Economic and Business Updates - From 7th to 13th Feburary, 2011
Thursday, February 17, 2011
THE CPI inflation surges by 14.19 per cent in January 2011 over the corresponding period last year with prices of perishable food items soaring to 44.39 per cent, according to the Federal Bureau of Statistics.
EXPORTS witness a record growth of 38.2 per cent at $2.329 billion during January 2011 as compared to $1.658 billion in January 2010.
RICE exports cross $1billion-mark during the first seven months of this fiscal year on the back of rising paddy prices on the international markets.
THE total refinery production in the country declines by nine per cent in the first seven months of FY 11 as compared to that in the same period last year.
THE exporters fail to bring back $316 million export proceeds in initial months of the current financial year and the outstanding export dues mount to $927 million.
AS the Sindh government is mounting pressure to get four dormant gas fields from OGDCL, the latter has refused to accept the demand. It has asked the provincial government to pay wellhead price of hydrocarbon resources as per petroleum concession accord in light of the decision of ECC of the Cabinet.
THE total debt and liabilities services cross over rupees one trillion in the fiscal year 2009-10 and Rs305 billion are paid in the first quarter of the current fiscal year, SBP data reveals.
THE KESC and the Global Mining Company of China sign MoU for fuel replacement initiative through converting two of six generation units of Bin Qasim Power Station from furnace oil to coal.
THE United States Agency for International Development releases first tranche of $20 million to Wapda for Gomal-Zam Dam project.
OVER 0.32 million animals are exported under the commercial export of live animals through open policy since May 2009, the Senate is informed.
THE Competition Commission of Pakistan achieves a breakthrough in enforcement activities when a large business association admits opera-ting as a cartel and requests the CCP to take a lenient view in imposition of penalty.
DEVASTATING floods last year has caused severe losses to the economy and destroyed over three million bales of cotton resulting in cumulative loss of about 1.5 per cent to GDP.
THE Trading Corporation of Pakistan, on the directives of the Economic Coordination Committee of the Cabinet, signs an agreement worth $100 million with Saudi Basic Industrial Corporation for import of 300,000 tons of urea to meet local demand.
THE country receives $6.12 billion remittances during July-January 2010-11, showing an increase of 17.7 per cent against $5.198 billion over the corresponding period last year.
Labels: Economy and Business, Pakistan Economy
posted @ 10:43 AM,
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