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NEC approves Rs2.113T development budget

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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: Benchmark KSE-100 Index sheds 54 points on week’s 1st trading day!

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KARACHI: The looming specter of FATF meeting in Paris that could result in putting Pakistan on a watch-list enabled bear growl all over the bourse on week’s first trading day.

With a loss of 54 points, benchmark KSE-100 Index closed at 43,573. Rs. 5.1b worth of 126.9m shares were traded today. Value of the shares of 193 companies augmented, 140 plummeted, while 26 remained stagnant.

Food/Personal Care Products, Cement & Communication Sectors led the trading with 19.3m, 14.9m and 12.2m shares respectively. Top five traders of shares today were: Fauji Foods Ltd., 9.8m shares (+4.97pc); TRG Pak Ltd., 7.5m shares (-2.94pc); Matco Foods Ltd., 6.8m shares (+3.19pc); Dewan Salman, 6.6m shares (+3.53pc); Dewan Cement, 5.9m shares (-2.85pc).

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Swiss-Pak Bilateral Trade Up 7.5%; Crosses Half-a-Billion CHF Mark

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M.M.A

KARACHI: According to Swiss Federal Customs Administration latest statistics, bilateral trade between Pakistan and Switzerland during the year 2017 crossed half-a-billion mark; total CHF 518.5 Million due to volume increase of over 7.5%.

Main contributors:

i) Swiss pharmaceuticals and watches exports rose by 7.7% and 7.2% respectively.

ii) Pakistani textile exports were also all time high: CHF 109.86 Million; 30% more than 2016.

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PSX: Bulls shoo the bears off on week’s final trading day!

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KARACHI: Benchmark KSE-100 Index closed in the green (43,627) on the week’s last trading day with an augmentation of 685 points.

Rs.5.8b worth of 148m shares were traded today. Value of the shares of 243 companies augmented, 96 plummeted while 25 remained stagnant.

Communication, Banking & Chemical Sectors led the trade today with 23.6m, 18.3m and 13.5m shares.

Today’s top five traders of shares were: TRG Pak Ltd.,13.8m shares (+2.50pc); Azgard Nine Ltd., 11.3m shares (+4.30pc); Pak Stock Exchange, 5.7m shares (+0.37pc); Fauji Foods Ltd., 5.6m shares (+2.32pc); Hum Network, 5.6m shares (-0.32pc).

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