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SBP: Pakistan’s Liquid Forex Reserves reaches $21 billion mark

KARACHI: Pakistan’s total liquid foreign exchange reserves are at $21 billion for the week ended on December 18, 2015 as compared to $20.7 billion of the previous week ended on December 11, 20015, reported by the Domestic Markets & Monetary Management Department of the State Bank of Pakistan (SBP). First …

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China, Pakistan sign Rs162b loan agreement for Lahore Orange Line Metro Train Project

BUSINESS DESK: Punjab government and Exim Bank of China Minister’s Office have signed an agreement on Monday for the provision of funds for the Orange Line Metro Train Project of Lahore. Exim Bank of China will disburse Rs162 billion for Lahore Orange Line Metro Train Project under the agreement which …

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10,000MW electricity to be added in national grid during current government’s tenure

Finance Minister Ishaq Dar stated that government intended to put in ten thousand MW of electricity in the national grid during its regime. He was addressing a function related to Orange Line Metro Train project in the provincial capital on Monday, where he said working is underway of power projects …

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PPL discovered oil from Attock after drilling the deepest well

Pakistan Petroleum Limited (PPL) stated that it discovered another great reserve in District Attock, Punjab following drilling the deepest well in Pakistan’s history. Engineers of the company made their approach to the final depth of 5,827 metres on November 7, this year, as stated the company. “Based on wire-line logs, …

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IMF confirms $500m for Pakistan, 10th tranche

ISLAMABAD: On Saturday, International Monetary Fund (IMF) has confirmed the 10th tranche for Pakistan under the Extended Fund Facility of about five hundred million dollars, Radio Pakistan reported. IMF Executive Board has approved the tranche and also completed the ninth review of economic performance under a three-year program. The statement …

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Cleanry: Pakistan’s first online home laundry service

The world is changing rapidly and to catch on the pace, you also need to be updated with whats going all around you. And now you just not need to be awe while looking at e-services initiated globally as the Pakistani startups with their utmost brilliance has setup services which …

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US to enhance trade volume with Pakistan: US envoy meets Dar

ISLAMABAD: Finance Minister Ishaq Dar has given justification that the government was not fully focused on growth and job creation while achieving the goals of macroeconomics stability. The minister for finance has said so while having conversation with appointed US Ambassador to Pakistan, David M Hale who came to meet …

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China endorse lending of $1.2b for Thar coal project

ISLAMABAD: china State Council (CSC) has endorsed financial aid for the scheme of coalmining-cum-power project in Thar – the mega project which has assumed an essential position in Pakistan’s struggle to deal with electricity shortage. The endorsement from the council would let Chinese banks to release $1.2 billion for the …

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PPL claims to have discovered gigantic sources of gas

Pakistan Petroleum Limited (PPL) claimed to have discovered country’s biggest resource from any well during the past 10 years. As claimed the state-owned company, it has found gas sources in Matiari, Sindh that would provide at least 56 million cubic feet per day. The volume has its significance as many …

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Asian Development Bank to support Pakistan with $1.5 next year

The Asian Development Bank will give 1.5 billion dollars to Pakistan under Public-Private Partnership in the next five years. The country director of the Bank, Werner Leipach, stated during a meeting with Finance Minister Mohammad Ishaq Dar in Islamabad and apprised Ishaq that ADB’s total co-financing for Pakistan accumulated approximately …

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External debts of Pakistan to pile $90b soon

Business Desk Islamabad: The external debt of the country is projected to mount to gigantic $90 billion in the next four years and Pakistan will require $20 billion per year merely to meet its external financing needs with the reservations that all constitutional preparations put in place to manage debt …

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KPK Govt ties up with UAE firm to set up oil refinery in Kohat

KHYBER PAKHTUNKHWA: The Chief Minister Khyber Pakhtunkhwa Pervez Khattak has told in a meeting that a UAE-based oil company ‘Al-motahedoon Petroleum Refineries (AMPR)’ will set up an oil refinery at Khushal Garh near Kohat. The CM KPK informed at the meeting that the KPK provincial government will provide land for …

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Pakistan Stock Exchange to start working from Dec 28

Business Desk Karachi: The amalgamation of Karachi, Lahore, and Islamabad stock exchanges is going to become one entity of trade naming the Pakistan Stock Exchange (PSE)and will be starting working December 28, said Karachi Stock Exchange (KSE) Managing Director Nadeem Naqvi. While addressing in a press briefing on Friday at …

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UAE Company to set up oil refinery in Pakistan

ISLAMABAD: Al-Motahaden Petroleum Refineries of the United Arab Emirates is committed to spend $500 million to establish an oil refinery in Pakistan supporting the country to lessen imports and face the requirements of energy. The refinery would be established in Khyber-Pakhtunkhwa (KP) to boost the country’s refining capability and support …

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