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NEC approves Rs2.113T development budget

SANA MAHMOOD

ISLAMABAD: National Economic Council (NEC), while setting a growth rate target of six percent, has given a nod apropos development budget for fiscal year 2017 and 2018 following a meeting that was chaired by the PM here today.

According to details an amount of Rs.1.001T will be go to the Federal Government and the remaining will be shared by Provinces. 

The allocations are as under: 

Rs30bn allocated to Prime Minister’s Global SDGs Achievement Programme; Rs40bn for Special Federal Development Programme; Rs7.5bn for ERRA; Rs12.5bn for the Energy for All program; Rs12.5bn for the Clean Drinking Water for All project; Rs5bn for completion of development projects under the China-Pakistan Economic Corridor; Rs90bn for IDPs and security; Rs4.34bn for the Aviation Division; Rs5bn for the Cabinet Division; Rs5.18bn for Capital Administration and Development Division; Rs810.5m for the Climate Change Division; Rs1.2bn for trade industry; Rs13.66bn for the Communications Division; Rs5.305bn, for the Defence Division; Rs4.46bn for the Defence Production Division; Rs270m for the Establishment Division; Rs2.96bn for the Federal Education and Professional Training Division; Rs18.93bn for the finance ministry; of which Rs200m will be allocated towards development projects; Rs35.66bn for the Higher Education Commission; Rs11bn for the Housing and Works Division; Rs300m for the Human Rights Division. 

 

 

 

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PSX: Marred by political ambiguity the bourse experiences low-key activity today!  

SANA MAHMOOD

KARACHI: The prevailing vagueness in the economic as well as political scenario of the country forced PSX fall flat closing at 42,750 points on the week’s last trading day.

Rs. 5.45b worth of 132m shares changed hands, with value of the shares of 167 companies augmenting, 170 plummeting and 26 remaining stagnant.

Technology, Power and Textile sectors dominated the bourse with trading of 24.4m, 12.5m and 11.7m shares today.

Top five leading handlers of shares on the last trading day of the week were: WorldCall Telecom, 17.6m shares (+2.62pc); Engro Polymer, 8.9m shares (+3.03pc); K-Electric Ltd., 6.8m shares (+0.48pc); Dewan Motors, 6.4m shares (+4.82pc); Bank of Punjab, 6.3m shares (-1.87pc).

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PSX: Raid at Dar’s house & Model Town Report let bears bleed the bourse red!

SANA MAHMOOD

KARACHI: News that last night NAB personnel raided the house of Federal Finance Minister Ishaq Dar armed with an arrest warrant forced bulls leave the bourse after many sessions.

Court’s orders to make the judicial report of Model Town carnage public too allowed the bears growl forcing KSE-100 Index close at 42,800 today post shedding 572 points.

Today Rs. 8.7b worth of 165.7m stocks changed hands. The value of the shares of 253 companies plummeted, 94 augmented while 33 remained unchanged.  

Technology, Power Generation and Gas Sectors led the trade today with 18.9m, 15.1m and 15m shares.

Today’s top five traders of the shares were K-Electric Ltd., 12.5m shares (+1.30pc); Sui Southern Gas 11.2m shares (-0.18pc); Engro Polymer, 9.9m shares (+1.66pc); WorldCall Telecom, 8.6m shares (+1.78pc); TRG Pak Ltd., 8.3m shares (-4.44pc).

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European consortium Airbus inaugurates first completion/delivery center in China

MMA

TIANJIN: European consortium Airbus has inaugurated a $240m completion center here that will be receiving large bodied aircraft A330s from France.

 

 

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