3G and 4G auction to yield $1.3bn, says Dar

The fee would be recovered within five years, and the licence would be valid for 15 years.

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  • @WSJ: Rescuers racing to find South Korea ferry survivors: 500 professional divers 29 aircraft 169 vessels http://t.co/oBM8n4MQ9o
  • @WSJ: RT @misssaxbys: Our exclusive! Japan gets its first ever #bitcoin ATM http://t.co/Mta7JrAIBE @robocoin
  • @WSJ: A Chinese company built 10 homes in 24 hours using a gigantic 3-D printer. http://t.co/q6D85xbaTL
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  • @WSJ: Can Rovio be the 21st Century's Disney? http://t.co/BOsGARFoQE
  • @WSJ: RT @Kwanwoo: Day 2: Emotions mount as rescuers seek survivors of sunken South Korea ferry. http://t.co/PlvzNXF7o8
  • @WSJ: China's version of Twitter--Weibo--sold 16% fewer shares than expected in its $285.6 million IPO. http://t.co/DcGvic6M49
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Top Stories

16 MoUs signed at business meeting

Over 300 representatives of the private and public sectors from CARs, Afghanistan and Pakistan attended the conference.

Bulls stage spectacular rally of 362 points

Bulls tossed KSE-100 index up by 362.38 points to a high at 29,458.15 in a rally effectively led by foreign investors.

Sindh revenue collection jumps by 23pc

Revenue collection in Sindh between July 2013 and March 2014 stood at Rs23.7bn, witnessing an increase of 23 per cent.

Punjab textile units start downsizing

Several textile units have incurred losses due to short gas supply, long power cuts, appreciating rupee against US$.

Treasury bills losing attraction

Govt failed to mobilise banks for T-bills auction as the bids it received for the auction were less than the set target.

FBR publishes list to embarrass tax cheats into paying up

“We hope this will become the talk of the town,” said Shahid Asad, the spokesman of the Federal Board of Revenue.

Dar takes tax officials to task over target

Chief commissioners were called in to work out means for showing growth in revenue collection to reach the target.

Highlights

Dar eyes forex reserves at $15bn by end-Sept

Pakistan's forex reserves are currently at $11.67bn after SBP received $2bn on Wednesday through floating of Eurobonds.

US calls for more investment-friendly Indian government

The US govt said that it would like to see bilateral trade with India grow to $500 billion a year.

Initiative helps bring down costs of remittances

Pakistan Remittance Initiative is helping exert downward pressure on costs of making remittances to South Asia, says WB.

Regional trade integration to help revive economy

Commerce Minister Khurram Dastgir Khan said regional trade integration and liberalisation was govt's top priority.

Eurobonds sale and their impact

With the healthy inflow from the Eurobond in the bag, the probability of a discount rate cut of 50bps has increased, as

Exchange companies under stress

Forex companies have started feeling the heat of changed market conditions after the recent rise in the rupee’s value.

Bullion rates
City Gold (24-ct) Silver
Karachi 42,171 642.85
Multan 41,150 686.00
Exchange Rates

Exchange Rates for Currency Notes

CountriesSelling (Rs.)Buying (Rs.)
U.S.A. 97.55 97.80
U.K. 162.15 162.35
Euro 133.80 134.00
Japan 0.9400 0.9500
Saudi Arabia 25.80 26.00
U.A.E. 26.35 26.55
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