Railways property sale in the province. This was decided in the meeting of a special committee of the Public Accounts Committee (PAC) on Pakistan railways (PR) held on Saturday at PR headquarters.
The committee directed all the provinces to clear off railways outstanding payments within 30 days. Railway authorities were directed to get the railway land vacated from illegal possession. The committee

KARACHI - Based on provisional data, the country's refinery production in the first six months of the Financial Year (FY) 2011 (July-December) stood at 3.79 million tonnes, down nine percent annually. Moreover, GRM, a key determinant of profitability, in the second quarter of FY 2011 remained weak in quarterly terms, reflecting a poor outlook for the sector earnings in the second quarter.
Product wise analysis reveals that the decline is mainly attributed to a seven percent fall

ISLAMABAD - Federal Textile Industry Minister Rana Muhammad Farooq Saeed Khan has said that that textile exports picked up to and increased by 22.37 percent during the period from July to December 2010 compared to the same period in the last financial year.
Rana Farooq said that the prompt implementation of the textile policy chalked out in 2009 was steering the textile industry in right direction as can be seen in the sustained growth in textile exports in the last two years.

KARACHI - The country's commodity exchange market has witnessed robust growth of 561 percent or Rs 157 billion during 2010 as total traded volumes at the National Commodity Exchange Limited (NCEL) stood approximately at Rs 185 billion during the year.
Also, during the year under review the NCEL had marked the achievement of surpassing the combined trading volumes of the Lahore and Islamabad stock exchanges in a very short time.
According to NECL, the total volumes traded

ISLAMABAD - Cellular phone handset import in the country has witnessed a whopping growth of 213 percent in November 2010 as compared to same month of last fiscal year. Such imports have increased to $43.416 million in November 2010 compared to $13.869 million in the same month of 2009.
The significant increase in imports depicts the rise in demand in local markets to meet the consumers' needs in the different cities including flood-hit areas. Federal Bureau of Statistic's (FBS)

ISLAMABAD - Despite the damage done to agriculture production in the summer floods, the export of various food products registered an increase of 17.92 percent during last five months of the current fiscal year.
The export of rice increased by 11.86 percent during the period from July to November 2010 compared to the same period of 2009. About 1.3 million metric tonnes of the rice was exported from the country valued at $779.049 million. According to the data collected by the

KARACHI - The Pakistan Telecommunication Company Limited (PTCL) is expected to face a 17 percent decline in its admin expenses in the Financial Year 2012, while the consolidated operations, including Ufone's, the company reflected plausible growth prospects.
Under the agreed terms of Sales Purchase Agreement (SPA), Etisalat is allowed to charge technical service fee at 3.5 percent on the consolidated revenues of the company for a period of five years, commencing from October

LAHORE - The Lahore Development Authority (LDA) One-Window Cell resolved 87 percent public complaints received from its establishment in September to December 31. An LDA official said that the one-window cell had disposed of around 13,546 out of the total 15,575 complaints received.
LDA sanctioned around 1,021 building plans on 1,318 applications, extended building period for 815 plots on 928 requests and issued completion certificates on 166 out of 189 pleas received for this

ISLAMABAD - The Sensitive Price Indicator (SPI), for the week ended on December 30, for the lowest income group up to Rs.3,000, has registered an increase of 0.15 percent in comparison with the previous week.
The SPI, for the week under review in the above mentioned group, was recorded at 299.71 points as against 299.27 points registered in the previous week, according to figures revealed by Federal Bureau of Statistics (FBS). The weekly SPI has been computed with base

LAHORE - Transporters have announced a ten percent hike in bus fares nationwide, the decision was made after the increase ompetroleum prices, said Azam Khan Niazi, chairman of the All Pakistan Transport Owner's Association.
While speaking with Pakistan Today, Azam Khan said that the increase in petrol price has forced transporters to increase the fare of inter-city buses. Public said the increase in bus fare would add to their miseries. A hostelite Shahid said he had to travel

SYDNEY - Booming iron ore and coal exports boosted commerce between Australia and top trading partner China by 8.8 percent this year and more than trebled it over the past decade, data showed on Wednesday. The trade department said China remained Australia's largest export market with total shipments growing to $89.7 billion - 17.6 percent of total trade -over the 12 months to June.
"Over the last decade, the share of Australia's two-way trade in goods and services with China

KARACHI: Pakistan's export of Kinnow would be reduced by over 30 percent this year due to decrease in overall production, sources said. The process of exporting the fruit to Iran, Central Asian States, Middle East and some African countries has started but the markets in European countries and Russia could not be tapped by the exporters as quality standards were not up to the required level.
Another reason is the shortage of small sized Kinnows in the domestic market, which have

LAHORE: In order to control the rising inflation in the country, the State Bank of Pakistan (SBP) on Monday increased the discount rate from 13.5 percent to 14 percent.
The decision will take effect from Tuesday (today), the SBP decided in a meeting of its Central Board of Directors that was chaired by SBP Governor Shahid Hassan Kardar. The SBP showed reservations over government borrowings from the central bank, and said inflation would remain in double digits in the ongoing

KARACHI: OPI Gas has formally acquired a major share of Shell Petroleum Company's i.e. 67.91 percent in Shell Gas LPG Pakistan Limited. The Share Purchase Agreement between OPI Gas and Shell Petroleum was signed in June this year, following a bidding process from which OPI Gas emerged successful.
The share transfer was made officially in the board meeting of Shell Gas LPG Pakistan, which was held at a t Hashoo Group Karachi office.
The share transfer has taken place

KARACHI: While the strategic allies of Pakistan, particularly the United States, push Islamabad to do more in the "war on terror"; they are lagging far behind their counterparts from the developing world in their commitment to Pakistan, particularly in terms of investment.
The State Bank of Pakistan's statistics on "Inflow of Foreign Investment in Pakistan by Geographical Origin" reveals that during July-October of FY2010-11, net foreign investment had dipped to $569 million