Punjab focus on large investment spending
Rs931.65bn deficit budget doles out bns in untargeted subsidies, aims to up tax by 33 pc without change in tax regime.
Sindh allocates Rs39.3bn for local govt
The provincial budget for 2013-14 has a total outlay of Rs617.21 billion against estimated receipts of Rs559.57bn.
BUSINESS
Pakistan seeks IMF bailout
Pakistan and the IMF are opening on Wednesday week-long discussions on a possible $5 billion bailout package.
Top Stories
Pakistani stocks rise on IMF visit optimism
The visit helped reverse losses seen in recent days on the Karachi Stock Exchange's benchmark 100-share index.
GST not applicable on edible, medicines, SC told
The AG said 70 edible items including cooking oil, peppers, seeds, sugarcane, eggs, fish and fruits are exempted.
SC orders amendment in declaration over increase in POL prices
Chief Justice Iftikhar Chaudhry said that even the President of Pakistan was not authorised to impose any tax .
European stocks mostly drop before Fed decision
Investors have been speculating about when the Fed begins tapering off its $85 billion-a-month bond-buying programme.
Hong Kong stocks end 1.13pc lower
The benchmark Hang Seng Index ended down 238.99 points at 20,986.89 on turnover of HK$61.88 billion (US$7.98 billion).
China firm forays into British yacht, hotel markets
Wanda Group will invest nearly $1.6 billion to acquire a British yacht maker & build London's tallest residential towers
Pakistani stocks close lower, rupee weakens
The Karachi Stock Exchange's benchmark 100-share index closed 1.34 percent, or 296.84 points, lower at 21,919.62.
Current account deficit widens to $2bn
The current account deficit rose by $1.952bn, compared to $3.920bn in the same period last year, reported State Bank.
Punjab eyes more than 40pc increase in tax revenue
The provincial authorities plan to collect the major tax revenue from general sales tax on services.
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Bullion rates
Bullion rates in Rupees per 10 grams
| Gold Tezabi (24-ct) | Silver Tezabi |
|---|---|
| 45,000 | 737.14 |
Exchange Rates
Exchange Rates for Currency Notes
| Countries | Selling (Rs.) | Buying (Rs.) |
|---|---|---|
| U.S.A. | 99.38 | 97.02 |
| U.K. | 156.09 | 152.37 |
| Euro | 132.72 | 129.56 |
| Japan | 1.0475 | 1.0220 |
| Saudi Arabia | 26.50 | 25.85 |
| Hong Kong | - | - |
| U.A.E. | 27.06 | 25.87 |
Spot Rates
Spot rates for public per unit of currency
| Countries | Selling T.T & O.D | Buying T.T Clean | Buying O.D/T.Chq |
|---|---|---|---|
| U.S.A. | 98.40 | 98.20 | 98.00 |
| U.K. | 154.54 | 154.23 | 153.91 |
| Euro | 131.40 | 131.14 | 130.87 |
| Japan | 1.0372 | 1.0350 | 1.0323 |
| Saudi Arabia | 26.24 | 26.18 | 26.12 |
| Hong Kong | - | - | - |
| U.A.E. | 26.79 | 26.74 | 26.67 |