November 16th, 2008 by The Online Reporter
The government on Saturday cut down petrol and diesel prices by Rs 10 and Rs 3 per litre respectively for passing on the benefit of lowering petroleum products’ rates in the global market to domestic consumers.
According to petroleum ministry sources, new maximum sale price of petrol is Rs. 66.66 and diesel Rs. 61.14.
There would be a reduction of Rs. 5 in the price of Kerosene oil and new prices would be effective from November 15, 2008.
November 15th, 2008 by The Online Reporter
Arrested criminals in foreign currency scandal and directors of Khanani & Kalia offered once again FIA to set them free then they will recover all loss. According to sources FIA has started investigation about the data which the got from their main computer server.
FIA addressed that both of them does not seems to be worry about their custody and Read the rest of this entry »
November 14th, 2008 by The Online Reporter
It has been announced that consumers who will consume 100 to 450 units per month will get 13 percent discount in their next electricity bills. This relief will benefit domestic consumers up to 40 billion rupees.
It must be noted that government did not issue any official notification till now regarding this electricity price reduction. According to government price calculation is in process for industrial and commercial level Read the rest of this entry »
November 12th, 2008 by The Online Reporter
Executive Committee of National Economic Council (ECNEC) on Tuesday accorded approval to the Diamer-Bhasha dam worth $12.6 billion.
Federal Minister for Water and Power, Raja Pervez Ashraf during the press briefing on the Diamer-Bhasha dam project said that dam would generate 4500MW electricity. He said that government would open bids for the pre-qualification of the project by November 30 to hire contractors.
Minister said that ECNEC had also approved comprehensive plan for the displaced families and they would be provided compensation. The project would be completed in the next seven years. Minister further said that project would provide electricity worth $1.5 billion per annum and the agriculture sector would get the benefit of $500 million annually.
November 10th, 2008 by The Online Reporter
Munaf kalia confessed to illegally transfer foreign currency for the last five years; more raids are expected from FIA to arrest more dollar smugglers. FIA got list of 32 people who smuggled 39 billion dollars to other countries. According to reports these money changers were transferring $10 million daily through “Havala” and “Hundi” system, which badly affected Pakistan’s forex reserves.
The sources said Munaf Kalia and Javed Khanani had confessed that they were asked by various locals to transfer their foreign currency to their relatives and friends living abroad. This smuggling of foreign currency has resulted in a massive downward slide in the country’s forex reserves, which have depleted from over $ 16 billion in Oct 2007 and now stand at below $ 7 billion, the sources said.
Lots of local politicians and big daddies of finance are expected to be disclose after Javed khanani and Munaf kalia’s statement. Now let’s see how agencies handle this important issue about currency fraud and punish real responsible.
