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Rates of exchange 07 Oct 2008

	1 EUR = 106.268	PKR
	1 USD = 78.282	PKR
	1 GBP = 137.487	PKR
	1 JPY = 0.757	PKR

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	NEWS TAPE

03 Oct 2008 23:57

China to set up APSCO by end of 2008; proposed by Pakistan, China and Thailand early 1992 : China said it will set up the Asia-Pacific Space Cooperation Organization (APSCO) at the end of this year. Pakistan was one of the three first countries along ...

British HC restores visa service in Karachi : Following a review of security at the UK Visa Application Centres (VACs), the British High Commission announced that Gerry’s International are reopening the Karachi VAC on October 8. Gerry’s International are also aiming to reopen their Lahore VAC on October 13. ...
03 Oct 2008 20:54

03 Oct 2008 16:52

Business community welcome increase in wheat support price : Business community here on Tuesday appreciated government’s decision of increasing wheat support price to Rs. 950 per 40 kg terming it “a right decision at a right time”. “This is a right decision of government at a right time which would benefit the farmers and encourage them to produce more wheat for the benefit of the country”, Shabbir Sheikh a Senior ...

High inflation dampens economic activities on Eid : President Islamabad Chamber of Commerce and Industry, Muhammad Ijaz Abbasi has said high inflation has depleted people’s purchasing power and put negative impact on business activities in the ...
03 Oct 2008 15:49

30 Sep 2008 20:15

FBR asked to re-open case of Shahnawaz Textile : The Federal Tax Ombudsman Justice ® Munir A. Sheikh here on Saturday asked the Federal Board of Revenue to reopen order of Deputy Collector (Refund) issued to the M/s Shahnawaz Textile and decide his ...

KESC signs 50 MW gas-powered rental power contract : New KESC management has signed a key contract of 50 MW rental power for a period of over two years to provide additional capacity and to minimize power shortages in Karachi. The 50 MW rental power will be installed at two sites in the city and integrated directly into Karachi’s utility grid. The initial 20 MW is due to be commissioned by the end of this year and ...
30 Sep 2008 16:20

30 Sep 2008 14:30

US to give $ 100 mln to Pakistan for agri sector : The US Ambassador to Pakistan Ms Anne W Patterson has said that the United States wants long-term, broad-based relations with Pakistan and is going to announce $ 100 million package for its Agriculture ...

FBR modifies IT rules to facilitate salaried taxpayers : Federal Board of Revenue (FBR) has modified the Income Tax rules to judge taxability and seek more information about the salaried taxpayers. Under the SRO No. 997(1)/2008 issued by the Board, the annual statement of deduction of income tax from salary to be submitted by the employer as specified under Part IX, of the Second Schedule ...
29 Sep 2008 23:30

29 Sep 2008 19:20

Package to stabilize capital market after Eid: KSE : The Karachi Stock Exchange is in discussion with all stakeholders to prepare an integrated package for stabilizing Pakistani capital market. According to KSE announcement here Thursday, the final outcome of these discussions will be reached shortly after Eid. ...

Investors pull $ 9.607 mln from stock market during Spt : Foreign investors have pulled out $ 9.607 million from stock market during September 2008, SBP report said here Saturday. According to a daily position of SBP’s Special Convertible Rupee Account (SCRA), the inflow of foreign investment was $ 81.527 million while the outflow was $ 91.134 million from September 1 ...
29 Sep 2008 14:19

29 Sep 2008 12:02

Draft group companies registration regulations, 2008 issued : The Securities and Exchange Commission of Pakistan (SECP) has issued draft Group Companies Registration Regulations, 2008 to provide an enabling framework for companies intending to avail tax ...

Business community welcomes President’s address : The business community has appreciated President Asif Ali Zardari’s address to the joint session of the Parliament on Saturday and described as reflection to his and his party’s commitment for the ...
22 Sep 2008 14:59

22 Sep 2008 14:02

Qamar unveils Economic stabilization package : Federal Minister for Finance and Privatization Syed Naveed Qamar here on Friday announced four point Economic stabilization package including doing away with all subsidies by the end of the current ...

Agri credit disbursement crosses 12 % to Rs 28.749 bln in two months : Disbursement of credit to the agriculture sector by commercial and specialized banks has increased 12.48 percent to Rs 28.749 billion during the first two months (July-August) of the ...
22 Sep 2008 13:20

22 Sep 2008 12:18

World oil prices mixed in Asian trade : World oil prices were mixed in Asian trade Monday as investors reacted to moves by the US to help investment banks Goldman Sachs and Morgan Stanley survive a financial crisis that has shaken global markets, ...

