Tag: Surplus

KARACHI - Driven primarily by healthy dollar inflows on the back of strong export performance and worker remittances, the country's current account (C/A) balance has shown a $99 million surplus during the first nine months of the current financial year. Analysts, however, have warned against complacency, saying it was too early to celebrate the rare 'good news' at a time when incipient threats like soaring oil prices in the international market and a debilitating power crisis at home

KARACHI - The second quarterly report on Pakistan's economy, issued by the State Bank on Friday, has revealed that the country's external account has posted a surplus of $1.6 billion in the first eight months of the current fiscal year.
This, explicitly, means that external account surplus of the cash-strapped country registered a robust 220 percent or $1.1 billion growth during July-February FY11. According to central bank's executive summary, external accounts exhibited a

ISLAMABAD - The provincial and federal governments have once again failed to sort out their differences on returning provincial budget surpluses and the imposition of the Reformed General Sales Tax (RGST) on services, and the agricultural income tax, an official source said on Friday.
The Finance Ministry convened a meeting with provincial finance secretaries on Friday to synchronise levying of the RGST on goods and services, and the agriculture income tax from the start of the

ISLAMABAD - The chairman of the implementation commission on the 18th Amendment, Raza Rabbani on Monday quashed rumours that employees would be sent to a surplus pool under the 18th Amendment.
Talking to reporters after the meeting of the commission, Rabbani said neither any employee would be retrenched nor anyone would be sent to the surplus pool and the government would ensure that no employee is affected due to the devolution of ministries under the 18th Amendment.
He

LAHORE - The provincial government has decided to offload surplus wheat stocks to lessen the burden of mark-up and other incidental charges, which are incurred on wheat storage and handling.
The Punjab Secretary Food has announced that the provincial government is willing to sell wheat stocks to domestic exporters on the basis of 30 to 45 days letter of credit. Provincial Secretary Food Irfan Elahi said that to facilitate the wheat exports the department was offering wheat on

Karachi - The Lucky Cement Company (LUCK) has started to consider options of transmitting surplus power to its group companies, as nothing has been done by Karachi Electric Supply Corporation (KESC) in spite of signing an MoU with the company.
LUCK enjoys a surplus power capacity of around 75-80 MW by dint of its waste heat recovery project (WHRP) and captive power plant, and the company signed an MoU with KESC to transmit 40MW of electricity in October this year.
Failure

KARACHI: The current account (C/A) surplus of the country was squeezed to $35 million in the month of October 2010, in large part due to an unexpected surge in oil imports.
In September of this year, the current account surplus stood at $424 million, but the surplus fell to $35 million in October, indicating that the slide in the surplus would likely lead to a deficit in 2010-11. The monthly decline in the current account is the outcome of the growing trade deficit, which rose by

LAHORE: The Pakistan Poultry Association (PPA), in an interesting development, has asked the provincial government to sell surplus wheat stocks to poultry feed manufacturers at Rs 18 per kilogram, which was purchasable for Rs 23.75 per kilogram in the beginning of the season, Pakistan Today learnt on Monday.
PPA Chairman, Raza Mehmood Khursand, has asked the provincial government to sell one million tonne of surplus wheat to poultry feed manufacturers or request the federal