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Govt approves Rs660bn projects
Five of the six developments projects approved by the Executive Committee of Ecnec are from the water and power sector.
IMF wants end to govt’s role in power tariff determination
Sources say IMF delegation wants amendments to Nepra Act to ensure automatic notification of tariffs.
FIA asks banks to upgrade cyber security system
Law ministry sets up body comprising intelligence officials to formulate recommendations.
Foreign investment plunges 46pc
FDI inflows during July-October 2018-19 were limited to just $600.7 million against $1,119.9m last year.
‘Debt level to remain high despite consolidation’
IMF Regional Economic Outlook includes Pakistan in countries where debt will remain above 60pc vulnerability threshold.
Engro needs regulatory clarity for LNG plant investment
The company will further need about 15 months to bring the project into operation, says a senior official.
FBR scheme for late filers of tax returns
FBR asks over one million late filers to pay penalty or higher tax for automatic closure of audit proceedings.
Complainants told to submit evidence against CEOs of sugar mills
Rs11bn in sugar stocks were pledged by 8 mills owned by Omni Group to different bank against loans taken by group.
PIA revenue up by 2.5pc, expenditure by 8.89pc in 10 years
According to a fresh special audit report, the number of passengers fell from 5.6m in 2008 to 5.48m in 2016.
Riyadh to release $3bn aid for Pakistan in next few days, says Saudi envoy
Saudi govt interested in setting up a petrochemical industry near Karachi, says Nawaf Saeed Al-Malki.
EXCHANGE RATES
Exchange Rates for Currency Notes
| Countries | Selling (Rs.) | Buying (Rs.) |
|---|---|---|
| U.S.A. | 134.30 | 134.70 |
| U.K. | 173.50 | 175.0 |
| Euro | 151.00 | 152.5 |
| Japan | 1.1400 | 1.1700 |
| Saudi Arabia | 35.60 | 35.80 |
| U.A.E. | 36.50 | 36.70 |
Highlights
Aurora
BULLION RATES
| City | Gold (24-ct) | Silver |
|---|---|---|
| Karachi | 52,683 | 703.00 |
| Multan | 50,750 | 703.00 |
Business & Finance
For CPEC, investors urge political unity
The Pakistani business class aspires for better integration and greater transparency but dreads the derailment of...
Broken promises cause businesses to fume
Who will take ministers at their words now?
Chinese help in agriculture
Officials are tight-lipped about the issue of land acquisition and unclear about financing modalities
KSE 100-share index fluctuations
Chart by Rehan Ahmed
Published in Dawn, The Business and Finance Weekly, November 12th, 2018