Pakistani products gaining grounds in Italian markets: Tasneem : Pakistan Ambassador to Italy Tasneem Aslam has said that demand for Pakistani products increased in the Italian markets due to strong and ever growing friendly ties between Pakistan and ...
09 Sep 2008 19:08

09 Sep 2008 15:22

Business community optimistic with Zardari’s elections : Business leaders representing entire traders and industrialists community of the country have congratulated Asif Ali Zardari on his election as the President of Pakistan and hoped that now the ...

Saudi Arabia to provide 1,50,000 tons Urea to Pakistan : The government of Saudi Arabia will provide 1,50,000 tonnes of Urea fertilizers to Pakistan to fulfill the domestic consumption of the commodity. According to a new agreement signed between Pakistan and Saudi Arabia, the Saudi government will provide urea fertilizers worth of 125 million dollars till the end of this month. ...
06 Sep 2008 19:20

31 Aug 2008 22:10

IFC and JPMorgan join hands to boost trade finance in Asia-Pacific : IFC, a member of the World Bank Group, and JPMorgan jointly launched an innovative trade finance structure in Asia and the Pacific to help facilitate and boost trade activities in the ...

SCCI president for reaching approach to overcome power shortage : President Sialkot Chamber of Commerce and Industry (SCCI) Dr. Khurram Anwar Khawaja has urged the government to adopt far-reaching approach to overcome power shortage in the country. ...
31 Aug 2008 21:03

31 Aug 2008 20:15

Stakeholders will be consulted for industrial policy: Minister : Chairman Chief Minister’s Task Force for Industrial development,and small and medium Enterprises, Yawar Irfan Khan has said that short and long policies would be formulated for the ...

Heavy provisioning erodes profits of Five big banks : The heaving provisioning has eroded profits after tax (PAT) of five large commercial banks by 5.1 percent during the first half of 2008. According to analysts here Friday, the combined profitability of ABL, HBL, MCB, NBP and UBL in the half year ending June 2008 was estimated at Rs 30.0 billion over the corresponding period profit of ...
31 Aug 2008 19:49

31 Aug 2008 19:02

Import duty on 350 non-essential and luxury items to help save precious Foreign Exchange : The local industrialists and Chambers of Commerce and Industries have appreciated and said that the government decision to levy the import duty imposed on 350 ...

FBR asked to reassess custom duty, taxes on complainant’s car : Federal Tax Ombudsman, Justice ® Munir A. Sheikh has asked Federal Board of Revenue (FBR) to reassess customs duty and taxes levied by Custom Department on the car of a complainant ...
31 Aug 2008 18:54

Pakistan capable to deal with current economic challenges: ADB : Director General of Central and West Asia Department of Asian Development Bank (ADB), Juan Miranda said here on Saturday that Pakistani government was taking practical measures to deal ...
30 Aug 2008 22:29

30 Aug 2008 22:03

World Bank Vice President meets Finance Minister : Vice President, World Bank, South Asian Region Isabel M. Guerrero met Finance Minister Syed Naveed Qamar here Friday. She was accompanied by her predecessor, former World Bank Vice President, Praful C. ...

Oil prices rise on supply worries : World oil prices rose by more than one dollar in Asian trade on Monday on supply concerns amid the escalating fighting between Georgia and Russia, dealers said. In morning trade, New York’s main contract, light ...
11 Aug 2008 15:49

11 Aug 2008 15:02

Pakistani imports decline by 11.81 percent in July : Imports into the country during July 2008 decreased by 11.81 percent compared to imports during June 2008, the last month of previous financial year, according to provisional figures issued by Federal ...

Future of South Asia depends on Indo-Pak relation- President SAARC CCI : President SAARC Chamber of Commerce and Industry (SCCI), Tariq Sayeed here on Friday appreciated the initiatives taken by the governments of Pakistan and India for devising a ...
07 Aug 2008 20:20

06 Aug 2008 12:21

Pakistan good destination for aviation business: BA : Pakistan is a good destination for aviation business with great opportunities in cargo services, said Chris Phipps, British Airways Manager for Pakistan and Afghanistan. Talking to the newsmen, here ...

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British HC restores visa service in Karachi
03 Oct 2008

High inflation dampens economic activities on Eid
03 Oct 2008

03 Oct 2008

Business community welcome increase in wheat support price

03 Oct 2008

China to set up APSCO by end of 2008; proposed by Pakistan, China and Thailand early 1992

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